Retail establishments exist in a fast-paced and ever evolving environment with the goal of profitability. Successful businesses realize that one of the most effective ways to increase profit margins is to reduce loss. Without your diligence, the retail field can quickly become a battlefield.
Here are some critical ways you are susceptible to theft, fraud and loss and how to dramatically reduce losses.
Unfortunately, one of the most frequent ways retail establishments experience theft is by employee theft. One of the best ways to discourage this type of loss is by having CCTV cameras in places not frequented by the general public, such as supply rooms.
Successful businesses realize that one of the most effective ways to increase profit margins is to reduce loss.
More sales naturally generate more returns. Those returns are frequently stored in accessible areas and do not garner the same level of security as new goods on the floor. Thieves notice this and take advantage of the lack of security. You can fix this problem by tighter controls over returns and go-backs and visible security cameras in the area.
Not only are retail products targets for theft, so are the tools of the retail trade. Most businesses use an abundance of specialized equipment, much of it smaller and easily concealed. These tools are targets because of their uniqueness and ability to be sold online swiftly and easily. Train employees on best practices to maintain the security of the equipment, and make sure the floor is covered by security cameras.
Every business large or small, is vulnerable to fraudulent claims. Those wishing to defraud the business, whether they are customers or employees, may stage an accident or injury that can cost a substantial amount to litigate. Having CCTV cameras throughout the business not only discourages such practices but also provides footage that can allow you to successfully dispute claims.
Perhaps not surprisingly, businesses today face a substantial amount of loss due to lost productivity. This can take the form of low or slow accomplishment of tasks, extended breaks, using company time for personal business or entertainment as well as many other time robbers. While common to every business, the problem can be successfully combatted with well-placed CCTV cameras.
Of course, one of the most obvious ways a business is susceptible to theft is through shoplifting. There are many ways to combat shoplifting such as implementing theft reduction practices, such as having more employees on the floor, involved customer service, and visible security cameras.
S-Tron Specializes in retail loss prevention and commercial retail security systems. We strive to be at the forefront of our industry so you can be at the forefront of yours. If you have any questions about retail security, please call S-Tron today.
Latest posts by Tina Dunn (see all)
- S-TRON Sponsors Premier Keynote Speaker at RLPSA Conference in Dallas, Tx. - August 3, 2018
- Share a beverage with S-TRON at the upcoming NRF Protect convention - June 4, 2018
- Hard Facts About Employee Theft and Why You Need Video Surveillance - August 30, 2017