American retailers lose almost $50 billion a year due to shoplifting, and the majority of that is during the holiday season. It’s a huge drain on any business, but especially small retailers.
The extra foot traffic, distracted staff, and the chaotic atmosphere of the holiday season create a perfect storm for the shoplifting surge. So, what can you do to prevent it?
- Know which items are the biggest targets. Certain items are more attractive for shoplifters than others, like those that are easy to conceal. So, if you’re displaying small electronics, accessories, fragrances, and clothing, determine the best way to protect them, like security tags and locked display cases.
- Properly train your staff in theft prevention. A well-trained workforce is your best defense from shoplifting. Learning how to spot suspicious activity and paying attention to specific situations is the first step in reducing shoplifting.
- Make your store’s layout a deterrent. Shoplifting increases during the holidays, in part, because of the influx of merchandise in the store. So, allow for open spaces, keep the store organized and uncluttered, and reduce the height of shelves, if possible, to increase visibility.
- Hire help. Having a dedicated security team on site is a great way to deter shoplifters. They are highly trained to spot suspicious behavior and prevent theft.
Shoplifting might seem like the price of doing business for retailers, but it doesn’t have to be. The trick is adopting a loss prevention approach that includes security. If you’re ready to address the security needs of your business, SFM Security is always available to guide you through the process.