Smart Ways to Handle and Prevent Theft in Your Retail Store

1. Smart Ways to Handle and Prevent Theft in Your Retail Store

2. Retail theft Retail theft causes retailers to lose thousands of dollars every year. Even being aware of the fact that their retail store is vulnerable to internal and external theft, many retailers overlook theft prevention until a customer shoplifts and causes them a hefty loss. Highlighted below are some effective measure you can take to prevent theft in your retail store and ensure a profitable business.

3. Merchandising and Display Security Merchandising security has become popular amongst retail businesses that deal with high-value products like laptops, tablets and smartphones. You can choose from a wide range of display security solutions, from wired grip holders to magnetic holders and security stands, to keep your handheld electronics and other high-value merchandise secure and tethered to the display platform. These display solutions are designed to be easily mounted on display platforms or furniture, and offer complete flexibility to the customers while they check products.

4. Inventory Management Tools Effective inventory management assists retailers in maintaining a smooth, profitable, efficient store. Keeping track of your inventory – what and how many products you have in stock, what items have been sold in what quantity – helps to not only avoid stockout situations and improve customer experience, but also reduce retail theft to a great extent. To manage your inventory effectively, you will need a barcode scanner. Investing in a portable barcode scanner that uses Bluetooth technology can save a lot of your time and help avoid cord mess. However, if you run a small retail store that doesn’t get much traffic, you will do just fine with a traditional handheld model like Symbol Is2208. When buying a barcode reader online, read specifications carefully and make sure the device you choose is compatible with your POS system.

5. CCTV Cameras Installing surveillance cameras at key areas of the retail store in combination with POS compatible video analytics software has been a common practice amongst retailers to prevent theft. While the cameras record activity in and around the store, the software allows you to identify and alert you to suspicious movements like when someone moves out of the store without paying. With the information on count of incoming and outgoing customers, demographics and heatmaps for more detailed user behaviour analytics in hand, you can spot the likelihood of theft more efficiently in your retail store and prevent hefty losses.

6. Anti-Theft Signage Often overlooked as a theft prevention tactic by retailers, putting up anti-theft signage across the store can eliminate the likelihood of theft. Not only can you make customers aware that they are being watched but you can also warn them of the consequences of shoplifting with smart anti-theft signage.

7. Staff Training One of the most important and helpful theft prevention practices, staff training can go a long way to reduce the incidents of shoplifting and theft by internal staff. Educate them about the store’s code of conduct and consequences one could face when found guilty of stealing from the store. Also, keep your staff well-informed of common signs of shoplifting and best practices of theft and loss prevention. Adhering to these tactics can help reduce theft incidents and associated losses in your retail store. It is also recommended that you consult with a retail specialist to discover the best POS anti-theft software and tools to not only prevent shoplifting but also control internal theft by employees.

8. Reach Us POS Plaza PO Box 7921 Baulkham Hills BC NSW 2153 sales@posplaza.com.au 1300 11 58 08 www.posplaza.com.au