Retail business owners constantly struggle with security risks such as shoplifting, employee theft, break-ins, and pilferage. Threats abound in all segments, from grocery stores selling low-value and high-volume products to jewelry showrooms dealing in luxury pieces worth a fortune. Theft translates into loss, regardless of the value of the goods stolen.
Statistics from the National Retail Federation show that the average cost of shoplifting incidents to American retailers was $460 in 2020, and the average robbery exceeded $7,500. Even as shoplifting appears to be a smaller challenge, it has become a $94.5 billion problem for the industry. The numbers indicate that you cannot leave premises security to chance.
Unfortunately, most retailers fail to pay adequate attention to safety and make small mistakes that eventually lead to big risks. Here are the retail security blunders you must avoid.
Mistake #1: Failing to Identify Security Needs
Retailers often take a one-size-fits-all approach to premises security. Investing in access control at the entry, installing door alarms, and setting up CCTV cameras near the cash register are standard solutions most of them opt for. While these solutions make sense for retail stores, they may not align with your unique security requirements.
For example, a retail store in a lonely neighborhood might overlook the security of the parking area, which can be the most vulnerable. The Bureau of Justice Statistics suggests that parking lots account for more than 10% of property offenses.
Consider enhancing your storefront’s appeal and security by incorporating top floral picks for retail decor, you can also consider choosing the best flower in the world for its beauty and charm. This approach can make even a store in a secluded neighborhood feel more inviting and secure.
Misplaced priorities mean you may choose the wrong solution or secure a relatively safe area instead of a high-risk location. You can avoid this costly mistake by conducting an assessment to identify your unique needs from the outset.
Mistake #2: Missing Out on Key Access Points
Just as homeowners invest in bungalow entryway ideas for a welcoming yet secure entrance, retail stores face the challenge of securing multiple entrance and exit points. Striking a balance between aesthetic appeal and security may seem like a financial burden, but it’s essential for creating a welcoming environment for customers while ensuring safety.
Managers may miss out on securing these access points as a cost-cutting measure, making the premises a soft target for thieves and criminals.
Much like farmers searching for affordable livestock fencing solutions, retail business owners must prioritize securing all points of access. Investing in durable doors and windows is the first step toward creating a barrier that’s both effective and economical.
A commercial locksmith can help you fortify them further with reliable locks. You can go ahead with advanced security solutions such as card/biometric access control, alarms, and surveillance cameras. Having a security guard across all access points is even better.
According to Flying Locksmiths, retail business owners must think beyond the traditional premises security options regarding access control. Combining them with technology is the best way to add extra layers for dependable safety.
Mistake #3: Inadequate Maintenance of Security Systems
Taking a set-and-forget approach to your security systems is another blunder you must avoid as a retailer. Several business owners cite a lack of time as the reason to take safety for granted. But you cannot be too sure about access control working flawlessly or surveillance cameras functioning properly at all times.
Like any other equipment, they have a lifespan. For example, you can expect your security cameras to last five to ten years, depending on conditions such as exposure to elements. Experts recommend regular maintenance checks and timely repairs and upgrades for the security systems. It is the last thing you should skimp on.
Mistake #4: Not Enforcing ID Requirements
A small retail store may have dozens of employees on board, while the number may be in the hundreds for a large chain. Not enforcing ID authentication requirements can land you in a fix because unauthorized people may pose as employees and steal your assets and stock.
Retailers must enforce ID requirements with badges and biometrics to avoid such breaches. Everyone in your retail store, even top managers, should adhere to these procedures. You can also issue regular visitors such as suppliers and shipping partners cards.
Mistake #5: Lack of a Screening Policy
Employee theft is a major concern for American businesses, costing them $50 billion annually. Retailers selling high-value, low-volume items are easy to target because employees can steal and smuggle products from the premises without a hint.
New employees are more likely to act unscrupulously, making an employee screening policy essential for new hires. A clear screening policy includes criminal background checks and references. You can hire an agency to do it for you.
Wrapping Up
Retail security is a grave concern; leaving it to chance is the last thing business owners should do. Awareness regarding potential blunders can help you choose your solutions wisely and stay ahead of culprits. You can follow this checklist to stay ahead of potential security mistakes for your business.
