Shoplifting, employee theft, suppliers and contractor thefts — all these are among the major threats retail stores have to battle each day. In fact, a business can easily go down the drain if it doesn’t have a way to monitor and mitigate the threat posed by such instances.
If you are operating on a low budget, it doesn’t mean you can’t protect your business and ensure your retail store’s security. Even if you cannot afford the top-notch security systems, you can still keep your store secure by simply choosing what to invest in, communicating with your employees, and using smart merchandising techniques.
One thing you have to have in your retail store is an inventory management system. If you don’t have one in place, it is going to be challenging to keep track of your stock or to determine when you are experiencing a suspicious outflow. Catching a crime in good time increases the chances of your business recovering from the setback. Once you have an inventory management system in place, what else can you do to ensure retail security on a budget?
1. Educate your employees
This can help you on two levels. Firstly, trustworthy workers will stay alert and report any suspicious incidents. Secondly, it will deter thieves within your workforce since they understand everyone else is aware of the problem. Workers should learn simple practices such as security etiquette to help keep shoplifters at bay. For instance, if they greet every customer entering the store, besides courtesy, this act also serves to let the person know that the worker has taken note of their presence.
2. Deter theft through merchandising
Instead of placing expensive goods in high-traffic areas, have them within employees’ direct line of sight. This way, there is always someone keeping an eye on these high-value items. Be especially aware of small costly items such as jewelry that can easily be stashed in the pockets. In addition to being in the direct line of sight of your staff, you also might want to keep these smaller items near the cash register. Finally, if you are struggling to place items within clear view, consider switching up your store layout.
3. Don’t forget the exterior
Consider investing a little more on tamper-proof padlocks and mirrors outside on our exterior doors and windows. Good quality tamper-proof locks are not overly expensive yet they can easily deter intruders. For those stores in a conspicuous location, you can consider security screens installed on the entry side. Roll them down when there’s no one working at the store to keep shoplifters at bay. You can also install monitoring mirrors inside the store to cover areas that are secluded.
4. Fake it till you make it
Another inexpensive way of deterring retail store thieves is by installing replica security cameras. Most models of dummy cameras in the market today are designed like real ones and help deter thieves. Most intruders or potential shoplifters will not be able to tell the difference between a quality dummy camera and a real one.
If you’re on a budget, that doesn’t mean you can’t keep your retail store safe. You can consider some smart investments that will limit your exposure to possible losses. Using the low-cost solutions mentioned here to stay ahead of your retail security threats.