Stock shrinkage, shoplifting or just straight-up stealing; whatever you call it, it’s bad for business. Although most business owners have accepted that theft comes with the territory, there are several shoplifting prevention strategies a business owner can integrate to reduce shrinkage.
Steps to Prevent Shoplifting
Consider the following 5 steps to reduce shoplifting:
Step 1: Build Strong Employee Relationships
Build relationships with your staff and let them know how much you cherish and appreciate them. Internal theft is just as prevalent as shoplifting.
Employees will be happier — and less prone to participate in criminal activity such as stealing — if they feel involved with your company and that their effort is appreciated.
Step 2: Utilise RFID Systems
RFID (Radio Frequency Identification) allows for better inventory control via faster and more accurate stock takes. RFID is a cutting-edge technology that employs “smart” tags that are attached to stock products. The tags are then linked to the product information on a database, including product specifics, such as size, colour, and style. Hundreds of tags can be read per second, allowing thousands of tags to be scanned in a couple of minutes. Each tag has a unique ID and cannot be read repeatedly, preventing duplicate counts.
Step 3: Add Doorbells and Buzzers
The bell that rings as customers enter or leave a store may be irritating, but they’re really useful, especially for smaller businesses. These processes work in two ways: they tell you when someone enters your store, and they inform customers that you are watching them. A buzzer makes it impossible for a shoplifter to slip past you when you’re distracted.
Step 4: Utilise EAS Systems
EAS (Electronic Article Surveillance) is a tried-and-true method of protecting your products.
The tagging of merchandise and the installation of antennas at the stores’ entrances function as a deterrent, making shoplifters reconsider entering your store.
If the products are tagged, anti-shoplifting devices will identify any stolen goods leaving your shop. This boosts sales since products may be removed from behind counters or glass doors, and shelves can be completely stocked without fear of shrinkage.
Step 5: Organise Your Store According to High-Risk Items
When structuring the layout of your business floor, start by identifying your most vulnerable and valuable products. Typically, they are smaller or more expensive products that thieves find convenient to steal. You should do everything possible to position these goods near the checkout, or in a high-traffic location to deter thieves.
Looking for Ways to Prevent Shoplifting?
Contact Milestone for all your shoplifting prevention system needs.