The main reasons for retail theft can be addressed with a
few retailers’ adjustments. A recent report indicated that U.S. businesses lost
around $40 billion in 2013 to retail theft. This amounts to almost 1.5% of
overall sales, and solidifying theft as one of the biggest problems for
retailers. The report further indicated the four main culprits of retail
theft. Retail customers make up 34% of
retailers losses, company employees make up 32% of the losses and the remain
two are management 26% to over ordering (spoiled product) and suppliers and
contractors at 8% for overcharging and breakage. Solutions to theft can be
avoiding with well place security and surveillance and dummy cameras.
Many firms add security guards, but that will cost a
retailer $15-$20 per hour or $40k to $100k per year for the employee and then
add liability and medical insurance. The company said many retailers will need
active security and surveillance for prevention and to use as evidence, but for
some small retailers it can be costly.
A recent survey by the National Association for Shoplifting
Prevention (NASP) indicated that 73% of retail theft is not premeditated. This
indicates a prevention set up can aid retailers from customer and employee
opportunistic theft. Part of creating a non-theft retail scene is to educate
employees and to allow them to confront suspected thieves by asking the
potential thief if there is anything they can help with, or shadow the
suspected customer and alert management. Installing dummy camera alone can
prevent theft which creates a no theft scene. Additionally, using active retail
cameras in combination with mock cameras is a low cost alternative.
Although retail theft can be a big problem, the good news is
that there are a variety of theft reduction solutions out there for the small
business owners. In most cases, simple and low cost solutions are all that is
needed such as a fake camera and security sign. If a business wishes to learn
more then type nettohome in Amazon or facebook search.
