One in 11 people will shoplift in their lifetime, according to HG.org. Be proactive and you can help ensure it won’t happen to your business. Follow the tips below for easy ways to maximize your bottom line by minimizing the shrink rate in your warehouse and business.
Maintain a watchful eye
The National Retail Security Survey reveals 68.2 percent of respondents are adding additional resources, mostly involving technology, to help reduce their shrink rate. It’s no wonder. A dimly lit warehouse or business makes it easy for criminals to walk away undetected, while lighting in areas not seen by passersby, like the loading dock, serve to help criminals.
Install proper lighting throughout the space to brighten up dark corners and add in a convex mirror to reach low-traffic areas. For powerful theft deterrents, up the loss prevention strategy factor with a security camera system. The best security camera solutions provide the high-definition clarity and range you need to keep shoppers and employees in line. The wired 4K Nocturnal cameras from Lorex, for instance, constant recording feature is a powerful block to would-be shoplifters. The cameras also capture crystal-clear footage, even at night, so you never miss a detail of a possible theft.
Clean it up
How long does it take you to realize something is missing? A tidy and organized store keeps items from getting lost, broken or shoplifted. An open floor plan isn’t only visually appealing, it’s also a great way to keep an eye on customers. Avoid placing big ticket items near the store exit. Change shelf heights, placing shorter shelves in the front of the store near the registers and taller shelves at the back. When employees and guests can see each other, it goes a long way to deter theft.
Although shoplifting, rather than employee theft, is the top inventory shrinkage source, it pays to stay on top of the warehouse. Rather than placing incoming items helter skelter, arranging the warehouse helps keep items from getting lost in the shuffle or walking out the door. It’s easier to tell when something is out of place when every item has a home.
Create a friendly atmosphere
Keep the storefront fully staffed during especially busy periods, like weekends or holidays, to cover all the bases. Try to keep a low staff-to-customer ratio. Scheduling employee lunches and breaks, while providing enough coverage, helps to minimize theft. The same goes for the warehouse. Avoid gaps in coverage so employees won’t feel tempted.
Developing relationships with customers doesn’t only boost business and create loyalty, it also goes a long way in preventing theft. A potential shoplifter isn’t interested in being friendly to store personnel. A distracted store associate isn’t paying close enough attention to what else is going on in the store.
Smiling and greeting entering customers removes the anonymity potential shoplifters prefer. When new customers hear your greeting of recognition to repeat customers, it lets these criminals know you have a firm grasp on who is entering and exiting your place of business.
Cut your losses
Loss prevention doesn’t just end product loss, it also boosts sales. A welcoming business and employees who feel like a team create a sense of loyalty.
Going further, by adding in a security camera system solution, installing proper lighting and organizing your business and warehouse go a long way to keep down theft, so you can put the focus back on growing your business.