7 Effective Retail Loss Prevention Tips

All kinds of businesses face the potential for retail theft. Especially small businesses are more vulnerable. So, store owners should consider loss prevention a top priority.

Is it possible to completely prevent theft and shoplifting in retail stores? Unfortunately, there’s no way to keep your shop 100% theft-free. However, there are plenty of measures you can take now to reduce your risk of shoplifting as much as possible. A few companies stand out in their ability to limit losses. Do you want to be as successful as they are?

Here are 7 effective ways to prevent retail losses.

1. Modify your store layout

Keeping stores clean and organizing store layout so that employees have maximum visibility is a tactic that stores can use to prevent theft.

A chaotic, unorganized store makes it easier for shoplifters to steal.

2. Add Mirrors to Your Store

If you have only one staff in your shop, it seems impossible to look at every corner all the time.

Placing the mirror in the corner of the ceiling or in other key positions provides a broader view. This allows one or two staffs to easily see the whole store.

3. Put up Striking Signs

Theft prevention signs are common in stores around the world. Research shows that a store that emphasizes punishments for shoplifting is much less likely to be robbed.

Remember to hang signs near high value items, like jewelry and electronic product.

4. Install Security Cameras

Installing surveillance cameras is one of the best ways to increase the safety of products. It allows you to keep an eye on the whole store.

The cost of surveillance camera system is decreasing and video technology is improving. So it is worth investing for retailers.

5. Expand Your Team

Hiring more staffs sounds like a costly solution. But inevitably, there will be times when you stay with a customer, in the back, or otherwise unable to watch. In these moment, you will appreciate the help of other team members.

So, hire more staff or security personnel. And make them part of your team.

6. Add EAS System in Your Store

Electronic article surveillance (EAS) is a very effective way to prevent retail theft. It offers a simple way to protect extremely valuable items. The benefits of these security tags outweigh the cost of using them.

Today, these EAS system is affordable for most retailers. So adding EAS system in your store must be a right decision.

7. Use RFID System to Manage Store

Almost all large stores are using a radio frequency identification (RFID) system as added security to their merchandise. It improves the visibility and accuracy of inventory control that store owners require. RFID systems feature chips embedded in product tags or packages that contains the product information. This lets retailers track their items through a stock control system in real-time. Once these tags are attached to the product store owners get to track merchandise easily from its arrival to its sale.

The Bottom Line

Keep in mind these retail loss prevention tips. With the right strategy, you can take back control of your inventory and keep your retail business safe.

Have more loss prevention tips you’d like to share? Let us know in the comments.

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