Experiencing Shrinkage and Theft in Your Retail Business? It’s Your Money! Protect it!
Do you own, operate or manage a retail location in New York?
In the year 2011 retailers lost more than $34 billion dollars to theft. Every year the National Retail Security Survey publishes their findings and it is essential that all retail shop owners/managers take a look at these alarming statistics. Shrink and Loss Prevention are a priority for all employees in the retail industry. Today, Organized Retail Crime (ORC) gangs, shoplifting, internal theft, sweet hearting and flash rob theft all pose huge threats to retailers. The best way to protect yourself and your valuables is to educate yourself and seek the proper security system for your business.
Organized Retail Crime- professional shoplifters who calculate the details of their crime and blend in with all other customers
Shoplifting- customers who steal items or money for your store
Internal Theft- employees who are stealing money or products from you
Sweet Hearting- employees who give unauthorized discounts or free products to family members and friends (form of internal theft)
Flash Rob Theft- theft committed by a large group of young adults who raid a store while breaking products and posing an extreme threat to employees and other customers
Retail Shrink & Loss Prevention Facts:
- Employee theft makes up the majority of shrinkage at 43.9% ($15.1 billion)
- Shoplifting accounts for 35.7% of shrinkage ($12.3 billion)
Fortunately for you this 79.6% loss = 100% preventable!
Installing the proper business security cameras in your store can help you significantly decrease your shrinkage. Placing your cameras in key areas is essential in order to maximize use.
The best locations to place your cameras are:
- Entrances & Exits
- Cash Registers
- Selling Floor
- Stock Rooms
- Bathroom Entrances
If you are a retailer based in New York, take your time to research your security options and keep in mind that finding the best security camera system to fit your needs requires minimal effort and can make a noticeable difference when it comes to your profits. It is your business and your money- protect it!