Running a successful retail business is much more than making profits and garnering new customers. In fact, it’s about ensuring the safety of your employees, customers, and goods, too. With ever-increasing theft, retail stores are not spared.
According to Capital One research, US retailers lost an estimated $86.6 billion to retail theft in 2022, and this is projected to rise to over $115 billion by 2025. (1) Hence, having proper retail security has become a necessity. But, how do you know whether you need one or not? Let’s explore that in detail.
Reasons You Need Retail Security
Ready to grow your business with confidence? It’s time to make security your smartest investment—here’s why it’s a game-changer.
Frequent Vandalism
If you constantly witness incidents of vandalism, like graffiti, broken windows, or furniture damage, you should hire an experienced and technologically advanced security agency for guarding purposes. In addition to looking unpleasant, such incidents tarnish your reputation and also drive away your customers.
Store security guards not only guard your business premises but also create a physical deterrent to potential crimes. Their mere sight is enough to drive away vandals.
Shoplifting Incidents
If you’re noticing an increase in stolen goods or missing inventory, you need to invest in a retail security system. Shoplifters often target businesses without security. Consider installing CCTV cameras in every corner of your store to keep the premises under surveillance 24/7.
When potential shoplifters see security cameras, they will not commit such crimes. Your customers will also feel safe knowing that the store is being monitored constantly.
Employee Safety
If your employees feel unsafe, their performance is affected, and this ultimately affects your business and customers. If you often get remarks about harassment or threats from your employees, you need to take quick action to create a safe working environment for them.
Manned security guards can provide a sense of safety to your employees. If a heated argument takes place between your employee and a customer, the guards can intervene and respond to any security threats.
Peak Shopping Season
Hiring security services during peak shopping times, like festive holidays, is essential. You usually witness a high influx of customers during peak hours, and it can be quite challenging to manage large crowds. And in times like these, the risk of shoplifting, vandalism, and theft increases significantly.
Hiring security guards during such events is the best decision you can make, as they can easily manage crowds, customer disputes, and employee safety. They can even cater to customer inquiries, creating a positive shopping experience.
The Bottom Line
Retail theft is on the rise, and it’s crucial to manage it. Retail security, such as hiring a security guard or installing CCTV cameras, can potentially decrease the theft rate. In addition to providing security, guards can assist customers, protect your employees, monitor your store, and report to law enforcement agencies if the situation escalates.
FAQS
Q. How do I secure my store?
You can secure your store by installing a high-quality CCTV system, hiring trained guards, and training your employees to handle conflicts.
Q. How can retail security increase the level of trust customers have?
The presence of guards or surveillance technology makes customers feel secure, increasing both the likelihood of them enjoying shopping and their future return visits.
Q. Do even small retail stores require security measures? Definitely, small stores are often seen as easy targets. Even the most basic security measures can ease worries and significantly prevent losses.