Why Physical Security Should Be A Priority For Retail Businesses
Over the years, retailers have embraced innovation with software solutions to manage operations like finances, payroll, and inventory management. With this change, the focus has shifted from physical security to cybersafety. Of course, no business can take customer records for granted. But physical threats are an equally crucial concern in retail settings. In fact, it is a pressing concern in the new normal when you have to manage the returning foot traffic while taking care of social distancing and virus safety as well. Not having robust security controls means that your store is open to the threats of theft and pilferage. Here are some reasons every retailer should prioritize physical security.
Multichannel sales increase theft risks
With sales going multichannel in post-pandemic times, theft risks are significantly higher. You cannot expect to keep an eye on buyers in-store, customers looking for curbside pickups, and employees packing for e-commerce orders simultaneously. There is always a chance you will miss out on something. Moreover, the pressure to maintain social distancing and pandemic precautions in the store can divert your attention even more. Investing in physical security with guards and surveillance systems makes sense. It is a small price to safeguard your store and products from theft. You have to worry less about shoplifting. It means you can focus more on other aspects of multichannel sales.
Physical inventory requires extra care
Even small retailers have thousands of dollars worth of inventory at all times. After all, they need enough to keep the sales churning at all times. But managing your inventory requires attention to physical security besides ensuring you do not have too much or too little in stock. The inventory stock is always a tempting target for thieves, specifically when you close down at night. Having uniformed security to guard your place is a good option. These professionals ensure no one breaks into your store after dark. At the same time, just having them around is enough to dissuade thieves and burglars from trying to break in.
Employee pilferage is a growing concern
Statistics show that the average cost of employee theft is as daunting as traditional shoplifting incidents. Pilferage may happen during the opening hours as employees may simply walk away with products. They may even give free or discounted merchandise to people they know. Alternatively, they may come back to steal goods after the store closes. You can avoid such incidents by having a reliable background screening process in place. Besides vetting employees, you must have surveillance systems and guards to check every person leaving the premises after work. It becomes all the more crucial for retailers dealing in cash and high-value products.
Pandemic or no pandemic, physical security should always be on top of your mind when operating a retail business. It deserves as much attention you can give, whether you run a small store on the corner of the street or a large chain retail establishment. Ensure that you implement the best systems and practices to safeguard your store from external and internal threats.
Multichannel sales increase theft risks
With sales going multichannel in post-pandemic times, theft risks are significantly higher. You cannot expect to keep an eye on buyers in-store, customers looking for curbside pickups, and employees packing for e-commerce orders simultaneously. There is always a chance you will miss out on something. Moreover, the pressure to maintain social distancing and pandemic precautions in the store can divert your attention even more. Investing in physical security with guards and surveillance systems makes sense. It is a small price to safeguard your store and products from theft. You have to worry less about shoplifting. It means you can focus more on other aspects of multichannel sales.
Physical inventory requires extra care
Even small retailers have thousands of dollars worth of inventory at all times. After all, they need enough to keep the sales churning at all times. But managing your inventory requires attention to physical security besides ensuring you do not have too much or too little in stock. The inventory stock is always a tempting target for thieves, specifically when you close down at night. Having uniformed security to guard your place is a good option. These professionals ensure no one breaks into your store after dark. At the same time, just having them around is enough to dissuade thieves and burglars from trying to break in.
Employee pilferage is a growing concern
Statistics show that the average cost of employee theft is as daunting as traditional shoplifting incidents. Pilferage may happen during the opening hours as employees may simply walk away with products. They may even give free or discounted merchandise to people they know. Alternatively, they may come back to steal goods after the store closes. You can avoid such incidents by having a reliable background screening process in place. Besides vetting employees, you must have surveillance systems and guards to check every person leaving the premises after work. It becomes all the more crucial for retailers dealing in cash and high-value products.
Pandemic or no pandemic, physical security should always be on top of your mind when operating a retail business. It deserves as much attention you can give, whether you run a small store on the corner of the street or a large chain retail establishment. Ensure that you implement the best systems and practices to safeguard your store from external and internal threats.
