By Julie Tilenius
From the August 2024 Issue
Continuing inflation, rising prices, and uncertain economic prospects have made affording the lifestyle we’ve been used to more difficult. As economic conditions decline further, instances of retail theft have been getting more attention. According to a report from Statista, 13% of small business owners in the U.S. said they experienced retail theft every single day in 2023. The data is unclear on exactly what’s driving the trend or why the rate is rising, but preventing these instances is top of mind for leaders in the retail space.
Luckily, there are opportunities to address this issue and minimize inventory loss. To find the best solutions for specific circumstances, facility managers want to understand the available options to deter and prevent theft; the unique needs of a location; and the bandwidth a staff must monitor suspicious activity. When considering an external partner to reduce the risk of retail theft, make sure they have qualified technical experts and direct sourcing networks. With these resources, retail facilities may have shorter wait times to get new equipment and faster support to get systems back up and running.
Facility leaders need to understand the different types of loss prevention strategies: Visible deterrents and security make potential theft seem less appealing or achievable; exterior solutions make it difficult to enter the store after hours; and interior solutions make it difficult to obtain product without purchasing it. Here are a few examples of each type of solution and how they can help combat retail theft in your locations.
Visible Deterrents
Potential thieves are much less likely to try to swipe product if they don’t think they can get away with it. This could be as straightforward as installing cameras and reminding customers that they are being recorded. Having an attentive staff goes a long way with customers, but it also reminds potential thieves that there is someone likely to notice any shady behaviors. When these strategies alone aren’t enough, consider hiring a security guard to watch the store and ensure things are running smoothly. When people encounter these measures, they often won’t even notice unless they were thinking about doing something they wouldn’t want others to see.
Exterior Solutions
Keeping intruders out of a closed retail facility, and any restricted areas, is the first line of defense from the traditional smash and grab-style robberies depicted on crime shows. Security film can help prevent a forced entry on glass storefronts; provides deterrence to smash and grab perpetrators; and gives the facilities team precious time to react. It also requires no maintenance after initial installation, and is available in varying defense levels to stop anything from small vandalism to ballistics.
Rolling shutters can protect storefronts, retail service counters, kiosks, or concession areas against break-ins, theft and vandalism. These solutions install in existing structures or window framing and can easily be concealed during business hours. These exterior solutions do not have to impact the storefront’s look—a welcoming appearance can still greet potential customers. Entry point rolling grilles can protect exterior and interior openings in nearly every type of store. These rolling grilles can be seen at any American mall during closing time, but they are also a common solution in pharmacies, airports, banks, stadiums, or other public access areas. An expert partner can offer advise on which solution would be best for a specific location and can offer suggestions on different vendors to contact.
Automatic door deadbolts not only keep doors closed, but they can defend against blunt strikes and can be fitted to a variety of doors. There are also options for emergency exit doors that bolt a full inch into the door frame and are not visible from the exterior. By keeping intruders out of stores when they’re closed, facility managers can rest easy and know the location and its staff are safe and secure.
Interior Solutions
Inside a retail facility, preventing high-value merchandise from being stolen during operating hours is critical. Utilizing acrylic locking cases can ensure small, high-value merchandise is handled by the facility’s team before getting into a thief’s hands, making it less likely the theft would try to leave with the item. Drawer and hook locks are other options that require staff assistance when picking out an item, but don’t impact the look of displays as much.
Every retail space should consider their unique theft risks and create a strategy based on their individual needs and the resources they have available. Working with an experienced team is also a good strategy. Experienced consultants in the retail space have seen and implemented solutions in a variety of locations, and can use that information to help decide what solutions are best for each situation.
Tilenius is president of TrueSource, an OnPoint Group Company, a partner to more than half of the U.S. top 100 retailers nationwide and the first call for retailers and property managers in need of critical facility maintenance.
Do you have a comment? Share your thoughts in the Comments section below, or send an e-mail to the Editor at jen@groupc.com.
