7 Anti-Theft Devices You Can Use To Protect Your Retail Store
Theft in your retail store can be extremely damaging to your bottom line. Think about it: if you have a 10% margin on each sale you make, you would need to sell an additional $1000 worth of products to compensate for a loss from a $100 theft. That’s a big deal!
According to a national retail survey held in 2009 in the US, the average shoplifter walks out with $438 per theft, and the chance of being caught is only 1 in 48. The value of goods being stolen each year from retail stores in the US alone is in the billions. If you’re a serious retail business, you simply cannot ignore this.
The good news is that there are many tools, devices, and strategies you can use to address this problem. Combining technology with a smart anti-theft strategy, you can catch thieves red-handed, make your store theft resistant, and reduce losses.
In this article, we’ll go through the top devices retailers use to prevent theft. You’ll learn 6 methods they’re using, and pick up some insights on how you can do the same. We’ll also look at the future of anti-theft technology so you’ll see how it’s all shaping up 5 years from now.
Let’s get into it!
If you have high-value products in your retail stores like laptops, mobile phones or others, merchandising security is a great way to allow consumers to pick up and test your products while keeping them tethered to your display furniture.
Some retailers use a security stand that mounts on top of their furniture and allows them to display phones, watches, tablets, and cameras while keeping them secure and tethered. Have a look below:
There is a wide range of merchandising security equipment available, from magnetic holders, wired grip holders and others. You can choose which ones are best suited to your products depending on the shape, size, and value of the products you’re safeguarding.
Some merchandising security devices come with in-built chargers so your displayed products are always charged to ensure a great customer experience. You can find these devices (as well as the one above) in electornic stores as well as general retailers like Amazon.
Physical locks and cables also make it harder for thieves to just pinch a product from your shelves. Many retailers put mirrors all around their store, to improve the visibility of displayed products, such that thieves become more conscious of their acts since they feel more ‘watched’. They’re cheaper, non-technical loss prevention devices that can be simple, yet very effective.
One of the most effective devices to prevent inventory loss, is smart and frequent inventory management. By watching your inventory like a hawk through regular stock counts and monitoring discrepancies, many retailers dramatically decrease theft at their stores. Using smart barcode scanners to do stock takes to accurately account for your inventory levels is helpful.
Another key measure retailers use is by monitoring ‘user permission levels’ of their staff for operating the POS system. Vend allows you to set different permission levels, so only key employees can edit data on your system.
Taking these steps will ensure you know when something goes missing, which prevents culprits from stealing your products!
Looking for a solution to help you stay on top of your inventory? Vend’s stock control capabilities help you gain better inventory visibility so you can curb theft, improve accuracy, and more.
You need to tell customers they’re being watched, and what the consequences of shoplifting can be. Through installing anti theft signage across the entire store, retailers instantly warn potential thieves from acting unlawfully. Here’s an example of an effective signage tool:
Again, a simple, cost effective tool that does the needful!
In some cases, you may want to prevent people from taking products from a display. Maybe the merchandise is valuable or prone to theft. Whatever the case, you can keep them secure with display locks, such as peg hook devices.
Peg hook locks can prevent sweep theft. You attach them to the hook of your display and they can only be unlocked using a magnetic removal tool.
Another option is to use lockable glass or acrylic displays. These are clear retail display cases that can showcase your products so shopppers can still view them.
Perfect from high-value items like jewelry, these cases can typically be unlocked with a key, so shoppers would have to approach a staff members if they want to touch an item in the case.
Surveillance cameras at key points around your retail store, complemented by video analytics software can be a fantastic theft prevention formula. The software identifies whenever any kind of suspicious movements occur, like if a customer walks out the door without paying, You’ll instantly get an alert if this happens.
With information on demographics, incoming & outgoing people count, and heatmaps for more advanced visitor analytics, you can pinpoint the likelihood of theft with greater accuracy.
If you use cameras with facial recognition technology, it becomes easy to identify ‘known’ thieves, by matching them against an existing database of criminals or thieves supplied to you by the police.