School is officially back in session, which is great for retail businesses! Parents have more free time on their hands to shop, college students need to fend for themselves while away from home, and high school students might want to spend some of the money they earned from their summer jobs. This increase in foot traffic comes with its own set of risks for retail businesses, including retail theft. This means that retail theft prevention is crucial for your business.
You might not know it, but theft is still a common issue for retail businesses in Canada. In fact, Canada’s retail industry loses roughly $4 billion a year to theft every year, from both customers and employees. To help you stop shoplifters in their tracks, we’ve outlined 6 retail theft prevention tips for your business below:
1. Make your presence known to ward off suspicious shoppers; a friendly greeting to your customers can guilt-trip sneaky shoplifters.
2. Review your store’s layout to make sure there’s enough lighting throughout; you can’t catch shoplifters if you can’t see them! An elevated sales counter cab also help provide you with better store visibility.
3. Install a welcome bell at your door to help you keep track of who’s entering your store; it’s also just a fun sound, in general!
4. Keep expensive items near the checkout counter; certain items in your store may be prime targets for amateur Robin Hoods.
5. Use electronic tags on all your merchandise to detect non-purchased items that exit your front door; nothing stops a quiet getaway quite like an obnoxious alarm.
6. Set up security cameras to help you capture blockbuster footage of every nook and cranny in your store. Click the image below to download our infographic on setting up the right video surveillance system for your business!
Want to protect your business from risks other than retail theft prevention? We can help!
Looking for more ways to protect your business? Having solid business insurance coverage can help you recover after a sudden break in or a costly lawsuit. That’s where TruShield Insurance comes in.
TruShield can provide your business with tailored coverages that meet your individual needs. We offer customizable coverages, including property insurance, general liability insurance and commercial auto insurance.
We’re dedicated to educating retailers on the risks of running their business with our industry-leading expertise, and we’re here to help you make the right choices for protecting your small retail business.
This blog is provided for information only and is not a substitute for professional advice. We make no representations or warranties regarding the accuracy or completeness of the information and will not be responsible for any loss arising out of reliance on the information. Terms, conditions and exclusions apply to coverage. See policy for details.