A LITTLE WISDOM

A LITTLE WISDOM
Shoplifters are Robbing You Blind!Being a brick-and-mortar retailer with stiff competition from e-marketplace, the last thing you would want is to lose your sales to shoplifters.In a recent article on indiaretailing.com, it was reported that in 2010, more than Rs 9,295.9 crore were lost to shoplifting and theft by Indian retail sector. And according to National Retail Federation of US 2016 report, United States went into $45.2 billion loss with shoplifting as the biggest contributor.Types of Shoplifting

There are two types of shoplifting – Organised Retail Theft and Opportunistic Theft. Organised Retail Theft is the work of shoplifting gangs, who typically target bigger retailers with low security systems. Opportunistic shoplifters are people who don’t plan to steal something, but spot an opportunity and then decide to rob the item. Nearly 3/4th of shoplifting events fall into opportunistic category.

Shoplifting Facts

  1. Juveniles and Professionals come in gangs, they use diversionary tactics like picking an argument or even fainting when others calmly rob.
  2. Many shoplifters buy and steal merchandise in the same visit
  3. Shoplifters steal an average of 1.6 times per week
  4. They rob when the security is very lax
  5. They rob when there are not many people on the floor especially employees. Hence lunchtime is a big risk time
  6. They are not deterred by cameras

Shoplifting Techniques

  1. Using hiding tools: Books, magazines and newspapers are used to conceal robbed items.
  2. Layering: Layered clothing under the worn jacket is quite a usual mode of robbing cloths.
  3. The undergarment technique: Undergarments changed in dressing room is a rampant type of robbery.
  4. Padding: Stuffing other items inside pockets of cloths that they buy.
  5. Using children: Professionals use children to hide items in their pockets.
  6. Hiding: Hiding items in their sleeve or inside trousers or skirts.
  7. Simply wearing: Just wearing it and walking out. Shoes, shirts, ties etc.

The Impact of Shoplifting on a Small Margin Business  

The theft of a Rs. 200 cloth item store, operating on a 10% margin requires the sale of Rs. 2000 in merchandise to make up for the loss. Grocery stores and others operating on low margins of 1% must sell Rs. 30,000 in merchandise, just to cover the cost of a Rs. 300 item.

Prevention is always better and cheaper

The National Association for Shoplifting Prevention has stated that millions worth of goods are stolen from retailers every day. And while all businesses are susceptible to shoplifting, some — like clothing, book and jewellery sellers are more so. While security cameras can help identify suspects after a theft occurs, there’s plenty a retailer can do to prevent shoplifting from happening in the first place.

Using E-Surveillance as an effective tool

using-e-surveillance-as-an-effective-tool

E-Surveillance is the most effective tool that can not only detect, but also prevent shoplifting.

Cameras are installed to cover all areas of the store. These cameras are then connected to a central monitoring station. Executives at the central monitoring station view every part of the store to detect suspicious activity. Once it is detected, a message will be given to the in-house security guard to approach the customer and handle the person.

With E-Surveillance, there are eyes watching every part of the store all the time. It is very economical when you consider the number of floor supervisors you require to watch every inch of the shop. The E-Surveillance can be coupled with 2-way audio system to warn the person that he is being watched.

Based on its irrefutable results, E-Surveillance has considerable reduced Shoplifting and is considered one of the best ways to prevent it.

Time to Evaluate

While it may not be possible to completely eliminate shoplifting, you can certainly make it more difficult for potential thieves to rob you.

Securens has been providing high quality E-Surveillance to detect and deter shoplifting and such similar thefts. The cost is now an investment towards saving! With this solution, you will not only save a great deal on cost of guards, but will also save considerable amount of money lost from shoplifting. A double savings in one solution! The ROI can be seen from the very first month onwards! The solution is provided in OPEX model and is balance sheet friendly.

Source:HTTP://WWW.INDIARETAILING.COM/2017/04/02/RETAIL/IN-STORE-SECURITY-A-FIX-IN-THE-TIMES-OF-DIGITAL-RETAIL/