TK retail stores are exposed to a number of dangers, ranging from theft to violence to fire. Based on recent statistics, products worth almost $69 billion were stolen from retailers in 2019.
Moreover, retail crime at the national level cost businesses $125.7 billion in terms of lost economic activity and caused the loss of 658,375 jobs.
TK retail store owners and managers must proactively ensure their workers, customers, products, and assets are protected from these and other risks. Here are four major ways in which they can achieve this goal.
#1 Investing in a retail security camera system
There are multiple advantages to investing in a modern retail security camera system. When properly implemented, video security can allow you to obtain complete monitoring of your store, observe customer behavior, prevent illegal acts, and streamline business operations.
Video security cameras serve a double purpose. First, they can work as a deterrent against criminals who are less likely to commit crimes on your premises if they know that their actions are being recorded. Second, they allow retail owners and managers to collect evidence of a crime that has happened, which can help authorities identify and convict the authors.
When setting up a retail video security system, it’s important to choose the right type of camera based on your needs as well as your store’s characteristics and location. For example, PTZ IP camera systems are ideal for monitoring large spans, while thermal cameras are useful in providing night vision and detecting intruders in dark environments.
Retail store owners and managers should also consider implementing video analytics software to elevate the effectiveness of their security strategy. This software works by analyzing large volumes of footage and detecting irregular patterns that may indicate suspicious activity. This would trigger an alert to security staff, increasing the chances the threat will be neutralized before it can result in actual damage.
#2 Using anti-theft devices on merchandise
As highlighted earlier, retail theft can cause significant damage to commercial businesses and to the retail industry in general.
One step store owners and managers can take to protect themselves against these occurrences is to install anti-theft sensors. These technologies can alert staff in real time if somebody tries to take an item from the store without paying, meaning immediate preventive action can be taken before the criminal can finalize the theft.
It’s also important to note that investing in these technologies can help retail stores lower their insurance premium as insurance companies tend to offer better conditions to businesses that take effective action to decrease the frequency of thefts.
This investment can also positively impact customer trust as consumers are more likely to shop in a store they perceive as secure.
#3 Investing in an integrated alarm system
An integrated alarm system is another crucial component of a retail store’s security strategy. Its main benefit is that it allows for fast notification of suspicious activities. When the alarm is triggered, a chain reaction will lead to your security camera capturing footage of the incriminated activity and your access control systems automatically locking doors to prevent criminals from accessing the store or specific areas of it.
The implementation of such a system is particularly useful in preventing activities like shoplifting and pilferage, which can cause significant damage to the retail store’s bottom line.
Nowadays, store owners and managers can find affordable alarm technologies that can be easily integrated with the store’s other security devices.
#4 Implementing smart access control and visitor management solutions
Access control and visitor management solutions are another pillar of solid retail store security strategies. These technologies can ensure that only authorized personnel can access private areas of the store and that visitors are properly identified and tracked.
Traditional access systems require a key or similar mechanisms, such as cards and fobs. One of the major modern developments in this field is adopting keyless access control measures.
For example, workers can use their smartphones as a form of digital credentials. This has many benefits. First of all, it’s more difficult for unauthorized personnel to use a stolen or lost smartphone to access the premises compared to a stone or lost key (or card). That’s because smartphones typically require a passcode before they can be used. Second, it’s easier for managers to authorize or revoke access or grant access to different roles.
A more advanced type of touchless access control is facial recognition, which works by scanning the faces of individuals trying to gain access and matching them with authorized personnel.
Retail businesses should also consider implementing a multi-factor authentication (MFA) procedure, which requires users to enter two or more credentials before access to a certain area can be granted.
Visitor management solutions are also a crucial component of a retailer’s security systems. These technologies allow owners and managers to easily track visitors’ whereabouts, meaning they can easily be identified in case of a potential threat. These technologies typically feature tracking, pre-screening and visitor registration capabilities as well as biometric and analytics solutions.
To Sum It Up
For owners and managers, ensuring the security of their TK retail stores is paramount. In order to protect themselves against theft, shoplifting, and other threats, stores must implement various measures, such as anti-theft sensors, an integrated alarm system, access control solutions, and multi-factor authentication procedures.
