In Australia, thousands of businesses suffer tremendous loss every year due to retail theft. Nowadays, it is one of the biggest problems facing small-scale business retailers. Shoplifting accounts for almost 30 percent of the total loss, whereas employee theft covers around 25-30 percent of the remaining misplacements.
Fortunately, there are several security measures which can used by shopkeepers for preventing retail theft. Let’s have a look at the ones which are currently being suggested by experts as the most effective:
RFID Technology: Nowadays, RFID tracking solution is used by various industries for a wide range of purposes such as asset tracking, health care management, document tracking, workforce management, etc. The RFID technology may also prove to be very effective for reducing shoplifting and employee theft. All retails items can be tagged with RFID transponders and if anybody tries to walk out through the door with a tagged product, the interrogator attached to the door would go off, thus catching the thief in action.
Video Surveillance: Video surveillance is yet another excellent way that retailers can opt for reducing theft within their stores. Surveillance cameras would not only help in keeping an eye on customers and employees, but also act as visual deterrents for shoplifters. The cameras must be conspicuous enough to be seen clearly by others. They can even be connected to a monitor placed in some public space so that people would know that they are being observed. The primary significance of video surveillance systems is in the strong message they send to vendors, employees and customers that the issue of theft is being given due attention.
Security Guards: Hiring professional security guards can help a great deal in deterring shoplifters. When things get busy during the day, guards either in uniform or civil dress can observe the activities of the incoming and outgoing traffic of customers. Besides keeping shoplifters at bay, they can also keep watch for dishonest employees.
Video Analytics Software: Video analytics software are designed to digitally monitor people in real-time. The system sounds an alert if it detects any suspicious behaviour. Although expensive than basic video surveillance systems, a video analytics software can track the actions of customers as well as employees, and alarm the authority in case any theft takes place. Installing this software can not only aid in reducing retail theft, but also allow the shopkeeper to focus on the business properly.