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Why Loss Prevention or Retail Security Important ?

THE IMPORTANCE OF RETAIL SECURITY, AND HOW ITS’S PREVENTING LOSS

Retail businesses inevitably experience theft. Depending on the type of business, the risk of theft could vary depending on product type. For instance, jewelry or technology stores may face a higher risk of shoplifting because their inventory is more expensive. However, implementing a security solution tailored to meet your business’ needs, can benefit significantly with loss prevention.

PREVENTION

The mere presence of a security system often deters theft. If a potential thief sees cameras or signs warning they are being filmed, they’ll be less likely to attempt to shoplift. With a security system in place, it becomes obvious that the retail store is taking loss prevention seriously, and become a less likely target for thieves.

PEACE OF MIND

Because the obvious presence of a security system deters theft, business owners will have peace of mind knowing that the likelihood of shoplifting is low. As such, managers and owners can fully dedicate their attention to other aspects of the business, not having to worry about retaining their inventory.

LEGAL MATTERS

Should an unfortunate incident occur in the store, having a video record of it can aid law enforcement. It provides a visual record of the incident and can help identify perpetrators. If a thief is identified, the police have a much higher chance of being able to track them down, and you have a possibility of prosecuting them and possibly recovering the stolen items.

The cost of lost inventory can pile up quickly. Most retail stores are at some risk of theft, either during business hours or after That’s why seeking Retail Stores security services and Loss Prevention Security Services can be invaluable to a company.

Ontario Shoplifting Statistics Suggest They’re Worse Than Americans.

Ontario retailers might need to keep a close eye on their customers this holiday season: as nearly a quarter of them could be shoplifters.

This, according to a new poll from Forum Research.

A telephone survey conducted Dec. 19 and 20 asked 1,058 Ontarians whether they had stolen items from stores; alternately, they were given the option not to answer the question.

Fifteen per cent of respondents admitted to having sticky fingers, while 12 per cent didn’t answer. Forum took this to mean that around one-quarter (27 per cent) could be guilty of shoplifting.

People in the 18 to 34 age bracket had the highest number of people (22 per cent) freely admitting to the activity, followed by people aged 35 to 44 years old, out of whom 19 per cent admitted it.

Eighteen per cent of men in the survey openly admitted to stealing, compared with 12 per cent of women.

The survey also broke down respondents by political affiliation. More people who preferred the Greens either admitted to shoplifting or didn’t want to answer than any other party, with the NDP coming second.

“Shoplifting, petty theft which is relatively easy to admit to, is a young person’s game, and that’s a proxy for New Democrats, Greens and the non-religious,” Lorne Bozinoff, Forum’s president, said in a news release.

And though this is a small sample, and only counts people who admit to the activity, rather than people who’ve been found guilty of it, those are high percentages when compared with statistics in the United States.

The National Association for Shoplifting Prevention estimates that 27 million, or one in every 11 people, have shoplifted, while over 10 million have been caught doing it in the past five years.

But shoplifting, as it turns out, is not a victimless crime (unlike punching someone in the dark)—North American businesses will apparently lose some $40 billion thanks to the ol’ merchandise snatch-n’-grab.

A Desjardins Insurance primer on shoplifting says that more than 30 per cent of thieves plan to steal ahead of the act itself, and that it mostly has to do with “social or personal pressure,” rather than anything financially-related.

It said that shoplifters “often buy certain items while stealing others,” and are only caught once every 50 times.

“The excitement of not getting caught produces a euphoric chemical reaction, and many shoplifters admit that the kick they get is a better reward than the stolen goods,” the report said.

Courtesy by: https://www.huffingtonpost.ca

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