Retail crime seems to be constantly on the rise in recent years. Whether due to social changes, financial hardships or something else entirely, as shopkeepers and retailers, it can be a worrying and often scary thought. With an eye-watering £2.5 billion cost of crime to retailers, including £935million in consumer theft alone, shops are being encouraged now more than ever to get their security up to scratch as best they can.
From a trustworthy CCTV system to online security, risk management and of course, a good insurance policy, there are a number of things you can do to improve your shop’s security. We’ve put together an infographic of five of the top to help you get started.
Did you know that around 96% of the UK’s total CCTV cameras are owned privately? These cameras belong to shops and homeowners, offering both a form of security and a deterrent. With the accessibility of CCTV today, it has made significant moves in crime prevention, allowing you to not only monitor the shop floor and watch back to catch criminals in the act, but cameras can also act as a deterrent for those that may have otherwise attempted a crime. If a crime is caught on camera, it can make it easier to prosecute and provide evidence where needed.
The online world is a vast one, filled with a number of opportunities for businesses to expand and interact with their customers online. With a growing online presence and digital usage, however, comes additional risks that need to be considered. Implementing a good cybersecurity system can help protect your business and your customers’ data against ransomware and virus attacks. Retail cybercrime, with everything from injection attacks, IP address infiltration, fake payments and email hacks, can lead to data loss, income loss and security breaches, so it’s important to ensure you have a good cybersecurity system in place.
While good security systems and risk management protocols can help to prevent issues, insurance acts as a support to ensure that you are protected financially in the case of accidents. Shop insurance will typically protect you against financial losses, claims made against you and protection in the case of stock theft or damage. In the case of an accident involving a member of the public in which they are injured or their property is damaged, a public liability insurance policy can offer financial support for legal fees and compensation to protect your business financially.
Every shop faces its risks and proper risk management can be the difference between smooth sailing and disaster. It’s important that you have a proper risk assessment schedule, checking regularly for any potential fire hazards, trip hazards, stock vulnerabilities and more. Once you’ve determined the potential risks, you can put contingencies in place to ensure that you are protected and damage is minimised. Having a plan already ready to go for risks ranging from something as big as a natural disaster or building fire to something as small as a fallen roof tile or leaking gutter, can help you to better prepare for these situations without any long-term or lasting disruption.
Without proper stock management, it can be nearly impossible to keep track of whether anything is missing which, in cases of shoplifting, could mean that the person gets away with it. Having good inventory management software offers you an easy way to check if things are as they should be, and can even help you better determine when you need to order more or what items are more popular than others. Keeping track of what’s being sold, if anything is missing or if there are any inconsistencies can help you catch crime, maintain good stock levels and ultimately improve your store’s offerings in the long run.