As a retail shop owner, you probably know that there are certain times of the day when inventory shrink is more prevalent than others. Fortunately, there are things you can do to reduce and sometimes even stop it. Here at RTF Global, our mission is to help you do just that.
What Times of Day Does Retail Theft Typically Occur?
Retail theft typically happens during the hours of 3:00 p.m. and 11:00 p.m. Naturally, this will depend on the nature of your business, geographic location, and other factors. The best way to determine your hours of highest risk is to keep track of each incidence of retail theft in your location and keep a running loss log.
How to Prevent Retail Theft at All Times of the Day
There are a number of methods you can use to reduce losses from theft. These include:
- Train staff with anti-theft techniques
- Consistently update retail inventory
- Optimize your store layout
- Install security cameras
- Invest in Anti-Theft Devices
1. Train staff with anti-theft techniques
There is no potentially greater asset in your anti-theft strategy than your employees, especially the sales team that walks your showroom floor. Their mere presence among your inventory is the best theft deterrent you can leverage. Therefore, optimize the way they move and “patrol” the floor and how they engage with shoppers, and you may see a big improvement.
2. Consistently update retail inventory
Naturally, it’s tough to know when something has gone missing if you don’t have your inventory properly listed. For this reason, it is essential to update, check and triple-check your inventory list regularly and consistently. After all, if something is stolen and you don’t have a record of it, you won’t even know that it’s gone!
3. Optimize your store layout
Every good retail business owner knows that making the most out of space, maximizing angles of visibility, and giving thieves little to no place to hide will cut theft in half at least.
4. Install security cameras
Security cameras are always a good idea. Install them where visibility is limited and make sure customers can tell where (most) of them are. Further, install camera monitors where staff can easily and frequently see them. As an aside, don’t forget about mirrors.
5. Invest in Anti-Theft Devices
RTF Global specializes in anti-theft devices that protect highly targeted items. They are unintrusive and allow customers to handle items while deterring thieves at the same time. Here are a few links to our most popular and effective products categorized according to the inventory types for which they are specialized.
- Mobile Phone Retailers
- Electronics Retailers
- Hardware Stores
- Valuable Merchandise Retailers
- Mobile Phone Repair Stores
- Store Fixture Companies
To learn more about how our anti-theft devices can help you dramatically reduce retail theft, get in touch with our team today.