According to the National Association for Shoplifting Prevention, there are over 27 million active shoplifters working in the country today, while over 10 million people have been caught for shoplifting in the past five years alone. Electronics retailers are particularly susceptible to shoplifting because most digital devices and accessories are small, plus there is the added threat of return fraud, employee theft, and other schemes designed to harm the wireless retailer, produce product shrinkage, and lower your bottom line. But an investment in technology, management techniques, alternative training techniques and sophisticated video intelligence systems can help you boost the customer experience in your retail operation and minimize the risks that shoplifters represent.
Customer Service is essential to loss prevention
Customer service can be a key technique in stopping money and products from heading out your doors. By using video monitoring and analysis, each point-of-sale transaction can be monitored for fraud, theft or other deceptions. But video intelligence can do more than simply monitor the flow of traffic and products through your retail operation. This type of retail analysis can also help monitor the performance of every single employee in your operation, which will also tell you which employees are selling more, which ones are most effective at identifying and stopping shoplifters, and which techniques are most effective at reducing loss.
Engaged employees are effective at stopping loss
By monitoring the performance of your employees, you can also help them to become more engaged. When employees greet every single customer as they enter your retail establishment, it helps let potential shoplifters know that your retail salespeople and security personnel are aware of their presence and that they’re being monitored as they move throughout the store. It is also important to make your employees aware of potential methods for customer fraud and shoplifting including hiding items in hidden pockets or other secretive areas.
Video monitoring prevents collusion
One of the worst offenders when it comes to shoplifting is the tarnished or resentful employee who purposefully looks the other way when one of their friends or family decides to get light-fingered in your store. Video monitoring can be an effective tool not only to prevent this type of fraud, be it returns or shoplifting, but also to identify unusual behaviors on the part of a specific employee. Video monitoring can also help you regulate your staffing so that an appropriate number of employees are on staff at certain times, and two or more employees don’t share shifts regularly, giving them an opportunity to work together to lift money or product. It is also useful not only monitor retail guests but also to use either visible or hidden cameras to monitor stockrooms, loading docks and other areas where employees may be left alone with access to valuable products. Retailers should also use smart, technology-driven inventory controls, strategic store design and smart camera placement to combat shoplifting.