It never ceases to amaze me when I walk through my local mall and I see a store with absolutely nothing for Retail theft prevention. There isn’t a locking peg hook, apparel soft tag, no Checkpoint security system or anything that could even remotely Stop Shoplifting. Now I’m not talking about the anchor stores and big boxes selling $6 t shirts I’m seeing this in the mid and smaller retailers, the boutique style stores with $135 pairs of jeans and $300 purses that are laying naked on the shelf.
I’ve had occasion to ask store managers and owners if they had no protection because they didn’t see much theft. You probably won’t be surprised to hear that I have never had one say this. What I do hear is that investing in Retail theft prevention like the Checkpoint security system is too expensive to be worth it. Too expensive? Really? I wasn’t a math major in college but I’m pretty sure at $135 per pair of jeans it doesn’t take more than a few booster hits to really wreck your profits and drive shrink through the roof.
I point this out and I’m usually countered by people saying that those systems don’t stop shoplifting 100% anyway so why bother? This answer always amazes me. I’ve been doing security work for over a decade and I can tell you that barbed wire and machine guns aren’t enough to Stop shoplifting 100% and neither is locks, chains and glass cases but you don’t see jewelry stores laying merchandise on nice neat shelves instead of inside locked cabinets.
Devices like the Checkpoint security system provide a strong visual signal that you want to protect your merchandise. Both professional thieves and the fence sitting general public will have to choose to challenge that system if they want to steal from you and in many cases they will avoid that risk. Successful Retail theft prevention is all about maximizing the value of the dollars spent on security by increase profits and reducing shrink.
The investment you make to Stop shoplifting may not always look like it is making you money, especially when you look at the line item expense on your P&L but come year end the systems more than pay for themselves. I’ve seen $3000 booster hits prevented by something as simple as a door alarm and an attentive associate. That was one attempt, by one booster. Doesn’t take many of those types of preventions for that investment in retail theft prevention to pay for itself.
There is more value that your investment into a Checkpoint security system that you can’t see. The people who never try to steal because they know your protected are an invisible, but gigantic part of the puzzle. We can’t say for sure how large this number is but if the industry average for loss to theft is 11%, and that is with a Retail theft prevention system in place to Stop shoplifting, it isn’t a large stretch to imagine what that loss looks like to an unprotected store.
Last, but certainly not least is that equipping your store with a Checkpoint security system may be an expense but it is paid one time. Theft can occur every day, of every week, of every month, of every year. The system you install can last you for years and once it has paid for itself in shrink reductions that investment starts making you money, week after week, season after season. If you’re not protecting your inventory you are losing money on your inventory and it’s only a matter of time before your results show the High cost of doing nothing.
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