How Retail Security Saves Businesses

If you run a retail store, you know that one of the biggest threats to your business is theft and other crimes. All types of retail stores are potential targets for criminals, from a chemist to a clothing store to a luxury retailer and everything in between. In fact, recent crime figures show that the rate of shoplifting from stores in England and Wales has hit its highest level for more than two decades. This is a huge problem for businesses, as it costs them a considerable amount of money each year.

For instance, as crime at convenience stores across Britain has soared to record levels, shoplifting now costs shop owners an average of £4,946 per store. While these financial costs are considerable, they aren’t the only damage caused. According to the British Retail Consortium’s (BRC) Crime Survey, levels of retail violence and abuse are also rising, now reaching over 850 incidents per day.

These physical assaults and threats are a part of the total cost of retail crime, which stood at £1.76 billion in 2021/22.

Such high costs are devastating to businesses. Many retailers are still struggling since the pandemic, and losing significant amounts due to crime can be enough to push a business into financial peril or even bankruptcy. High amounts of crime are also damaging to a store’s reputation, as customers who feel unsafe may avoid physical retail stores in favour of shopping online.

Therefore, it’s critical to use the right retail security tools to protect your business. Stopping retail crime could be the difference between your store succeeding and failing.

Why Retail Theft Happens

There are many reasons for retail theft. While the root causes are difficult to figure out, some speculate that it is because of increased costs and the idea that certain stores profited from price increases since the pandemic. Others believe that it is due to the rapid growth of self-service checkouts, which can make stealing more tempting. Another potential cause is a change in attitude that has happened in recent years, leaving members of the public with less respect for retail stores and workers.

However, one of the biggest reasons criminals target retail stores is because the chances of them being caught and convicted are incredibly low. Emmeline Taylor, professor of criminology at City, University of London, told the New York Times that “overwhelmingly, the police do not respond [to retail crime] and have allowed this to escalate to the point where, I would say, theft has been decriminalized.”

This point is backed up by Matt Hood, the managing director of Co-op Food, who said police officers currently attend to just two in 10 thefts.

Since law enforcement officials tend to not respond to retail theft incidents, retailers need to take steps to protect themselves.

Stopping Retail Theft

In general, CCTV alone is not sufficient to stop retail thieves. They know they can hide their faces with masks or hoods, making it tough to identify them. Even in situations where they can be clearly identified on camera, the time and resources required to find them and hold them responsible for their crimes is often greater than law enforcement is able to spend. Therefore, all security camera footage tends to do is provide evidence of a crime that can be used for insurance purposes. It alone doesn’t deter criminals.

What does deter criminals and stop retail theft is physical security guards. When criminals see a security guard at a retail store, they know that their chances of getting away with a crime are significantly lower. In many cases, just the presence of a guard is enough to stop the criminal and cause them to move on to another target.

Trained guards also have conflict resolution and customer service skills, experience with risk assessment, and are trained in loss prevention techniques and emergency response strategies. This means that if a criminal tries anything, the guard will act to diffuse the situation right away. An experienced guard can even spot potentially suspicious behaviour and respond to it right away, deterring the criminal before they strike. Choosing the right retail security company in London, retail security company Birmingham, or retail security services in any part of the country is important. You want to work with someone who is responsible, experienced, and can protect your business. You can trust our specially trained guards to keep your retail store secure, prevent financial losses, protect your staff, and uphold your store’s reputation. 

For more information on How Retail Security Saves Businesses talk to Professional Alert Security Ltd