When you think of a retail business, you probably don’t really think about what costs a business has to absorb because of retail security issues. Things such as customer theft, violence, and abuse against employees can add up to mammoth costs. It’s estimated that retail crime has a cost of around £660 million – which is a huge number. The stark reality of retail crime is clear and is one of the biggest challenges facing modern retailers/businesses today, according to security firm Secom. Do you know where most of those costs are offset? Prices go up for customers which affects us all across the spectrum. There are some things you can do to easily improve your retail security, which will lower your businesses loss and security expenses in the long run. Here are some small changes you can make in order to make a big difference in your business:

1. Surveillance Security
Cameras are an excellent option as just the visual presence of surveillance cameras can help deter criminals – after all who wants a photo of their face posted on the social media accounts of their local police station? No one! Image quality has come a long way in the past few years and surveillance systems can provide photos that can help you find people who have stolen from your business. Although the initial cost of setting up some cameras can be expensive, the peace of mind and ongoing savings will make sure it’s worth it!

2. Access Security
Implementing systems that limit accessibility can be a great way to limit product loss and increase security. This wont be a great option for a retail store, but for a business with stock this can work well. Things such as biometric entry can be a great option as it demonstrates who was in what building and when. Biometric technology is improving rapidly – now it’s possible to implement facial recognition systems.

3. Cyber Security
If you have an online aspect to your business, especially an e-commerce component, then it will be extremely important to protect your business against hacking. Sometimes people can hack into a website and steal the credit card details, the personal information of the clients or even some of the business data. This can be a disaster for your company as it will impact how secure customer’s feel using your service. If your online security is sabotaged it can be extremely expensive in terms of the opportunity cost due to a tarnished reputation.

Using these small changes you can make your business more secure, cut losses and provide you with priceless peace of mind.

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