How Security Guards Can Maximize Loss Prevention in Retail Businesses
Feb 14, 2021
If you own or manage a retail business, your priority is to prevent loss. Hiring a security guard to offer security patrol services within and around the retail building’s perimeter is one way to maximize loss prevention.
Here are a few ways security guards can prevent loss, theft, and other similar crimes in a retail environment.
Different Types of Retail Shrinkage
In a retail store, one common cause of shrinkage is return fraud. Many customers buy items from a retail shop only to return them with fake receipts. Retail fraud can also occur if the customer is returning used or stolen merchandise to a store or is there returning bought items using fake money.
Another everyday criminal activity that occurs in retail is shoplifting. Although modern technology such as cameras can assist with security monitoring, people still find ways to shoplift, such as hiding store items in their bags or under their clothes.
Whether it’s individual shoplifting or a group of people working together, the retail store can suffer a massive loss due to the cost of stolen items, which can vary between $5 to $500 or more. If shoplifters identify the retail store as an easy target, they could strike multiple times and cause heavy loss to the store.
A lack of security in a retail environment can also result in employee theft. Employee theft can occur if a detail worker is consistently stealing small amounts of money from the cash drawer or involved in merchandise theft. They might also be processing fake returns from customers to issue them gift cards. Employee theft can also occur unintentionally if an employee is negligent and forget to scan purchased items, leading to a considerable loss for the retail store.
Lastly, retail shops can also suffer from shrinkage due to inaccurate inventory administration. While this is accidental, it contributes to extensive losses if items are labeled with incorrect prices or a lack of oversight on ordering stock items.
Security Guards Help Prevent Losses
Hiring a security guard is an effective way for retail stores to combat shrinkage. A security officer is trained to monitor the store and observe all customers to identify potential shoplifters’ intent on stealing items from the shop.
A security guard for hire can also assist with employee theft by continually monitoring the store so that employees are on their guard and don’t attempt to steal from the store. A security guard’s presence is intimidating and ensures that both customers and employees are aware that they’re being watched, thereby reducing criminal activities.
Combat shrinkage in your retail shop by hiring insured and licensed security guards from Guard Services USA. We’ve been in the security business for over 25 years, and we provide trained security officers who are both armed and unarmed. We also have off duty police officers, law enforcement officers, and security guards who can check temperatures, ensure people are wearing masks, and maintain social distancing.
As one of the top security guard companies in the USA, we provide security services to a range of industries, including malls and retail shops, schools and universities, banks and financial institutions, special events, residential and commercial buildings, etc. You can view our client testimonials here. Contact us today at Inquiry@GuardServicesUSA.com and benefit from our security patrol services to prevent loss and shrinkage in your retail shop.