As the economy teeters on the edge of recession and the cost of living continues to rise as we approach the festive season, it has been understandably predicted that there will also be a rise in retail crime, with retailers set to lose £1 billion over the Christmas period, writes Richard Paterson, Business Development Manager at software company Hicom, quoting a recent report by Prof Joshua Bamfield of the Centre for Retail Research, quoted in the January print issue of Professional Security.
In light of this, retailers need be ever more vigilant with their security measures and ensure that they are allocating their crime prevention budgets wisely, investing in the most effective methods of crime prevention that will bring a swift return on investment.
In times of austerity, luxury goods such as clothing and fashion accessories, perfume, electronic devices (such as smart phones and tablet computers), watches, jewellery, chocolates and confectionery are among some of the products being targeted.
It is key that retailers understand their local situation and identify the items that are more likely to be theft targets in their area in order to determine how best to focus stretched security resources. Collaborating across the business community to gain insight into both spikes in crime and identify individuals, or gangs, involved is essential.
By reporting and sharing all incidents of crime, retailers can collaborate amongst themselves and with local police to identify persistent perpetrators. The information can provide insight into the habits of those offenders, which stores they target, what types of goods they target and when they commit offences.
Traditionally, retailers have turned to hardware security solutions in an attempt to break the shoplifting cycle and deter criminals using sophisticated CCTV and electronic tagging of high value items. But, in an industry that is already strapped for cash, these are expensive commodity items to roll out across an entire retail estate if the benefit of a significant ROI is not likely to come to fruition.
Crime containment in retail is not just about physical security, but also about good management practice. Specialist facilities and technology solutions are now available to make identifying, reporting and addressing areas of vulnerability quick and easy.
It is only by taking back control of stores and implementing effective, cost-efficient technology that retailers will win the shoplifting war this Christmas … not just the battle.
