Top Threats to Retail Security and Technology Solutions
The Target of Bad Actors and Criminals
As a whole, retail is the largest private-sector employer in the U.S., annually contributing nearly $4 trillion to GDP and providing one out of every four jobs. Given its sheer size, it’s no surprise that it’s the target of bad actors and criminals.
The National Retail Federation (NRF) 2022 National Retail Security Survey reveals that retail shrink amounts to $94.5 billion in losses, primarily from external theft and organized retail crime (ORC). ORC is the fastest-growing area of risk, expanding by 26.5% from the previous year.
Beyond theft and shrinkage, retailers are also seeing concerning amounts of in-store violence and aggression from both ORC and guests targeting associates. The Centers for Disease Control and Prevention (CDC) says retail workers are one of the occupations with the highest risk for workplace violence.Â
Retail store security is a growing concern. The NRF survey of retailers showed that:
- 87% had experienced an increase in violence
- 73% saw an increase in shoplifting
- 71% saw increased organized retail crime
- 71% saw increased employee theft
We’re Trained to Monitor the Retail Industry
Retail Industry Monitoring
As retailers have expanded their sales channels and delivery channels, theft risks have increased as well as the industry has adapted to changing buyer behavior. Retailers now struggle to monitor in-store buyers, customers picking up curbside, store employees managing e-commerce orders and home delivery, and inventory control spread over multiple online marketplaces and sales channels.
Compounding the retail security threats are growing numbers of:
- Cybercrimes
- Gift card fraud
- Return fraud
- Internal theft
- Associate-on-associate violence
- Guest-on-associate violence
- Gun violence
Retailers are increasing their efforts to keep employees and guests safe. The NRF study showed that loss prevention budgets increased by more than 54% in 2021 in attempts to mitigate the growing trends. Retail security solutions rely heavily on technology, such as retail store security systems.
Prevent Theft and Unauthorized Access
What Is Retail Security?
Retail security includes the proactive measures undertaken by retailers to reduce theft and keep shoppers and associates safe from harm.
Retail security devices play a significant role in preventing theft and unauthorized access, as well as recording events to capture malicious activity and record evidence. A robust security system for retail stores requires a layered approach.
Best Security Cameras for Retail
Retail Store Security Cameras
When you think about retail security systems, it conjures up images of cameras, fuzzy images, and recorders — at least that’s what they always show in the movies. However, today’s generation of retail security camera technology has come a long way.
The best security cameras for retail stores are IP retail security cameras with digital video recorders or networked video recorders. Not only are images clear and crisp, but they can integrate with other retail store security systems to provide a more holistic approach. The best retail security camera system will include video analytics, motion detection, and alerts in real time.Â
Another thing they show in movies is crooks grabbing the tapes of security footage on their way out, destroying the videos of what they did. The best retail security cameras can store video off-premises or in the cloud to preserve evidence.
Security cameras for retail stores should monitor multiple areas, including exteriors, interiors, stock rooms, and point-of-sale (POS) or self-checkout areas. The NRF recommends security cameras for all cash registers, entrances, and exits and storing data for 90 days.
Retail Security Controlled Access
Controlled Access
Access control is crucial for businesses, especially when fighting organized retail crime. Retailers need to tightly control access to premises, including the building perimeter, stock rooms, offices, loading docks, warehouses, and all potential building entry points.
Key card access systems allow you to control access and track activity. This allows you to limit access for customers and employees in areas of your store while recording when employees enter or exit areas. Each employee is issued a key card or fob, allowing you to track individuals as they enter or exit secure areas.
Alerting Owners and Managers
Retail Security Alarms
Alarming key areas of your retail store can help prevent unwanted entry during store hours and after hours. Retail security sensors monitor areas, alerting when unauthorized entry occurs or motion is detected within stores after closing time.
Retail security alarms can alert owners and managers, notify police in the event of a break-in, and provide employees with a panic button for emergencies. Alarms can be attached to retail security gates or prevent unauthorized access to display cases to add retail display security.
Stores should also have business fire alarms, including smoke and heat detectors.
Retail Security Services
Advanced security measures can provide additional layers of protection, but it’s most important that you have the basics covered. This includes security cameras for retail stores, commercial security alarms and fire alarms, and controlled access. By making sure you have the right technology in place, you can mitigate many of the risks.
Stores should also have visible signage announcing your security measures and letting potential threat actors, customers, and employees know they are being monitored and recorded. While you don’t have to publicize every security measure you’re taking, the mere presence of retail security technology can make people think twice about their actions.
Alarm Detection Systems (ADS) is one of the largest providers of retail security services for businesses across Northern Illinois, Northwest Indiana, Southern Wisconsin, and all of Chicagoland. ADS also services Denver, Boulder County, Northern Colorado, the Eastern Plains, and Colorado Springs.
Fight back against theft, fraud, and retail security risks. Schedule a free consultation with ADS today.