Shrink From Theft Significantly Impacts Small-To Medium-Sized Retailers

Frank Costa, President Nexgen Protection Services – 

SMB retailers operate on narrow profit margins, they typically don’t have the budget or resources to invest in the training, security systems, and personnel to combat theft like larger retailers do. Offenders might also be more familiar with SMB retailers’ store layouts and know they lack specific security measures. If smaller stores with weaker security are located near larger stores with more robust protection, there might be an issue of displacement in which offenders pass by the big box shop for the mom-and-pop.

A low cost solution to theft prevention for SMB retailers is partnerships. Many law enforcement organizations have community policing units, where officers are specially trained to interact with local businesses and citizens to help them solve problems. SMB retailers can connect with this unit or a liaison and invite them to the store to dispense free crime prevention advice.

 

SOURCE: 

Fritsky, L. For Small- to Medium-Sized Business Retailers, Thwarting Theft Needn’t Come with High Effort or Costs, Loss Prevention Magazine, 10/09/2024.
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