If you operate a retail store, you’ll agree that physical and online threats to your business are growing more and more sophisticated.
Protecting yourself is a year-round job and, if you didn’t get it right in 2022, you’ll get all the information you need to do it better in 2023 right in this post,.
These are the top must-haves that every retail business needs to have to be safe, and secure and meet their customers’ needs while staying profitable.
An In-store Security System
Even though the majority of business is expected to move online by 2049, right now, brick-and-mortar stores are still a valuable part of the retail industry. To stay competitive, they need to implement new security measures.
They are still vulnerable to shoplifting threats, both external and internal. In 2017, retail businesses lost 46.8 billion dollars in 2017 due to inventory shrinkage. In 2023, make sure you equip your store with loss prevention systems.
This would include a remote camera system to keep an eye on both your staff and customers. Alarm systems to detect intrusion are also necessary. Alarms that alert you when staff members try to access restricted areas are also important.
Onsite video monitoring should include analytics and facial recognition software. This way you can identify people who have shoplifted from your store before as well as recognize your inventory if it is on the move around the store.
RFID tags for merchandise will alert you whenever someone attempts to move inventory to your store’s exit without paying for it.
Exception-based reporting technology will help you see deviations in your store’s inventory and revenues, help you pinpoint where things might be wrong, and allow you to stop whatever it is.
By implementing these security measures, retailers can protect their customers and their bottom line.
Cyber Security Protection
We’ve already mentioned how important online commerce will become. This is why it’s important to pay attention to your level of cyber security.
Theft of customer data, ransomware threats, and phishing will continue to be the top retail cyber threats for 2023.
Implement cyber security protocols that will protect your customers. The first is to separate your public and private Wifi network so that outsiders can’t access your company’s information through your network.
The second is to install antivirus software, firewalls, and a VPN to prevent hackers from accessing and hijacking your network.
Cybersecurity insurance is also a sensible investment. Data breaches cost retailers millions every year. Having insurance helps you cover any liability you may face.
Another good idea is training your staff to help you guard against cyber threats. Employees need to understand the role they play in compromising a business’ security, including opening suspicious links on the company’s network, or not securing the company’s data correctly if they work remotely for example.
Another good security move you can make is getting cloud infrastructure to back up your data, support and enhance your operations, as well as increase your business’ security.
Some potential uses for cloud infrastructure include better customer data management and increased capacity to analyze and make better use of your data.
Staff training
We’ve mentioned cyber security training for staff, but you also need to train staff that are on the shop floor to assist with protecting your inventory.
Train them to spot likely shoplifters as they will be able to see things the cameras may not pick up.
Combined, physical and cyber crimes stand to take a significant bite out of your profits. Guard against this by ensuring you have the latest security measures protecting your business.
Talk to us for the latest commercial and retail security solutions. Visit our website or call us at 1 305 692 0234.
