Retail Crime
If you’re a retail trader, we don’t need to tell you that stock loss soaks up profit in Australian retail stores.
In August 2023 the Australian Financial Review reported that ASX-listed Coles Group had flagged that stock loss was up 20 per cent in fiscal 2023. This was due to higher rates of theft across its 850 stores. Read more about how the retail shoplifting epidemic is playing out, here: Australian Financial Review.
Small retailers are also suffering, as the cost of living crunch drives more people to consider criminal activity. Major organised crime rings are finding a ready market for pilfered goods, with people whose ethics are questionable. A further problem for retailers is the fact that some shoplifters resort to violence when challenged by retail or loss prevention staff
Sadly, most retailers will encounter some form of crime. The Australian Retailers Association has some good tips on how to use security technology in their Retail Theft and Crime Series.
Among those tips are mentions of how to use CCTV effectively, and the importance of having your security systems checked and maintained.
But it goes a little deeper than that, the capabilities of your system are often not realised, mainly because of expedience at the time it was first installed. Systems integration doesn’t need to be complicated, and it’s something we do well.
We provide detailed proposals and documentation for our work and a high level of customer service.
