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Shoplifting theft has risen in recent years, and shoplifters are cumulatively responsible for roughly 36.5% of revenue loss for small businesses. Luckily, small businesses like yours can deter shoplifters by installing security systems and taking preventative measures like investing in an IMA Select business insurance policy. A business insurance policy can safeguard your business in instances of theft and make you feel more comfortable in your store.
1. Install Security Systems
The best way to decrease shoplifting in your small business is to install security systems such as cameras, alarms, and tags. Alarms alert you immediately so you can apprehend the shoplifter, while security cameras are an immediate deterrent for thieves who fear getting caught by the film. Installing security cameras is a smart option for small business owners who have trouble catching shoplifters in the act. You may install several cameras throughout your store and rewatch recorded footage later using security cameras.
2. Always Identify Stolen Items
If you want to decrease the petty crime rate in your store, you must evaluate what items are being stolen and why. Noticing patterns in stolen items can help you understand why these items are being targeted and even give you an idea of who might be stealing them.
Taking that information into consideration helps IMA Select representatives provide you with the best coverage for your store. Not all policies are the same. Look for a policy that suits your needs, especially if you are experiencing theft.
3. Invest in a Supportive Insurance Plan
Putting expensive items behind protective barriers helps reduce risk, but also make the shopping experience more difficult for customers. Investing in a reliable business insurance policy will give you a plan for before, during, and after a theft.
Whether you catch the shoplifter face-to-face or on security footage later, having coverage from an IMA Select insurance policy is the best way to safeguard your workplace
4. Identify a Shoplifter
If you believe someone is trying to steal from your store, keep a close eye on them. Usually, there are advanced warnings when someone is considering stealing. However, some shoplifters train themselves to blend in with the crowd, so you must look closely for key details.
Common signs of shoplifting include nervousness, darting eyes, and a full bag or pockets. If you speak with them after catching them shoplifting, they might have trouble answering you or keeping a clear story.
To deter a thief from stealing, linger closely and ask them questions. Knowing that you are nearby will make them uneasy. The risk associated with shoplifting is likely to keep them from doing it.
5. Follow Store Procedures
If you catch someone shoplifting, follow existing procedures. Store owners who create their own rules should practice them each time.
Loud alarms draw attention to the shoplifter when they try to break into locked containers, remove tags, or steal tagged items. After you’re alerted of a security breach, you must mitigate the problem with a security officer to apprehend the shoplifter.
6. File An Insurance Claim
Always file insurance claims with IMA Select after someone commits theft in your small business to receive coverage for stolen items. After a theft occurs, carry out your security mitigation procedure exactly as planned.
Contact an IMA Select representative if you have any questions about getting insurance for your small business.
Have questions? Want to know more?
Reach out! At IMA, we’re here to help safeguard your future!