As time creeps closer to the holiday season, you must prepare for the insanity of Black Friday, Cyber Monday, Christmas shopping, and boxing day. By this point, you probably considered your holiday strategy but there is still so much to prepare for. You got promotions, inventory, marketing, shipping, and the list gets longer. Everything must be wholesome and works together in harmony. Nevertheless, one thing that businesses often overlook is their security.
Theft is becoming an increasing problem in South-Western Ontario with London Ontario holding the lead in Theft Under $5000 in 2019 (11,158 recorded incidents).
Although theft happens everyday, but businesses feel its impact the most during the holiday season. In general, the hospitality industry is packed with social events, gatherings and parties during the holidays seasons which means skyrocketing foot traffic and sales. But this does not mean your shrink should go up too. Here are our top 4 tips to help your business navigate the holiday season with minimal shrink:
Keeping track of your extra merchandise on hand can be a delicate task to accomplish during the holiday season, but it is important to know where everything is. Make it a common practice to either lock the expensive and easy to steal merchandise or keep it within sight. You should also inform your newer staff members of your high-theft items so they can keep a close eye on your high-ticket items. If you hire loss prevention investigators or uniformed security, you should make them aware of your valuable merchandise. There are also other things you can take into consideration such as more visible CCTV cameras, locked shelving, or ceiling mirrors.
Staffing is one of the most important aspects during the holiday season. It is important to fill your staff's schedule not just to ensure top-notch customer service, but also to deter theft. Even if it means hiring additional temporary staff members for the holiday season, it is one of the most effective methods and it cannot be said enough; customer service is your one of the most powerful tool a retailer can utilize to mitigate theft. To add to the benefits of having extra staff, their efforts can also be allocated to help you keeping track of your inventory.
This is a great time to revise your emergency preparedness plans with your staff and security personnel. The higher foot traffic can be catastrophic in the event of fire, robbery, or an active shooter scenario. Check your emergency exits and make sure the path is clear. It is also a good idea to double check with your staff and security to ensure that they know what to do in the event of a robbery.
Of course, there is a tremendous number of things to take into consideration during the holiday season. It can seem overwhelming, but if you must start somewhere, then start with revising your plan. Thinking of these safety measures while keeping security in mind is a great way to start your holiday season. Whether you are planning on hosting a special holiday event or running the store, we are here to help you audit your current plan and make recommendations.