Part two of a series on retail cabinets explores how retail storage cabinets help with asset control and loss prevention. Be sure to read part one of this series as well.
Retail Cabinetry: Loss Prevention
In an ideal world, no one would ever steal, and retail cabinets would only be used for storage. However, that isn’t the world that we are a part of. There are several facts about shoplifting. For one thing, more than $13 billion is stolen annually just in the US. That’s more than $35 million per day. Shoplifting automatically makes the prices of a store go up as they have to recoup some of their losses due to theft. Shoplifting has a ripple effect. It overburdens the police and the courts, and causes loss of sales tax revenue for a community. In short, shoplifting is not a victimless crime.
There are several fixes for shoplifting, but a retailer has to balance security with comfort for shoppers. Having a sales associate follow customers around with not so discrete attempts to see if they’re slipping something into a purse or pocket may catch some shoplifters, but it will also irritate legitimate customers. Too much of this sort of surveillance will cause customers to leave the store in droves. The shoplifting problem will be solved, but as a result the store can ultimately close down. CCTV can help with some loss prevention as can alarming some big ticket items, but one of the best ways is to do asset control by placing only a few items out and locking the rest of the items in a retail storage cabinet.
Retail Storage Cabinets and Loss Prevention
Retail cabinets can help with loss prevention, however, don’t think that they’ll stop all shoplifters. If a shoplifter is determined and brazen enough, they will steal. It’s also good to know that a store’s location is not necessarily a bar to shoplifting. Several stores at Scottsdale Fashion Square, for example, were targeted by a gang of shoplifters that made off with over $8,000 in merchandise in 2012, and Scottsdale Fashion Square is an affluent mall in a very high dollar area of the Valley. Even expensive plazas like Kierland Commons have had shoplifters as well.
Retail is one of the more competitive branches of the economy, and there is only a finite amount of consumers to buy products. We can’t help you with sales promotions, nor can we tell you how to price your items in response to your competitors. However, we can help in another way. We can install retail storage cabinets for your shop.
Triton Garage Cabinets & Storage Systems
4111 W. Clarendon Ave.
Phoenix, AZ. 85019