When you hear a dollar figure like $42 billion in retail theft last year in the U.S., it makes you stop. It’s one of those numbers that hits home and tells you: This is one of the major reasons the security industry provides a powerful function to not just homeowners, but to many small businesses across the country.
Outside the U.S., shrink was tagged at $128 billion globally in 2013, according to the latest Global Retail Theft Barometer (conducted by the research firm The Smart Cube and Ernie Deyle, a retail loss prevention analyst). The annual cost of shrink to U.S. shoppers (when these costs are passed on from the retailer to each of us as consumers) averaged $403 per household. Those are astounding numbers. Take a moment to think about them.
These figures buttress the importance of what the security industry does for our customers: By preventing retail theft, we protect the bottom line of businesses, and the consumers they serve.
We encourage you to talk about the value in operating alarm systems effectively when selling security products and services to retailers. Beyond proper installation and high standard equipment, make sure employees understand how to arm and disarm a system. That helps keep down the number of nuisance alarms.
Retail theft is a reality. Let’s make nuisance alarms less of a reality by taking the extra steps to implement the highest quality alarm management programs in retail businesses.