Keeping safe

Shrinkage is an ongoing problem faced by many fashion retailers. Tracey Porter spoke to two retail security firms to find out their views on how the sector is combating the problem.

What is the biggest mistake fashion businesses make in regards to selecting the correct retail security option?
Vitag managing director Greg Raubenheimer
Retailers with rudimentary knowledge of security make poor decisions that are largely driven by price. When not armed with the information necessary to make the right choice for their unique retail environment, the result often leads to a defeated and unfeasible system. Our best advice would be to do your research and make a truly informed decision.

ADT national retail manager Phil Brown
A lack of strategic thinking and making a purchase dependent on price are the two most common mistakes made by fashion retailers. While investing in loss prevention technologies might seem like a substantial expense, retailers need to consider the longer term return on investment that partnering with a retail security expert can deliver.

What role should retail security play in ensuring the commercial success of fashion brands?
Vitag managing director Greg Raubenheimer
Though national averages are between 1.5 and 2.5 per cent, some high brand stores are experiencing up to 5 per cent shrinkage, so the role of retail security is vital in reducing losses, increasing profits and ensuring a high return on investment. Retailers with an effective loss prevention strategy can confidently merchandise high-worth apparel and accessories that openly displays product and is accessible to the purchaser.

ADT national retail manager Phil Brown
In terms of aesthetics security solutions need to be vigilant but unobtrusive. This is particularly important in the fashion industry where presentation is so important. It's also essential that security measures don't detract from the customer's experience - they want to touch and feel the product as well as try it no before purchasing.

What is the most significant trend likely to affect retail security providers over the next 12 months?
Vitag managing director Greg Raubenheimer
As more professional shoplifting information and techniques are becoming readily available to the criminal community through the internet, so too do retailers need to tighten their store's protection processes more aggressively. Multiple levels of merchandise protection, such as high technology four-alarming tags are being integrated with other loss prevention measures like foil-lined bad detection systems and CCTV.

ADT national retail manager Phil Brown
Loss prevention is becoming an ever increasing priority for retailers. In particular the focus is on reducing internal theft where employees steal merchandise and money or provide sweetheart deals for their friends and family. In fact statistics illustrate that in times of economic downturns, internal theft increases.

To combat losses, retailers need to address every stage of their shrink cycle, from shoplifting to employee theft, and identify processes that will help them keep tighter control of their operations. As such over the next 12 months we anticipate more retailers will look towards security providers for a total security package rather than stand alone products. Afterall, a CCTV camera recording video footage in the same location every day that no personnel will ever monitor will not go far towards deterring theft.

By Tracey Porter