Retail Theft – The Hidden Costs

by Team101 Social on Aug 15, 2013 9:58:00 AM


Many retailers are aware of the cost of retail theft to their business financially. It is the hidden costs that they may not be aware of. We aim to teach retailers some ways to protect their business along with help authorities to crack down on retail theft and retail theft rings in this article.

The first step many retailers may know about is video surveillance. Video surveillance is not only good for the company’s internal security but the police and media can use the video footage or images to get leads on or capture the thieves. In Fayette County they have a high quality image that may help them capture one retail thief.

In St. Paul a new unit is targeting retail theft rings. Stopping the rings is important not only because of the monetary loss in dollars but also because of the secondary market these rings have produced. People are buying the stolen goods online or at mom and pop shops which can be a health hazard especially when dealing with items such as baby formula. Units such as this could be assisted with footage given from the original retailer and smaller stores that might not have known the goods were stolen. The small store could provide footage of the person trying to sell the stolen goods if requested from law enforcement and of course retailers can provide footage to law enforcement from the original theft.

The hidden costs could be health items that you may not normally consider. Health issues may arise from items not being stored at the proper temperatures. Small stores that sell these products may have some liability should an issue arise. In the end everyone is hurt because costs will rise to cover the stolen items which could lead to more thefts because people will no longer be able to afford these items. Stop the circle now by contacting Security 101 for a consultation on how to secure your business.

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