InsideOutdoor | SUMMER 2022 14 While crime sprees such as this can be difficult to prevent, Martin recommends removing any of your higher-ticketed items from prominent display, whether physically outside or viewable through your storefront window – especially at night. Placing this inventory toward the back of the store – potentially even behind an additional, dedicated lock and key system – can help to dissuade criminals before they even strike. “The bikes may be out front during the day, and maybe they’re chained or maybe they’re not,” noted Martin. “A lot of shops want to put the fanciest bike in the front window. And so we see a lot of smash and grabs there. We’re trying to get them to move those bikes to the back, at least at night.” Sound Tech Investment Despite the costly nature of modern physical security technology, OSI and others believe it can leave your merchandise far better off, long term. Whether you’re employing an intricate RFID/sensor system, networked alarms or the tried-and-true security camera, the key is to catch (and, ideally, help identify) criminals in the act. In many cases, physical security measures may even make thieves second-guess their efforts and walk away in favor of an easier target. Conscientious Store Layouts For today’s retailer, organization can be your best friend. By keeping your merchandise clearly labeled and tucked away in neat, clear aisles, you can theoretically keep your goods safer. Businesses gain an end-to-end view over their physical store. This allows them to keep a better lookout for suspicious behavior, monitor inventory, assist legitimate customers and dissuade potential criminal acts. OSI also recommends prominent security signage – warning visitors that they are being watched – and mirrors to eliminate blind spots and increase your overall store view. Consider What’s Irreplaceable Sure – many of these practices can help prevent shrinkage. What happens, though, when your highcost merchandise is stolen? Is it replaceable, or have recent supply chain snafus rendered that loss far more permanent? “In a normal circumstance, you have a theft claim. You order up whatever was stolen from your suppliers and then it’s back in your inventory to sell,” said Martin. “Now, you simply just can’t get a replacement from the suppliers. That’s loss of revenue.” In other words, consider the availability of new inventory for order when prioritizing what you protect and how you secure it. Employ Risk Management Above all else, OSI suggests a proactive risk-management approach that seeks to answer: Where is there opportunity for theft? How can I rectify that? “It’s about not having too much parked out front, having enough staff and being able to see all four corners of the store,” continued Martin. “We’ve had people, for example, get on bikes and ride right out the front door. Obviously, we don’t want employees chasing people down and getting into altercations and getting hurt. That’s even worse. “It’s really,” he continued, “Just about putting on that risk-management cap.” Insurance for ‘Peace of Mind’ Although not preventative, the policies offered by carriers such as Outdoor Sports Insurance offer a degree of comfort in the face of overwhelming threat. “We’re able to put, for example, bike shops that do rentals and demos on a business owners’ policy, which is the least expensive and most comprehensive way to cover a small business,” said Martin, “versus the alternative where people get a separate liability policy, [which] gets really expensive.” Sure, your rates can theoretically go up with frequent claims, but that is exactly why so many of these other considerations factor in. And in an ideal world, a sound insurance policy – combined with some of the aforementioned practices – can make all of the difference. Sometimes, the simplest answers are the best ones. Sound, commonsense habits such as pulling outside inventory indoors (and out of sight), taking care to lock your exits, employing a networked alarm system and potentially even a metal window gate can go a long way. “I think it’s just getting these shop owners and managers to think, ‘I’m locking up for the night. Is this place secure’?” noted Martin. “Is there opportunity for theft?” Because if there is, the opportunistic criminal may be lurking nearby. m Percent who reported the COVID-19 pandemic resulted in an increase on fraud, crime and overall risk on their company Source: National Retail Federation “2021 Retail Security Survey” Source: McKinsey & Co. Overall Workplace violence Organized retail crime Shoplifting Employee theft Cargo theft Slight increase Significant increase YOY C nversion Rate by week: Nov - Feb Source: Quantum Metric NOV 7 0 2.5 5 7.5 10 NOV 14 NOV 21 NOV 28 DEC 5 DEC 12 DEC 19 DEC 26 Week f JAN 2 JAN 9 JAN 16 JAN 23 JAN 30 FEB 6 FEB 13 FEB 20 2020-21 2021-22 Conversion rate (%) TrafficVolumes by Device: Nov 2021 - Feb 2022 Source: Quantum Metric Mobile Desktop 0 200 400 600 NOV DEC JAN FEB 150% 50% Traffic volume (millions) 48.6% 20.8% 33.3% 34.7% 33.3% 33.3% 13.9% 69.4% Total 27.8% 61.1% 22.2% 56.9% 16.7% 50.0% 11.1% 44.4% 6.9% 20.8% Buyer’s Side
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