Retail crime poses a significant threat to businesses across New Zealand with retail crime increasing by 39 per cent in 2022 compared to 2021. Crime by employees, outsiders and cybercrime can all affect your business. From shoplifting and fraud to vandalism and robberies, the repercussions of retail crime can be far-reaching. We explore the various ways in which retail crime affects local businesses in New Zealand and discuss the importance of addressing this issue with commercial security services to ensure the sustainability and growth of the retail sector.
Financial Losses
One of the most immediate and apparent impacts of retail crime is the financial losses incurred by local businesses. Shoplifting, fraudulent activities and robberies result in stolen merchandise, damaged property and lost revenue. These losses can have a severe impact on the profitability and viability of small and medium-sized businesses, which often operate on tight margins.
Employee Safety and Morale
Retail crime can have a detrimental effect on the safety and morale of employees. Employees may feel threatened, anxious or unsafe in their workplace, particularly in areas with a high incidence of crime that is well documented in the media. This can lead to increased turnover rates, decreased productivity and a negative work environment. Ensuring a safe and secure work environment is crucial for employee well-being and overall business success.
Reputation Damage
Instances of retail crime can tarnish the reputation of local businesses. Negative experiences, such as thefts or robberies, can deter customers from visiting stores, leading to a loss of trust and decreased foot traffic. Word-of-mouth plays a significant role in consumer decision-making, and a reputation for being an unsafe or crime-ridden area can have long-lasting consequences for local businesses.
Community Impact
The effects of retail crime extend beyond individual businesses; they can also impact the overall community. A rise in crime rates can create an atmosphere of fear and insecurity, deterring visitors and potential investors from engaging with the local economy. Communities, businesses and NZ law enforcement must collaborate and implement proactive measures to address and prevent retail crime, ensuring the well-being and prosperity of the community as a whole.
What Can Be Done?
To combat retail crime and protect their businesses, local retailers should invest in security measures and loss prevention strategies. This includes the installation of security alarms, commercial CCTV, access control, intercoms and 24/7 business monitoring. At ISS, our commercial security services provide New Zealand business owners with the tools to protect their property. Deter intruders, protect sensitive data, restrict entry and record evidence of your commercial buildings with our services. For extra security, allow our 24-hour, 7-day service to provide security for your commercial property day and night.
Retail crime presents numerous challenges for local businesses in New Zealand. Don’t let it affect yours. Contact Integrated Security Services today to find out more.