Are Staff Stealing Spirits? Bottle Locks Improve Liquor Bottle Security
Liquor store owners and managers are aware of the risk to the business from shoplifting, but how aware are you of the threat to your business from your employees? Along with the obvious chance of cash theft, employees can also steal product from your business. It can be difficult to identify and prevent cash shortages, but how do you prevent internal merchandise theft? Were you aware that in retail as a whole, employee theft accounts for more theft and shortage than shoplifting? Preventative measures for liquor bottle security can protect the business against both shoplifting and employee theft. Using bottle locks and electronic article surveillance antennas can prevent a lot of merchandise theft. In fact, it appears from the 2014-2015 Global Retail Theft Report that there is a strong correlation between the amount of money invested by a retailer on Loss Prevention spending and the amount of shortage experienced. Shortage tended to decline when money was invested in various Loss Prevention systems, including security personnel, closed circuit television and retail anti-theft devices.
Since we are focusing on liquor store businesses, the use of bottle locks is a valuable means of protecting against theft. Liquor bottles come in many different shapes and sizes and Alpha Security makes locks that can fit almost every bottle design on the market. The locks are placed over the cap and depending on the type of lock used they cover much of the neck of the bottle as well. The lock prevents a thief from being able to open a bottle or pry the cap off. Bottle locks are designed to activate to an electronic article surveillance antenna if a bottle with a lock on it is carried in range of the antenna. The alarm alerts store staff of an attempted breach. Whether it is a shoplifter or an employee trying to steal, liquor bottle security will protect merchandise.
If you are a small business owner, here are some interesting statistics for you from the website statisticbrain.com (research date September 7th, 2015):
Employee Theft Statistics:
– Amount stolen annually from U.S. Businesses by employees $50,000,000,000
– Percent of annual revenues lost annually to theft or fraud 7%
– Percent of employees who have stolen at least once from their employer 75%- Percent of employees who have stolen at least twice from their employer 37.5%
– Percent of all business bankruptcies caused by employee theft 33%
Additionally, the report finds that the average time office fraud lasts before it is detected is two years. In my years of Loss Prevention experience, I found that the difficulty with employees was that frequently their theft started out in small amounts and often infrequently. It might be a dollar here or there from the register for a snack during break. It could be minor merchandise theft in the beginning, such as a candy bar from a checkout lane or a drink from a food service area. Over time employees tend to become bolder and test the store with theft that becomes more noticeable. Eventually the employee gets greedy and takes something substantial or more readily identified. For a small business owner of a liquor store, how long can you afford losses before employee theft puts you in the 33% declaring bankruptcy due to theft?
By installing EAS antennas at all store entrances and putting Alpha Security bottle locks on merchandise located both on the sales floor as well as the stock room you can quickly begin to deter liquor theft by employees. It is also important to ensure that owners and managers always staff the store, open to close with at least two employees as a check and balance. If one person is alone in the building, there is no one to be aware if bottles are removed through EAS antennas, setting off the alarm.
Make liquor bottle security a priority for your store. Find out about all of the bottle locks available to you from Alpha Security. Don’t let your employees send your business into bankruptcy.
Need information on liquor bottle security? Give us a call at 1.770.426.0547 now.