Retail crime has surged dramatically, with the British Retail Consortium (BRC) reporting a 25% increase from 2023 to 2024. Customer theft alone is costing the industry £2.2 billion, while violence and abuse against staff have risen by 50%.
In response to these escalating challenges, Volumatic, a leader in cash handling solutions, offers five key pieces of advice to help retailers protect their businesses, employees, and profits.
First, ensuring that cash handling procedures are clear and well-documented is essential. “Clear procedures are key to identifying issues early and ensuring staff are accountable. This helps prevent both internal and external theft,” explains Mike Severs, Sales & Marketing Director at Volumatic. By documenting procedures, retailers can quickly identify discrepancies, reduce errors, and hold staff accountable, which in turn prevents both internal and external theft.
Next, when it comes to cash storage solutions, Severs emphasises the value of investing in secure, efficient systems like Volumatic’s CounterCache intelligent (CCi) solution. “Our CCi system reduces the opportunity for theft by limiting staff interaction with cash. The tamper-evident technology and real-time reporting ensure the process is both secure and efficient,” Severs notes. This solution provides seamless handling from the point of sale to the bank, minimising errors and fraud.
Another important strategy is reducing internal theft by choosing trustworthy employees and providing regular supervision. “While it’s impossible to eliminate risk entirely, limiting access to cash and ensuring staff accountability makes it easier to identify issues and prevent theft,” he says. The CCi system also allows retailers to track which staff member is handling cash through its ‘Operator Accountability’ feature.
Enhanced security measures, such as installing CCTV, are another critical tool for protecting against theft and identifying incidents. “CCTV serves as both a deterrent and a vital tool for law enforcement in prosecuting offenders,” Severs explains. Proper placement at entrances and near cash registers ensures maximum effectiveness, with high-resolution, night-vision cameras offering the best quality.
Finally, Severs stresses the importance of cultivating a positive company culture. “Creating a responsible, accountable culture across your workforce can make a significant difference in preventing theft,” he says. Engaging employees in a store’s security policies and encouraging open dialogue about safety helps establish a shared responsibility for protecting the business.
With the financial toll of retail crime rising, currently estimated at £4.2 billion annually, Volumatic urges retailers to consider the cost-benefit of investing in robust security measures. “Retailers need to ask themselves: can I afford not to protect my store?” Severs concludes.
For more information on Volumatic’s solutions, visit www.volumatic.com
