The retail industry has continued to grow and adapt to numerous changes over the years. So, it makes sense that product protection should evolve and adapt to those changes too. In the early days of the retail industry, store security’s main focus was preventing theft from shoplifters. Then loss prevention evolved from security as a solution and offered more proactive options to preventing theft.
Understanding the difference between loss prevention vs. security and what security measures are needed to prevent theft is vital to your success.
Loss Prevention vs. Security – What You Should Know
While both security and loss prevention tactics help combat theft within the store, they have significant differences.
Differences Between Loss Prevention and Security
Loss Prevention – The main focus is to preserve profit by minimizing preventable losses from shoplifting (internal and external), shrinkage, and administrative errors.
Security – The primary focus is on watching shoppers and identifying potential shoplifting signs while ensuring public safety.
Loss Prevention – Protects products through physical products (safers, tags, alarm series), EAS security systems and takes advantage of the latest technology (an app that tracks high theft products).
Security – Protects products from shoplifting by having a retail security officer observing the store for suspicious activity and maintaining a safe environment for customers and employees.
Loss Prevention – Assists with inventory management by monitoring shipments, returns, and annual inventory, then recording potential losses from damage, theft, or vendor fraud.
Security – A retail security officer can monitor high theft products while monitoring the store.
Loss Prevention – Create and implement training with employees to teach them how to spot a shoplifter, check for return fraud, and place security products on merchandise.
Security – Secure the store’s location by patrolling the store (narrow aisles, fitting rooms, washrooms), checking alarm equipment, monitoring merchandise and customers, and permitting store entry when needed.
Loss Prevention – Embraces technology through AM, RF, and RFID-enabled products, utilizing apps to protect merchandise better, and point of sale systems maintain accurate inventories.
Security – Uses video surveillance to monitor store activity and search for suspects while communicating with other security personnel on store security.
How Loss Prevention Reduces Your Retail Shrinkage
After learning more about loss prevention vs. security, the most valuable advantage loss prevention offers is reducing retail shrinkage from theft, fraud, and errors. Here are several ways that loss prevention and retail asset protection companies, like Product Protection Solutions, help prevent loss and increase their profits!
- 360 Degree Protection – Provides solutions that protect the store’s exterior, entrance, exit, and product and aisle protection.
- Latest Technology – Assists you in finding and taking advantage of available technologies on the market.
- Benefit Denial Products – Provides you access to multiple loss prevention products to fit your specific needs, including:
- Customized Options – Work with you to create an option that fits your specific needs.
Protecting Your Business with The PPS Approach
Implementing solutions and education throughout your business will help protect it from thieves, fraud, and errors. It’ll help you enhance and grow your business for years to come!
The Product Protection Solutions (PPS) approach focuses on providing excellent, trustworthy loss prevention advice. Our team will work with you to develop a rapid, complete, and technologically advanced solution to meet your goals!
Contact the PPS online or by phone at 866-750-5744 to learn more.