Think about prevention. “One step every retailer can take is to invest in loss detection,” says Matthew Guiste, global retail technology strategist at Zebra Technologies. “This allows retailers to take low-risk and high-value steps to stem the losses, often before they happen.” With RFID and prescriptive analytics, retailers can “have a better chance of triggering actions to re-stock those items,” he says.
Use all the tools at your disposal. Eliminating silos is essential to achieving an integrated strategy. “All of these security tactics should be used in concert,” Juros says. Adjust security protocols as needed. Once the threats change, “you will need to adapt and pivot,” Stark says.
Embrace the human element. “In order for retailers to boost their security IQ, they must factor the human element into their strategy,” Stark says. After all, only a human can make tactical decisions and determine whether there’s a wide enough variety in their security suite.
Keeping a Perpetual Security Mindset
As the technology grows more sophisticated, it can be tempting to trust it entirely. But in reality, “people, processes and technology are at the heart of any security IQ operation,” Scanlan says. Automation, for example, is helping retailers “move from a reactive, human-based process to proactive detection of losses,” but AI, video, sensors and IoT still need regular monitoring and testing. The more interconnected the tools, the stronger those connection points need to be.
“There is no single silver bullet, but a holistic plan that includes cybersecurity and physical security is key to keeping retail secure,” Scanlan says.
