Solaren News
Tis the Season for Retail Security
With more people out shopping there will be more people out with an intent on theft and that’s where Solaren’s Retail Security comes in.
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Nov. 18, 2023 | by: Solaren Risk Management
With more people out shopping there will be more people out with an intent on theft and that’s where Solaren’s Retail Security comes in.
Despite the setback of the pandemic in 2020, holiday shopping at physical stores is still popular especially on Thanksgiving weekend. According to the National Retail Federation, this holiday season is expected to be very profitable for the economy. However, with more people out shopping there will be more people out intent on theft and that’s where Solaren Risk Management comes in.
According to the NRF, last year saw an immense spike in shoppers over Thanksgiving weekend from 179.8 million consumers in 2021 to 196.7 million in 2022 with more expected this season. According to a survey, 41% planned on starting shopping in October or earlier while 39% planned on November. Many online and physical location retailers have started earlier holiday sales because of this data, so we can expect this to be a busy season for retail. Along with busier sales and more locations providing incentives to shop, there will be more opportunities for shoplifting and organized theft that need a response from security.
The year of the pandemic obviously saw a drastic increase in online sales, but the drain on income that year caused a slowdown in sales the following year.
However, sales rose 5.4% in 2022 due to a buildup in savings that helped stave off rising inflation. NRF Chief Economist Jack Kleinhenz argues that the average household’s savings were not completely drained by the pandemic like previously suggested and will continue to help support spending this holiday season. The increase will most likely not be major, but there will be an increase in sales from last year that will help to promote this desire to go out and shop this upcoming Thanksgiving weekend.
Shoplifting accounts for 21.3% of all larceny-theft cases in the United States over the past five years.
The average loss per incident as of 2022 was approximately $514.71 with 56% of small businesses suffering losses from shoplifting. What does this mean for the security industry? Well, more retail business both online and at physical locations means more opportunities for cybertheft and property theft. Solaren Risk Management has extensive experience in securing retail environments both large and small scale as we have covered entire mall outlets to individual stores with off-duty and retired law enforcement officers and professionally trained unarmed security. We are prepared to step up to the plate this holiday season to put our best foot forward in defending your property and people as we all try to enjoy the season of giving and gratitude.
Do you want the best the security industry has to offer?
Reach out today at www.solarenrm.com/quote/ to get in touch with us! We’ll be sure to have a customizable plan made just the way you need it.
“We are safety aware because we care”
Sources:
- Grgich, L. (2023, October 5). 2023 holiday shopping outlook. NRF. https://nrf.com/blog/2023-holiday-shopping-outlook.
- Osborn, J. (2023, October 18). 57 Retail Theft Statistics & Trends You Need to know in… DealAid. http://www.dealaid.org/data/retail-crime/.
- Shearman, J. C. (2023, November 8). NRF economist says 2023 holiday sales will have a “whole new set of dynamics.” NRF. https://nrf.com/media-center/press-releases/nrf-economist-says-2023-holiday-sales-will-have-whole-new-set-dynamics.
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Solaren Risk Management was founded in early 2017 by two friends, Jack K. Byrd III and Curtis E. Dodson. We have proudly delivered unarmed and armed security services, off-duty police services, and investigation services for commercial and government clients. Our presence ensures the security of people, properties, and assets. Our Officers share an unwavering commitment to safeguard every post under our watch.
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