How An Enterprise-Class Network Helps Protect Your Small Retail Business

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For those of you who do not think an Enterprise-Class Network with WiFi makes a difference, read on…

Holiday spending between November and December is projected to reach record levels for 2023. According to the National Retail Federation (NRF), we will see a 3-4% increase in spending over 2023 (That means nearly $1 Trillion in sales.) That’s great news for shop owners, but this good news unfortunately overlaps with something else that has reached record levels – retail theft.

In many ways, small retailers suffer the most from retail theft. They simply lack the resources to combat it in the ways that bigger brands can. And during the holidays, 54% of small businesses report an increase in shoplifting. As a result, everyone – regardless of business size – needs to be able to detect, deter, and mitigate the negative impact of this crime. As we are in the peak shopping season of the year, let’s look at the rise in retail theft along with ways Enterprise-Class network and technology can help protect your business. 

Impact on Small Businesses

Theft in all its forms – everything from individuals shoplifting and employee malfeasance to bigger organized “smash-and-grabs” – is brutalizing the retail industry. The NRF reports that stores have suffered $112.1 billion in losses in 2022. That number is going to be bigger in 2023. The national news covers stories on how crime has shut down commercial centers of cities such as Los Angeles and San Francisco.    

However, it would be a mistake to think that retail theft is a big city problem. Or a big business problem. “The effects of these criminal acts are not isolated to large national brands or large metropolitan cities,” states the NRF in its 2023 Retail Security Survey. “Daily media reports show that no business is immune, and these issues touch retailers of all segments, sizes, and locations across the United States.”  Though retail theft comes in many forms, one of the most insidious for small businesses is shoplifting. A 2021 survey of small businesses revealed:  

• 23% of small business owners experience shoplifting on a daily basis 

• 25% of small business owners experience shoplifting on a weekly basis 

As a result, small businesses try various tactics to battle theft:

• 45.3% reduced operating hours 

• 29.7% altered/reduced product selections 

• 28.1% closed a location (That’s more than 1 in 4!)

“Retailers are seeing unprecedented levels of theft coupled with rampant crime in their stores,” says David Johnston, Vice President of Asset Protection and Retail Operations for the National Retail Federation. “And the situation is only becoming more dire.”  Small businesses must do whatever they can to protect themselves.

Solutions

Technology is often the great equalizer. It can empower small businesses in many ways, from marketing opportunities to security. Not surprisingly, the NRF reports that 52% of businesses have increased their budgets this year toward technology and software as part of their security solution.   

How does the network help? To start, Enterprise-Class WiFi supports multiple networks, which in retail can be dedicated to point-of-sale (POS) systems, business operations (computers, printers, phones), employees, and guest WiFi for customers. This segmentation helps protect your business in multiple ways. Enterprise-Class WiFi supports the following solutions that help battle the rise in retail theft. 

Data Security

Even before we discuss protecting the physical store, it’s vital to protect sensitive customer and transaction data. Enterprise-Class networks possess advanced security protocols to safeguard this information from theft or hacking. Enterprise-Class Router Firewalls, for example, block websites, prioritize bandwidth, and set usage limits across the network. So whether working in the store or remotely, administrators get complete visibility into who is using the network and how it is being used. This protects the owner, employees, and customers at all times.  

Guest WiFi

As mentioned, one of the biggest benefits of Enterprise-Class WiFi is the ability to segment your network. This keeps your business operations – from financial transactions to online activity – separate and apart from your customers. Offering secure guest WiFi minimizes the risk of unauthorized access to your store’s systems. It can also provide insights as to which devices have access to your business critical/secure networks.

With Enterprise-Class WiFi you can also often get behavior analytics on your customers. This might mean tracking customer movement within the store, which can help identify suspicious activity. Or, with something like Meraki Go’s Guest Insights, you can discover your business’ busiest times though the day and week which allows you to adjust your staffing and security accordingly. 

 

Mobile Point-Of-Sale (mPOS) Systems

One of the recommendations from experts is to locate your cash register/point-of-sale near the front door so that criminals have a harder time leaving the store undetected.

In addition, experts go even further by recommending mobile point-of-sale (mPOS) systems. By using Enterprise-Class WiFi to enable mPOS, you allow staff to complete transactions anywhere in the store. This keeps your employees moving through the space and their eyes on all customer activity.  

Security Cameras  

Security cameras and surveillance used to be out of reach for small businesses, but now there are many affordable options to consider. Cameras – and advertising their use to customers throughout a store – can help deter theft.   

Furthermore, you can record all the activity in your business to provide evidence if needed. Enterprise-Class networks can reliably and predictably support high-definition video streaming, which ensures that surveillance footage is available, clear, and makes it more possible to identify suspects.  

Enterprise-Class WiFi also allows retailers to install security cameras almost anywhere and monitor them remotely. Store owners and designated employees can access live video feeds and recordings virtually any time and from any place, which can improve the response time to any crime. 

Sensors and Alarms  

Enterprise-Class networks also support sensors, which can give you greater control over your business. The variety of these devices continues to grow; there is currently everything from motion sensors to glass breakage sensors available for small businesses. Door censors can help ensure that some spaces are for authorized personnel only.   

In the event of unauthorized entry or suspicious activity, Enterprise-Class WiFi can also support alarm systems, which provide real-time alerts to employees and security services. There are also even wireless panic buttons that allow for a rapid response to theft. 

Your CIO - As Good as it Gets

As you can see, an Enterprise-Class network empowers so many aspects of security for retailers today. Your CIO is your partner in that security for your small retail business. Our solutions easily support hundreds of connected devices, which can include everything from mPOS/POS devices to security cameras. We can even offer you our routers and firewalls that offer both client and store-to-store or office-to-store network connectivity via VPN, which increases your store’s overall security and allows your team to securely connect to business resources from anywhere.  Enterprise-Class WiFi is one component of your security and retail theft prevention strategy. Retailers should also invest in store layout optimization and other measures to create a comprehensive theft prevention system. However, most small retailers don’t have the time, nor the expertise to leverage technology to create this system.  Let Your CIO handle that quickly and cost effectively (See our “XS Office Secure” starting at just $50/mo).