The biggest shopping season of the year is nearly here, and while it can give a financial boost to retailers, it can also come with a variety of security issues and liability risks, especially on Black Friday. Without proper preparation, retailers could find themselves losing out on customers and revenue, as well as facing major losses and damages because of large crowds. Today's blog post looks at some ways retailers can better protect their business this holiday season, as well as employees and customers.
Hiring and Training Additional Staff
The primary way retail stores can protect themselves this holiday season is through the hiring and training of additional staff members. Too often stores can become overwhelmed because there aren't enough cashiers or retail workers to help the large influx of customers coming through the doors. In addition to providing extra help for ringing up sales and helping customers with merchandise, extra staff members can also serve as added security and crowd control, especially during the frenzy of Black Friday shopping. This can help minimize store losses due to theft or damages from large crowds.
Retailers can suffer significant losses because of the increase in theft or damaged merchandise that accompanies the holiday season. In order to reduce losses and damages, merchandise should be securely stored and shelved so customers can easily access it without injuring themselves or damaging nearby products. In addition, retailers may consider upgrading security systems in order to better monitor merchandise throughout the day, whether during store hours or during closures or overnight hours. This can help deter thieves who might look to quickly steal jewelry, electronics, or other valuable merchandise.
Improved Organization and Customer Service
Finally, retail owners and managers can benefit significantly through improving their store organization and customer service efforts for the holiday season. Particularly on Black Friday when crowds can be large and unruly, having an organization plan for dealing with shoppers and Black Friday merchandise can be the difference between happy shoppers and injured, angry customers who might pursue legal action. Retailers with big Black Friday sales might consider having customers draw numbers for the opportunity to buy specific sale merchandise rather than just unwrapping pallets and letting customers fight over items. Having higher sales revenue isn't worth it if your retail store is sued in court over injuries or trauma, or goes viral for all the wrong reasons.
This holiday season, make sure your retail business is protected with quality Commercial Insurance coverage from Aegis Insurance & Financial Services. Our team of Commercial Insurance experts can help you develop a strategic insurance plan that meets your unique company needs and is tailored to your specific industry. Contact Aegis at 713-850-7622 for more information, or fill out our online form for a free quote!