Risks in the Retail Industry and Prevention Methods

Security issues in the retail industry can cost companies billions of dollars each year. Risks in the retail industry usually appear in two areas: data breaches and physical theft. In order to properly protect your business, you must first understand the risks involved.

retail store

1. Data Breaches

Since the pandemic, shopping online has become a common way of buying. But with the occurrence of more and more online businesses, the risk of data breaches is greater than ever. Hackers usually treat small businesses as targets, because these businesses often don’t have mature security systems. But thankfully, small businesses can take some steps to improve online security.

  • Use reliable antivirus software designed for small businesses
  • Set up firewall
  • get a cyber security audit from professionals

2. Physical Theft

Physical theft can be divided into many types, including employee theft and in-store theft. The solution to prevent physical theft is also very simple, which is to choose a reliable access control system, such as the Vanma smart lock system.

Employee theft

This is actually a growing problem in the retail industry. The cost of average dishonest employee cases in 2019 is $1,139.32. Although most employees are trustworthy, the necessary precautions should also be taken.

In response to employee theft, Vanma Smart Lock System has developed an audit function and a flexible authorization function.

  • Audit functionThe administrator can view the lock/unlock record in the Vanma smart lock system. In the event of a theft, the administrator can easily determine who the thief is based on the record.
  • Flexible authorizationEmployees in retail stores are usually divided into different shifts, such as day shift and night shift. The manager can set when the key can unlock the lock in the system, so that employees can unlock the lock only during working hours.

In-store theft

In-store theft is a very serious problem. If the retail store is not secured, it is easy to become a target of thieves. And the theft is not an incident. If the security system is not upgraded as soon as possible, it will become a target again.

In view of the theft in the store, the advantage of the Vanma smart lock is it is a passive electronic lock, which cannot be copied and blacklisted. Passive electronic locks install the power supply in the key, and the lock itself has no power supply, so no wiring is required. You can keep the style in your store without the need for new cabinets. And its installation method is very simple, the same as the steps of installing a mechanical lock. Some access control systems will lose control after a power failure, all locks will fail, and will automatically remain unlocked, which provides great convenience for thieves. This will not happen with the Vanma smart lock system. Even if the power is off, it will not affect the use, because all the power is located in the key. The lock can be unlocked only after the lock is in contact with the key, is powered and two-way authentication is performed. Vanma smart locks are different from mechanical locks. All its keys have the same appearance. They can only be unlocked after the two-way authentication of the key and the lock. Therefore, even if the appearance of the key is copied, there is no way to unlock it. In order to prevent security risks caused by the loss of keys, Vanma smart locks have a blacklist function. When the key is lost, the manager only needs to add the lost key to the blacklist, then it will not have the authority to unlock any locks.
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