With longer opening hours, a strong desire to provide enhanced customer service and more open store layouts, new demands are being placed on security and the need for altered procedures in the retail sector. It’s an environment in rapid transformation, in which Gunnebo is actively involved in collaboration with customers. In areas such as goods handling, logistics and the acceptance of various types of payment card, the European retail sector has come a long way. But in many cases procedures for handling cash are similar today to how they were 50 years ago.
In addition, today’s stores are more open with wide exits and fluid boundaries between different shops in shopping centres, for example, amounting to a situation where the risk of theft and shrinkage has increased significantly. Altogether this has led to a greater need for security in the retail sector. Alongside conventional security solutions such as safes for secure storage, there is also a greater need for various types of article surveillance and CCTV, and the sector is increasingly demanding closed systems for cash management – from the checkout all the way to the bank.
MUST BE EASY TO USE
While security demands are increasing, it is important that the security systems developed for retail are practical and easy to use. At a bank, security issues are part of the job. Bank personnel are generally very loyal and stay for several years. In retail, personnel turnover is higher and employees do not expect security issues to be a large part of his or her work. Due to this, security systems have to be easy to use.
CLOSED MANAGEMENT IN DEMAND
Retail is a broad concept that encompasses everything from food to fashion and electronics. When it comes to fashion, an increased flow of goods is the main security challenge, and in response virtually all the major stores now have article surveillance. In the food sector, where the flow of money poses the main security risk, systems for closed cash management are increasingly in demand.
Gunnebo’s SafePay™ cash management system has been developed for the retail sector, and is completely customised to the conditions in retail. But installing a system like SafePay™ is a big change for a store, partly because it means well-established procedures have to be developed and modified. The installation decision is often taken at a senior level, not least because nowadays more and more stores are part of large chains, where each store has the same system.
CASH IS HERE TO STAY
A large proportion of all shopping will still be done with notes and coins in the future. Cash will not disappear! These days a lot of stores also act as ATMs, which puts more pressure on stores to have enough cash in their tills without increasing the risk of robbery or other shrinkage.
At the same time it is in the retailer’s interest that notes and coins not needed at the checkouts can be in the bank account as soon as possible. In many cases the solution at present is for the Cash in Transit Company to collect surplus cash each day. However, for many retailers this is not financially viable in the long run. Gunnebo, alongside customers and a bank, has developed a solution for these retailers where the money is accessible in the retailer’s account as soon as the cash is deposited. It makes no difference whether the deposit is made in the SafePay™ deposit unit at the store’s office or at the bank.
MONEY TO BE MADE
These closed systems provide an opportunity for security companies to make a collection once a week, while the retailer still has the cash credited daily.
Other financial benefits from a closed system include more efficient reconciliation and time saved not having to cash up – and the complete elimination of risk when it comes to counting-errors and cash theft.
Two companies who have incorporated SafePay™ into their businesses are Smart Club and French electronics chain Grosbill. Case studies on each can be seen below.