Knowledge Centre
Risk Assessment
Small Retailers face fire and theft risks at Christmas
Whilst the festive season can be a prosperous time for the retail industry it can also generate a whole host of new fire hazards and theft risks for retailers.
One in ten fires in retail stores happen during the Christmas period
Mike Bowman, Head of Insurance at MORE TH>N BUSINESS, explained: “Fire incidents are one of the biggest risks for retailers. Increased stock levels coupled with faulty fairy lights and decorations are literally an explosive combination. Retailers need to ensure they’re properly protected, otherwise profits could be seriously affected and in some cases shops can cease trading.”
To reduce the risk of fire, MORE TH>N BUSINESS recommends the following steps:
A 100 per cent increase in theft in small retailers is also expected during the festive season
Seasonal theft is another major consideration for retailers. The temptation of Christmas displays coupled with the hustle and bustle generated by Christmas shoppers mean there is a significant increase in opportunist shoplifting. Retailers are also at risk of losing stock from the very people they employ. Often retailers will take on temporary staff to help cope with the Christmas rush. It is a sad fact that taking on temporary staff can be counterproductive, with the staff helping themselves to the shop’s stock.
Professor Martin Gill, Professor of Criminology at the University of Leicester, said: “The threat from shop thieves always exists, so it is a good idea to carry out a risk assessment; think like a thief if you can and then take steps to reduce the risk. One thing shop thieves don’t like is lots of attention, so good customer service and effective theft deterrence can be rolled into one.”
Mike Bowman continued: “Christmas is the busiest time of year for the retail industry and can often make or break an independent retailer. Shop owners invest time and money planning for a successful season and often significantly increase their stock levels in the months preceding Christmas. So it goes without saying that they should have adequate insurance in place covering fire, flood and theft, should anything untoward happen.”
Top tips for reducing seasonal theft risk:
For further information on Shop Insurance from MORE TH>N BUSINESS click here.
One in ten fires in retail stores happen during the Christmas period
Mike Bowman, Head of Insurance at MORE TH>N BUSINESS, explained: “Fire incidents are one of the biggest risks for retailers. Increased stock levels coupled with faulty fairy lights and decorations are literally an explosive combination. Retailers need to ensure they’re properly protected, otherwise profits could be seriously affected and in some cases shops can cease trading.”
To reduce the risk of fire, MORE TH>N BUSINESS recommends the following steps:
- Keep tinsel and similar materials away from sources of heat
- Make sure portable appliances are safe by checking the wiring, condition of plugs, sockets and trailing electric cables and don’t leave them on overnight
- Don’t use candles or other naked flame decorations
- Don’t overload sockets
- Provide appropriate fire extinguishing appliances and ensure your staff are properly trained in their use
- Make sure that the additional Christmas stock is not kept near electric light fittings in stock rooms/store areas
- Make sure your Fire Risk Assessment is complete
A 100 per cent increase in theft in small retailers is also expected during the festive season
Seasonal theft is another major consideration for retailers. The temptation of Christmas displays coupled with the hustle and bustle generated by Christmas shoppers mean there is a significant increase in opportunist shoplifting. Retailers are also at risk of losing stock from the very people they employ. Often retailers will take on temporary staff to help cope with the Christmas rush. It is a sad fact that taking on temporary staff can be counterproductive, with the staff helping themselves to the shop’s stock.
Professor Martin Gill, Professor of Criminology at the University of Leicester, said: “The threat from shop thieves always exists, so it is a good idea to carry out a risk assessment; think like a thief if you can and then take steps to reduce the risk. One thing shop thieves don’t like is lots of attention, so good customer service and effective theft deterrence can be rolled into one.”
Mike Bowman continued: “Christmas is the busiest time of year for the retail industry and can often make or break an independent retailer. Shop owners invest time and money planning for a successful season and often significantly increase their stock levels in the months preceding Christmas. So it goes without saying that they should have adequate insurance in place covering fire, flood and theft, should anything untoward happen.”
Top tips for reducing seasonal theft risk:
- Make sure your security systems are fully operational
- Keep a close check on your stock
- If you do employ seasonal staff, make sure they are from a reputable source
- Make sure you have nominated drivers to respond to alarm calls over the festive season
- Call us to increase your stock cover on 0800 294 2414
For further information on Shop Insurance from MORE TH>N BUSINESS click here.
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