OKFB Offers Ways Business Owners Can Prepare for the Holidays

In 2020, Oklahoma’s shoplifting case values increased 52% compared to 2018, according to Oklahoma’s Retail Theft Survey.

OKLAHOMA – With the upcoming gift-giving season, business owners can expect to see an increase in foot traffic. To prepare for the influx of shoppers, businesses not only need to prepare for supply and demand, but they also need to prepare for the possibility of shoplifters.  

The National Retail Federation reported, there are almost 53,000 retail establishments in Oklahoma. Theft can heavily impact these businesses, and the president of the Oklahoma Retail Investigators Network, Norm Smaligo, said, “Every citizen is paying an invisible tax of $500 a year to cover the losses due to theft.” 

“Around 25% of jobs in Oklahoma are supported by the retail industry, and it is our job to help ensure our fellow entrepreneurs are protected against the unexpected,” said Gary Buckner, executive vice president and general manager of Oklahoma Farm Bureau (OKFB) Insurance. “We want to support businesses of all shapes and sizes in any way that we can.”

OKFB Insurance is sharing a few ways Oklahoma business owners can safeguard their businesses from shoplifters this holiday season. 

Train and Leverage Employees. Hosting a training session with employees can be beneficial in implementing best practices and teaching them what they should be looking out for. For instance, having an employee at the front of the store as a greeter provides a friendly encounter, but also provides an opportunity to monitor for any suspicious activity as people enter and exit.   

Post Signage, Mirrors or Cameras. With the hustle and bustle, having mirrors and security cameras posted could help with common blindspots and overall visibility of your store. Also, posting signage that details the consequences of theft could cause an individual to think twice before committing the act. 

Review Your Policy. Along with taking preventive measures, it is also beneficial to check in with your insurance agent and talk through your current Commercial Insurance policy. Be sure to discuss any updates or changes that were made to your business, as well as review if your current policy includes property coverage that would protect inventory from theft. 

Whether you are the owner of a retail store, barber or beauty salon, restaurant, deli or cafe, Commercial Insurance or our Businessowners Policy can help keep you protected this holiday season.  

About Oklahoma Farm Bureau Insurance

Oklahoma Farm Bureau Insurance is proudly celebrating 75 years of serving Oklahomans. Since 1946, OKFB Insurance has worked to protect Oklahomans from the risks they face every day, whether it be home, auto, life, commercial or farm & ranch. With agents in all 77 counties, we are ready to serve our neighbors at a moment’s notice and are committed to helping our 140,000+ member families to insure their future. To learn more, visit http://www.okfbinsurance.com.

 

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