If you are an owner or employee of a retail business, Santa Claus is not the only one coming to town this month.
As the shopping season gets into full swing, any company selling products that can be given as gifts will be dealing with levels of physical and digital traffic typically not seen at any other time of the year.
This is a great thing! Many businesses rely heavily on holiday sales as part of their total fiscal goals and every company would love to see their profits climb.
However, with the good come some possible risk factors to be aware of. We discuss a few ways you can combat the most common ones this holiday season:
1. HIRE SEASONAL STAFF
A tried and tested practice most retailers have utilized for years. If your business is expecting a steep climb in customers you need to hire enough good help to provide them with the same high level of service you offer the rest of the year. A side benefit for you is the more eyes you have in the store the better secure you will be. More on that below.
2. BEEF UP SECURITY
More customers means more sales, but it usually means more theft too. Whether you primarily sell online or in store, there are ways to strengthen security ahead of the holiday rush to make sure you are as protected as possible. Now would be a good time to install or fix video surveillance and make sure your physical security such as locks and windows are all secure.
3. PREVENT INJURIES
Shoplifting is not the only threat to your business when the rush is on; you will also want to protect yourself from liability due to customers being injured in your store.If the volume of shoppers are enough that capacity is a concern, make sure that staff only allow a proper number of people into your store at one time.To keep people safe while in your store be extra vigilant of potential hazards such as wet floors, stacked inventory and cluttered aisles. To be honest, some shoppers can seem more like a herd of animals during the holiday season and most likely not too concerned with the mess they leave behind as they stampede through your store.
SOME OTHER IMPORTANT TIPS TO KEEP IN MIND
- Hire additional staff early and train well! Increasing the size of your team will not be effective if they are not well prepared ahead of the rush.
- The stronger your security system, the lower your commercial insurance may be! Ask your insurance agent.
- If you sell online, make sure your website is fully SSL secured!
- Never forget the outside! If your store exits onto the street, make sure to shovel snow and salt the ice to prevent slip and falls in front of your business.
If you prepare properly and focus on minimizing risk during the holiday season, there is no reason not to be able to chuckle warmly and enjoy a cup of hot cocoa with the rest of us once the rush is over.
Erie Mutual Insurance proudly serves the commercial insurance, farm insurance, home insurance and auto insurance needs of members throughout Southern Ontario including Haldimand, Niagara and Hamilton.
Please don’t hesitate to contact us with any questions you may have about this or any other topic related to your insurance.
