Retailers are being urged to stay vigilant against fire risks and thieves during their busiest period this Christmas.
Some 10% of fires in retail stores occur during the busy Christmas period, adding up to seasonal losses of nearly £4.4m, according to insurers More Than.
The increased risk at this time of year is attributed to high stock levels coupled with the fire dangers posed by cheap decorative lights.
With the average insurance claim after a retail fire estimated at £30,000, Mike Bowman, head of insurance at More Than Business, says that fire incidents are one of the biggest risks for retailers.
“Retailers need to ensure they’re properly protected, otherwise profits could be seriously affected and in some cases shops can cease trading,” added Bowman.
The six weeks from mid-November to the end of December also costs UK retailers an estimated £447m in theft, according to the report.
Hustle and bustle generated by high levels of Christmas shoppers makes it easier for shoplifters, say More Than. The company advises retailers to be extra vigilant in order to deter thieves.
“One thing shop thieves don't like is lots of attention, so good customer service and effective theft deterrence can be rolled into one,” said Professor Martin Gill, Professor of criminology at the University of Leicester.
© Crimson Business Ltd. 2006
