Retail security and loss prevention were analyzed in a recent report by Software Advice. Survey data reveals that 68% of SMB retailers are experiencing shrink rates above the industry standard of 1.5%. This rise is predominantly attributed to external theft and marks a significant challenge for businesses with smaller margins and less sophisticated loss prevention strategies. Thirty-four percent of SMB retailers report a rise in shrink over the past 12 months, and 46% have experienced more theft at their stores. With shrink taking a bigger bite out of small business sales, the focus on effective loss prevention strategies is paramount. Of the retailers who have observed more theft, 88% say they now consider loss prevention a top priority. SMB retailers are adopting a range of strategies to curb shrink. Over half (54%) have installed or updated security cameras in the past year, a move indicative of their commitment to improving surveillance and reducing theft.