The Global Retail Theft Barometer is a statistical research report that reflects retail theft globally and indicates which product categories are most at risk for being subject to theft, as well as a host of other insights. The report is compiled using a combination of retail-driven surveys submitted by key decision-makers in the retail space.
Global Theft Meaning
As the name indicates, global theft is the loss of stock to shoplifting and stealing all around the world. Many cases in the world are missed, however, as they are not seen. The report gives a good indication of the statistics but does not reflect the magnitude of loss caused by global theft.
Global Theft Loss Prevention Solutions
Better performing countries in the world have been shown to have a not-so-secret weapon to combat theft in their retail stores; technology. So, what kind of technology can we implement in our own retail stores to prevent and avoid retail theft as much as possible?
Radio Frequency Identification Tags
Radio Frequency Identification (RFID) is a retail security system that has been proven to prevent both the temptation of theft and the act itself.
RFID tags can be programmed to transmit a signal that indicates particular items, meaning that store owners can do a recon of which items left the store without being paid for. The chances of this happening are slim because as soon as the tag reaches the sensor at the door, the sensor will set off an alarm to notify security who can then check the person to see if they have stolen anything.
RFID doesn’t run on batteries; they respond entirely to the radio waves from the transmitter that will be installed in the store.
Anti-shoplifting systems will effectively detect any stolen merchandise leaving your store if these items have been tagged.
Open Display Security
This system allows products like electronics to be on display whereby customers can touch and play with the items, but they are tethered and locked by a cable with sensors. These sensors on the products will set off an alarm if the product is tampered with or if a shoplifter is attempting to shoplift the product, alerting security.
If you have any questions regarding the Global Retail Theft Barometer, or you’d like to know more about our retail security solutions, please contact us.