The sad reality is that retail stores will always be an easy target for shoplifters. This is due to the fact that retailers have two very attractive things thieves are on the lookout for, cash and valuables. Needless to say, stock shrinkage prevention should be the main priority for all shopkeepers as their merchandise is their main source of revenue.
Luckily, there are an array of devices and strategies one can employ to address a shoplifting problem or even completely prevent it. These smart anti-theft devices and technologies will allow you to reduce losses and increase safety within your store.
This article will dive into 3 theft prevention devices/strategies you can implement in your store immediately to prevent shrinkage.
3 Retail Theft Prevention Devices
Anti-theft devices that retail stores should implement include:
Radio Frequency Identification
Radio Frequency Identification (RFID) tags help store owners control inventory through efficient and accurate stock-taking. RFID makes use of “smart” tags that are attached to in-store products. These tags are then electronically linked to the store’s database where the details of the products are listed.
Dozens of tags can be scanned and read every second, allowing thousands of tags to be scanned in a couple of minutes. Each RFID tag has a special ID code that ensures that items cannot be counted twice. This technology helps business owners to easily identify when stock has gone missing, and it also deters employee theft as they know the crime will definitely be noticed within a short period between stock takes. Before implementing RFID, stock takes were done with long intervals between them, but with RFID stock takes can be as frequent as daily or weekly. RFID can also prevent unpaid items from leaving the store by alarming when an unpaid item is detected at the exit of the store.
Open Display Security
Open display security allows for more expensive items such as smartphones, tablets, and computers to be displayed without the risk of theft. This allows shoppers to interact with the products while staff are assured the products are safe and secure. When customers are allowed to freely touch and interact with the products it eliminates the need for a hovering salesperson, improving a customer’s overall shopping experience. Statistics indicate that sales increase by 40% if you allow your customers to touch and feel the products which they are interested in.
The open display security system works as follows: Items are secured using a locked cable attached to the merchandise, if this system is disturbed an alarm will be set off.
Electronic Article Surveillance
Electronic Article Surveillance (EAS) includes tagging products in-store with a smart tag that is detected by an antenna placed at the store’s entrance/exit. If an unpaid tagged product moves past the antenna an alarm goes off immediately alerting security or staff of the incident.
How Can You Reduce Theft in Retail Stores?
You can easily reduce the risk of theft in your store by implementing one of the above-mentioned anti-theft strategies. Anti-theft technology enables retailers across the globe to enhance profitability, reduce shrinkage, and allow store staff to focus more on what matters most – the customers.
Contact Milestone for any anti-theft system requirements.