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Loss Prevention

Employee and customer theft cost retailers an estimated £34 billion annually, or approximately 2% of their annual sales.

When you add on increasing rents and decreasing foot fall, it's no wonder those shops with tight margins are now finding it even tighter and are closing at record rates. Using technology to counteract theft is nothing new for retail; electronic tags, CCTV, and increased security are all commonplace, but do little to curb the trend.

In reality, retailers today need a solution which will give them unprecedented stock visibility and accuracy, reducing shrinkage and fraudulent returns and increase sales. This is where Logicalis can help. 

Business Benefits:

  • Gain stock visibility and accuracy
  • Reduce shrinkage
  • Accurate reporting & forecasting
  • Enhanced customer service
Loss prevention

Loss prevention

“A common misperception about shoplifting is that retailers can ‘afford’ the loss of a candy bar or a pair of jeans, but the truth is that the industry loses billions of dollars each year at the hands of callous criminals that could be put towards human capital, promotions and other necessary business operations,” says NRF Vice President of Loss Prevention Bob Moraca.

A recent NRF (National Retail Federation) survey stated that shoplifting makes up 38% of inventory shrinkage, with 35% coming from employee theft. Another 16% is down to administrative and paperwork errors, and 6% from vendor fraud and error. If a solution could track items from origin to point of sale and provide visibility to retailers, increase accountability from employees and vendors, improve customer experience, and increase sales - why would anyone say no?

RFID addresses all of those concerns, and, while bulky and cost-prohibitive in the past, newer solutions provide a streamlined, visually-pleasing experience for shoppers and retailers alike. 

Adopting RFID