“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