Why Loss Prevention Technology Is Necessary For Store Design
Retail shrinkage is the premier profit killer responsible for the demise of most retail businesses. Shrinkage is almost three times the average retailer profit margin consequently it is imperative that the industry employs every tool necessary to minimise the impact of shrinkage. The use of technology has been proven an effective tool against shrinkage.
As shoplifters and dishonest employees get smarter, it is incumbent upon retailers to employ effective control measures. There are two control measures, that when used effectively, can minimise retail shrinkage: the right policies and procedures and loss prevention (lp) technology.
The most effective way of using lp technology to increase profit is by designing the technology into the store design blueprint. Failure to design lp technology into the store design blueprint has been responsible for the ineffectiveness of most retail lp technologies.
The Most Commonly Used Retail Loss Prevention Technologies
There is a wide variety of retail loss prevention technologies available, the most common of which is CCTV. CCTV can be integrated into almost all such technologies to enhance their effectiveness.