Retailers are facing many challenges today. From the shortage of workers to rising expenses, small business owners—and even major retail chains—are needing to take a closer look at how to protect their profit margins. Finding new ways to curb retail shrinkage is a great place to start. That’s how EAS tagging systems can help!
What’s Been Happening with Today’s Retail Shrinkage Reports?
Some of the country’s largest retailers have announced significant shifts in their loss of inventory reporting in recent months. And if big corporations are experiencing those issues, then we can definitely assume that an increase in theft has been happening on the smaller-scale level too.
At the end of 2021, Best Buy acknowledged that a jump in thefts had slowed its growth. Walgreens has had similar numbers to report. The drugstore chain shared that they lost roughly 50% more money due to loss and theft in 2021 than it had in 2020.
Additionally, the 2021 Retail Security Survey revealed that retail shrinkage reached a high of 1.6% in 2019, and that the statistic continued to remain that high throughout 2020, as well.
While administrative errors may account for some of the losses, there’s no denying that shoplifting is a primary influence for retail shrinkage. Some employers might also have problems with employee theft.
Keeping an organized, well-maintained store is one strategy for detouring would-be shoplifters. There’s also the practice of training staff appropriately to walk the floor and be a more active presence with your shoppers. An even better solution, though, is to make the facility upgrade to a comprehensive EAS security tagging system.
Boosting Loss Prevention Efforts with EAS Tagging
There are clear differences between carefully-orchestrated theft scenarios and a single shoplifter. This actually ends up being good news for small business owners. Whereas major retail chains need to develop set strategies for combating organized crime, local retailers can get a lot of immediate benefits by working with EAS tagging.
The security tags can be applied to all types of merchandise, so whether you’re running a corner grocery store, home goods store, or selling apparel, there’s an EAS tag that will be the right fit for your products.
Even just setting up your EAS antenna system at your store entrance can be a game changer. We’ve all seen the devices at larger, big box stores. Walking past these security precautions is a great reminder to any would-be shoplifters that you take theft seriously. With both your EAS tags in place and the EAS antenna system prominently on display, you’ll have both sides of a loss prevention solution working together in harmony.
Install Your EAS Security System with Enhanced Telecommunications!
Putting the focus on loss prevention helps companies save money and lower their risks. Even taking minor precautions can have a big impact on your bottom line.
With a new EAS security system, you and your staff can have better peace of mind knowing that the people entering your store will be thinking twice before making an attempt to shoplift. And if the alarm does go off—then you’ll have the opportunity to address any concerns directly, before it’s too late.
When you partner with Enhanced Telecommunications and Data, we’ll help you identify and install the EAS tagging solution that’s right for your place of business. Let’s keep your inventory safe!