According to the British Retail Consortium, retail theft continues to surge, with retailers losing £1.8 billion across 16.7 million incidents in 2023, rising from £950 million and just under 8 million incidents the year before. Despite retailers implementing security enhancements, such as extra guards, body cams and dummy products, the issue of stolen goods continues to plague the retail industry.
A common misconception is that the most effective way to resolve this issue is investing in expensive cybersecurity systems, however small loss-prevention retail solutions are arguably equally effective in deterring criminals and making theft more challenging. Retailers do not need to splash the cash on big tech to protect their stores when affordable loss-prevention solutions are available.
Daryl Bedford. Sales Director at Harrison Retail, said, “In-store retailers can put shelving solutions in place to ensure potential criminals can only pick up a single product at a time. High-shelf facings are simply installed, making it impossible for customers to snatch multiple products. This simple solution saves retailers thousands and deters criminals from targeting the same store.
“When products are locked in place, they are less likely to be targeted,” Bedford added. “Anti-theft security tethers act as customisable, retractable, and adaptable in store solutions. Metal tethers allow retailers to secure a wide range of products, maintain a visually appealing display and deter potential thieves effectively. Retail solutions, such as robust and durable security tethers, protect high-value goods and create a safer, more inviting shopping environment.
“Further still, products hanging on merchandise display hooks are an easy target for criminals. Retail solutions such as magnetic prong locks are a simple solution to stock loss. Retailers can protect valuable assets such as print cartridges and shaver heads using magnetic release keys to remove magnetic prong locks quickly and easily from metal display hooks.
“High-tech security systems are an expensive investment, and although they produce the desired results, they are not always necessary. POS and display solutions ensure store displays are safeguarded from potential theft at a fraction of the cost. Retailers looking to fortify their product security should leverage these solutions to combat stock shrinkage.” Bedford concluded.