6 Loss Prevention Strategies for Grocery Stores 

/in /by

A successful loss prevention strategy is critical to a grocery store’s profitability. Data from 2020 shows that for grocers, retail shrink makes up 2 to 3 percent of an average grocer’s revenue, a significant share when profit margins are often very narrow. 

Although margins are already slim, grocery retailers can often find sustainable, long-term profitability by improving their loss prevention efforts. In this guide to loss prevention in grocery, we will go over the unique LP landscape of a grocery store and our top strategies to reduce shrink in grocery stores. 

Read more

Top 7 Most Stolen Items From Grocery Stores and How to Protect Them

/in /by

Grocery stores have some of the narrowest profit margins in the retail industry, generally ranging from 1 to 3 percent. While this business model works well for grocers, which make their money on volume rather than individual products, retail shrink can be especially detrimental to a grocery store’s bottom line. With retail shrink hovering around 1.62 percent in 2019, that means that grocery stores could lose as much as half of their profit margins to shrink, much of which is preventable. 

Read more

How RFID Tags Detour Shoplifters in Retail Stores

/in /by

If you manage a retail store, you know full well how devastating shoplifting can be to your bottom line. According to a 2020 National Retail Security Survey, shrink was at an all-time high with costs to retailers hovering around $61.7 billion. As we ride through the COVID wave, shoplifting continues to rise, as the unemployment rate has been impacted by the virus and people are more desperate for goods but have thinner bank accounts.

Read more

What’s the Difference Between EAS Tags and RFID Tags?

/in /by

Shoplifting has always been a major concern for retailers, but the costs of retail loss have grown in recent years. According to Hayes International, stolen merchandise that was recovered by retailers dropped by over $34 million between 2019 and 2020. To combat retail shrink, anti theft devices for retail stores have become more affordable and widely available.

Read more

Why You Should Invest In Tamper Evident Cash Bags for Your Retail Store

/in /by

Many retailers are familiar with the cash handling process, which is a necessary but sometimes time-consuming part of managing retail operations. In addition to counting cash every day and recording these deposits, you must also store and transport cash, often working with a cash-in-transit (CIT) company to move deposits from your stores to your bank.

Along with more common retail security products like EAS and RFID systems, tamper evident bags can improve the internal security of your retail store while also increasing the efficiency of bank transfers. Today we’ll go over how tamper evident bags can support your retail operations using multiple types of security features to indicate tamper attempts and deter theft.

Read more

5 Features To Look For in Tamper Evident Bank Bags

/in /by

Ensuring you have reliable, high-quality banking supplies is an important part of the operational efficiency of your banking operations, from counting cash and coins from customers to transporting cash and other high-value assets between branches or to high-security vaults. In this blog, we’ll review why banking supplies like tamper-evident cash bags can improve your operational efficiency and prevent cash theft.

Read more

What Are the Important Features To Look For in Retail Security Packaging for Cash Deposits?

/in /by

As retailers continue to look for solutions that optimize their operations, many retail security companies have developed solutions that successfully protect high-value assets like merchandise and cash. In addition to storing and transporting these assets, companies that create well-made retail security packaging also help retailers to streamline the behind-the-scenes processes of handling these assets. This enables retailers to save even more time and money.

Read more

Choosing the Right EAS Tags for Your Retail Security Solution 

/in /by

Since the COVID pandemic broke, shoplifting has more than tripled across the country. This is why now, more than ever, retail managers and leadership teams should focus on choosing the right EAS tags for retail stores to help deter and prevent shoplifting. When choosing the right EAS tags to protect your merchandise it all comes down to some specific factors, including the product types you sell and the existing electronic article surveillance (EAS) system you have set up in your store.

Read more

What are the Benefits for Retailers to Invest in EAS Tags?

/in /by

As a retail manager one of your many responsibilities is to increase sales and profits by reducing shoplifting. Ever since COVID-19 broke out, reports across the country indicate that shoplifting percentages have exploded, and retailers are losing millions of dollars. There are a number of reasons why partnering with a company like CONTROLTEK that manufactures EAS tags for retail stores is important to both protect your profits, and offer customers a better shopping experience. This article will explain the value of having EAS tags in relation to giving your customers a positive environment in which they can try on and purchase products, as well as how EAS tags can significantly reduce losses caused by theft.

Read more

These are the Retail Security Products Every Store Manager Should Invest In

/in /by

Most retail stores post signage stating that shoplifters will be prosecuted, as well as signs that let shoppers know they are on camera. However, these types of anti-theft devices for retail stores aren’t effective, as billions of profits are lost every year due to shoplifting, in stores with this type of signage. If you manage a retail store, then loss prevention is one of your primary responsibilities. There are a wide range of retail security products for all types of merchandise that will help significantly in preventing shoplifting in your store. This article is intended to introduce you to some of the most cost-effective retail security products that will deter shoplifting and help protect your profits and merchandise.

Read more