Checkpoint Systems, leading global supplier of merchandise availability solutions for retail businesses, recently announced they are rapidly supplying more than 8,000 Family Dollar Stores with electronic article surveillance (EAS) systems nationwide. Since deployment in October 2013, 3,500 systems have been installed and 120 are happening each week, this marks the move as one of the fastest introductions of the new service for Checkpoint.
Family Dollar will be implementing use of Checkpoint’s source tagging, hard tagging program on merchandise as well as installing EVOLVE P10 ECO, “the most advanced shrink management system on the market” throughout all stores by December of this year. The powerful EAS system features include data analytics, alarm management, energy savings, and RFID technology. All three systems combined will provide Family Dollar with an all-inclusive approach to reducing shrink and increase sales.
Family Dollar entered into a multi-year agreement with Checkpoint in October 2013 after analyzing positive results during three years of testing EVOLVE P10 ECO system in select stores. Use of EVOLVE ECO electronics is expected to reduce store shrink in addition to reducing energy consumption by 75 percent compared to other solution alternatives. “We are thrilled to participate in the continued success story of Family Dollar. This is a proven program, with a significant ROI, so our focus is on speedy and efficient implementation. The program is also a strategic platform for future added value; the long-term partnership, therefore, is exciting for both companies,” states Per Levin, President and Chief Sales Officer, Shrink Management and Merchandise Visibility Solutions, Checkpoint Systems.
According to a study through Euromonitor International in 2013, Checkpoint revealed that with the increase in organized crime, shoplifting, and employee theft, companies are suffering, as shrink is continuously escalating. Global Retail Theft Barometer 2012-2013 revealed, shrink cost the retail industry more than $112 billion globally in 2012, representing 1.4 percent of retail sales. As a result, more and more retailers are placing shrink reduction at the top of their priority list, investing in resourceful, high-quality technology solutions to prevent loss. “Retailers are deploying RFID-based solutions that combine protection with visibility at the item level. This type of strategic platform, combined with investments in people and processes, opens up new horizons to reduce out of stocks, improve merchandise availability for consumers, and increase sales for retailers,” explains Levin.