Product theft has become a $35 billion annual problem for U.S. retailers, but only a small percentage of merchandise accounts for the majority of loss due to theft. Just twenty percent of retail products cause eighty percent of stock loss. These items are referred to as “hot products.” They hold a high value to shoplifters, particularly professional thieves.
Retailers are forced to implement strategic loss prevention initiatives to reduce theft of these hot products. In response to such dramatic loss, drastic measures are often put in place to reduce theft, such as locking up merchandise.
There’s no doubt that locking merchandise will dramatically reduce theft. This strategy seems like a big win for loss prevention until the realization sets in that the only thing declining as fast as shrink is sales. Locking merchandise has been shown to decreases sales by 38%!
Download the full paper below to discover the 5 ways.
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