Why loss prevention technology is needed for store design
Retail trade cuts are the main cause of death for most retailers. The reduction is almost three times the average retailer’s profit margin, so it is imperative that the industry uses all the necessary tools to minimize the impact of the reduction. The use of technology has proven effective against shrinkage.
As thieves and unscrupulous employees become smarter, retailers must apply effective control measures. There are two controls that, if used effectively, can minimize the reduction in retail: correct policies and procedures and loss prevention technology (LP).
The most effective way to use lp technology to increase profits is to develop technology in terms of store design. The inability to develop lp technology in terms of store design has led to the inefficiency of most retail lp technologies.
The most common loss prevention technology in retail
There are many retail loss prevention technologies, the most common of which is a video surveillance system. The video surveillance system can be integrated into almost all of these technologies to increase its efficiency.
The most used retail technology lp:
- Point of sale (POS)
- Exception based reporting system (EBR)
- Radio Frequency Identification (RFID)
- Electronic Article Watch (EAS)
How to implement loss prevention technology in the design of your store:
The use of technology after a retail store has been developed will not give the desired result; technology must be included in the store design plan to be effective.
To do this, you need to do the following:
- Consider your target market.
- Determine the level of protection required.
- Indicate the purpose of the online technology store australia.
- Consult with the lp department.
Steps for incorporating LP technology into your store design:
Follow the steps below when planning your retail store design.
- Determine your target market: this will allow you to set the required level of security.
- Contact the loss prevention department (if there is one in your organization) to request their input into the project, as they will be aware of the different areas that need protection.
- Hire the services of a loss prevention consultant (if your organization does not have a loss prevention department)
- Determine the functionality of each lp technology selected prior to investment. All technology store near me must have a goal in your store.
- Be sure to use a multi-faceted approach that includes a combination of video surveillance systems, point of sale (POS), exception-based reporting systems (EBR), radio frequency identification (RFID), and electronic object surveillance (EAS).