CONTROLTEK’s Post

#RFID + Predictive Analytics are positioned to take retail theft solutions to the next level, greatly increasing the efficacy of traditional hard tag loss prevention approaches. With HUNDREDS OF BILLIONS OF DOLLARS in retail theft annually, there is plenty of opportunity for improvement. This dual approach not only improves #theft prevention—it sets the stage for future RFID innovations that could streamline operations and reduce costs. #RFID #Retail #Theft

Retail shrinkage has reached a crisis level, as highlighted by a recent study commissioned by Avery Dennison. With retail theft on the rise, three-quarters of large retailers are turning to RFID technology as a solution. The study found that RFID is not only enhancing inventory management but also playing a critical role in shrinkage detection and loss prevention. As the sophistication of retail crime evolves, so too must our strategies. RFID offers a powerful tool in this fight by providing actionable data that helps retailers identify and prevent theft more effectively. Whether it's integrating RFID with video surveillance or deploying it at store exits, the technology is paving the way for a new era of intelligent, evidence-based loss prevention. At CONTROLTEK, we're committed to helping retailers tackle these challenges head-on. Reach out to us to see how we can assist in safeguarding your business with our cutting-edge RFID solutions. Together, we can protect your assets and strengthen your bottom line. Check out this article by Claire Swedberg-RFID Journal https://lnkd.in/emy-zaTQ Marshall Kay | Joe Coll | RFID Journal | Claire Swedberg #LossPrevention #RFIDTechnology #ShrinkagePrevention #RetailInnovation #AssetProtection #rfid

Always my favorite topic in the retail world is that retail stores locking up more and more products behind glass is not the answer to decreasing shrink or theft. While it may help in the short term, the truth is that consumers hate it and it adds friction and time to the shopping experience. Imagine if you had to fill out a captcha every single time you added something to your online shopping cart? It also makes consumers question why they didn't just order something online to begin with - something that brick and mortar stores are actively fighting against. The answer to retail shrink and theft doesn't lie in physical barriers, but more so in widespread adoption of less conspicuous #retailtechnology like RFID tags and smart packaging 🧠📦. RFID tags are small, nearly undetectable labels that can be added to products large or small and allow retailers to monitor the flow of products from backroom to shelf, from shelf to cart, and from cart to purchase. Think about a loss prevention team that can set up a trigger when a high value item is interacted with or placed in someone's physical cart, or if a large quantity of high value, small items are picked up at the same time. Insights like these are available through RFID data capture and can be easily set up in brick and mortar shops large or small. It's one way that retailers can reduce the friction of in-person shopping while preventing loss of revenue from theft. #rfid #retailtechnology #lossprevention #retail

Ever wondered how retail giants like Walmart manage to keep theft at bay? Walmart has mandated RFID tags on every item, from electronics to apparel, enhancing inventory tracking and minimizing shrinkage. With RFID technology, Walmart gains full visibility into its inventory, enabling swift action against theft at all levels. Click here: https://lnkd.in/er2zEiCi to know how RFID helps Walmart combat fraudulent returns and employee theft, potentially saving billions in losses. Protect your business with cutting-edge solutions like RFID. Learn more about how https://lnkd.in/gYDg23WW can help fortify your retail operations #RetailCrime #RFID #Walmart #LossPrevention #SecuritySolutions #Neoteric365 

RFID in Retail Loss Prevention In the evolving landscape of retail, RFID is paving the way towards a transformative approach in loss prevention, shifting the paradigm from traditional methods to advanced loss detection strategies. Historically, retail Loss Prevention (LP) Departments have relied on annual stock counts to assess product loss, providing limited insights into the timing and specifics of theft incidents. This method, while necessary, often resulted in delayed responses and inadequate theft prevention measures. Although RFID has been a talking point in retail for the past 20 years, it is encouraging to eventually see the Loss Prevention use cases come to the fore. Unlike traditional Electronic Article Surveillance (EAS) systems, which merely signal the presence of a tagged item, RFID enable’s real-time tracking of individual products. This granularity in product monitoring allows LP Departments to tap into data from more frequent cycle and category counts which significantly enhances their ability to pinpoint when and potentially where items are being stolen. One of the standout benefits of RFID in retail is its role in digitizing loss prevention. By equipping products with RFID tags, retailers can gain extensive insights and data, enabling them to deter theft more effectively and adopt a proactive stance against retail crime. This technological leap provides a dual benefit: it not only aids in loss prevention but also optimizes inventory management, ensuring that retailers have a precise understanding of their stock levels at any given time. RFID technology's impact on loss prevention is profound. Retailers implementing RFID systems have reported reductions in shrinkage by as much as 55 percent. The technology's ability to provide specific details about stolen items—such as the exact product and its last known location—offers a significant advantage over traditional methods. This level of detail aids in the recovery of stolen goods and helps in the accurate replenishment of inventory, ensuring that sales do not suffer due to stock shortages. Moreover, RFID enhances merchandise visibility throughout the store, enabling retailers to track high-theft items more closely and ensure that products are legitimately purchased before leaving the premises. This increased visibility is crucial in departments that are traditionally targeted by thieves, such as electronics, luxury goods, and even everyday items like meat and baby formula. There is no doubt that RFID is revolutionizing retail loss prevention by providing the tools needed to move from loss prevention to loss detection. With its ability to offer detailed insights into product movements, we can expect to see a significant shift in how retail losses are managed and prevented, marking a significant step forward in the fight against retail theft. #rfid #lossprevention #inventorymanagement #datascan

As retailers increasingly face significant losses due to theft, RFID is coming to the forefront as a way to supplement legacy loss prevention technologies. For example, hard tags remain a relatively effective, visible deterrent against theft. However, products that are source-tagged with RFID provide visibility to the entire supply chain, significantly improving operational insights and loss prevention analytics. With an increasing number of retailers issuing RFID mandates, our industry's opportunity to help solve shrinkage in the supply chain is NOW! #RFID #RFIDTechnology #RetailTechnology

According to the 2023 National Retail Federation's National Retail Security Survey, 88% of retailers shared shoplifters are more aggressive than in the past. Equip your employees with #MotorolaSolutions VT100 and VB400 #retail body cameras to ensure a #safe and secure shopping experience.

According to the 2023 National Retail Federation's National Retail Security Survey, 88% of retailers shared shoplifters are more aggressive than in the past. Equip your employees with #MotorolaSolutions VT100 and VB400 #retail body cameras to ensure a #safe and secure shopping experience.

🛡️🛍️ "Reducing Losses: How RFID Prevents Theft and Counterfeiting in Retail" 🛡️🛍️ Inventory Mastery: RFID gives every item a digital ID, making it impossible for merchandise to pull a disappearing act. Say hello to seamless inventory management. Authenticity Assurance: No more playing detective. RFID tags sniff out counterfeit products with ease, saving retailers the headache of dealing with knock-offs. Thief Deterrent: Sticky fingers beware! RFID is the ultimate bouncer, ensuring that only paid items leave the premises. Theft just got a whole lot riskier. Real-Time Surveillance: It's like having eyes in the back of your store. RFID monitors your inventory 24/7, so there's no sneaky business going unnoticed. Loss Prevention MVP: With RFID on your team, losses take a backseat. It's the frontline defense every retailer needs against theft and counterfeit woes. RFID isn't just a technology; it's a game changer for retail inventory, checkout and security. 💼✨ #RFID #RetailTech #LossPrevention #InventoryManagement #CounterfeitDetection #RetailSecurity #AssetTracking #StopTheft #AuthenticityVerification #SupplyChainSecurity

The retail sector is undergoing fundamental changes in the face of rapid digitalization. The Dahua Smart Retail Solution provides security and loss prevention for retail shops while strengthening business operations with extensive video-aided business intelligence and analytics functionality. The Dahua Retail Solution uses the latest technologies to provide: • Security & Loss Prevention: Combat shoplifting, internal theft, cashier fraud, and ensure a secure & safe shopping environment. • Business Intelligence: Reduce OPEX, increase store operating efficiency, and enhance profits by grasping the direct relationship between foot traffic data and transaction data.