Retailers combat shrink


No country is safe from the ravages of theft. Especially not with retail organized crime (ROC) expanding at an alarming rate.

ROC (or retail organized theft, as it is called in Europe) operates worldwide, often in conjunction with other crime, including narcotics and human smuggling. For the retail sector, even if businesses just maintain their present security measures, shrink will increase. Preventative action is required.

There are solutions to help reduce retail crime, including new technologies such as the electronic Logic locking system from Medeco High Security Locks, an ASSA ABLOY company. Employee engagement is also imperative for reducing shrink as the Best Buy retail chain shows.

Across North America, Best Buy Co. Inc. is best-in-class in reducing shrink to 0.40 percent, crucial in the electronics retail arena where profit margins are already slim.

The retailer has intensified its employee training programs, empowered more employees with responsibility for loss prevention, and linked them to the introduction of new security solutions.

Read the entire article at ASSA ABLOY Future Lab