Jan 21 2025 7 mins
Retail theft is costing businesses billions, but locking up merchandise alienates customers and reduces sales. Solutions exist, and finding a balance between security and customer satisfaction is crucial for retailers.
• Retail theft costs nearly $94.5 billion annually
• 60% of shoppers encounter locked merchandise regularly
• 27% of customers abandon purchases due to locked items
• Locking up products damages trust and customer loyalty
• Innovative solutions include RFID technology and smart shelving
• Open store layouts can encourage theft prevention and customer satisfaction
• Retailers must balance theft prevention with a positive shopping experience
References
Numerater 2024 https://www.numerator.com/press/60-of-consumers-encounter-locked-up-merchandise-27-will-switch-retailers-or-abandon-purchase-numerator-reports/?utm_source=chatgpt.com
Crain's New York Business https://www.crainsnewyork.com/retail/walgreens-says-locking-items-hurts-sales?utm_source=chatgpt.com
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