Charles Bedford, CEO of Harrison Retail explains why retailers should adopt point of sale (POS) and display solutions for loss prevention.

According to the British Retail Consortium, (BRC) retail theft continues to surge, with retailers losing £1.8 billion across 16.7 million incidents in 2023, rising from £950 million and just under 8 million incidents the year before.

Despite retailers implementing security enhancements, such as extra guards, body cams and dummy products, the issue of stolen goods continues to plague the retail industry.

Baby formula and coffee are some of the most stolen goods and stores reported major losses in 2023.  

The BRC also reports that incidents against retail staff – including racial abuse, sexual harassment, physical assault and threats with weapons – rose 50 per cent in 2023.

Retailers need to be more aware and deploy more security solutions to deter criminals from continuing to offend in the same stores.

Research from Money revealed that supermarkets were victims of 54.6 per cent of shoplifting crimes, in comparison to 6 per cent for convenience stores in 2023.  

Affordable loss prevention   

A common misconception is that the most effective way to resolve this issue is to invest in expensive security systems.

However, small loss-prevention retail solutions are arguably equally effective in deterring criminals and making theft more challenging.

Whilst the need for increased security is undeniable, retailers shouldn’t rush to deploy loss prevention strategies that can be blunt when executed poorly and hurt the shopper experience.  

The impact of stolen goods 

Retailers are suffering from stock shrinkage because of increasing theft.

Store managers must build awareness of the commonly stolen goods, ensuring their in-store security solutions focus on key areas.

These products can be protected affordably and efficiently with the right POS display solutions to deter criminals from striking.

A reduction in the availability of popular products can see retailers lose significant sales, reduce customer satisfaction and lower loyalty levels. 

The simplicity of anti-theft POS display solutions 

In-store retailers can put shelving solutions in place to ensure potential criminals can only pick up a single product at a time.

High-shelf facings are simply installed, making it impossible for customers to snatch multiple products.

This simple solution saves retailers thousands and deters criminals from targeting the same store. 

Retailers’ arrangement of their shelves can deter theft and fixtures that promote visibility should be implemented throughout stores.

Stores must keep aisles wide and uncluttered to allow for full visibility to discourage shoplifters who opt to operate unseen.

Additionally, open shelving units allow for clear sightlines across stores in comparison to tall and closed-off units that create blind spots. 

Valuable items must be locked in place 

If products are locked in place, they are less likely to be targeted. Anti-theft security tethers come in all shapes and sizes and are retractable and adaptable in-store.

Metal tethers allow retailers to secure a wide range of products, maintain a visually appealing display and deter potential thieves effectively. 

One of the key advantages of security tethers is their versatility.

Anti-theft tethers can be used to secure a wide array of products, from electronics and power tools to perfumes and alcohol.

Their adaptability allows retailers to maintain an open and inviting display while keeping valuable items safe and protected. 

Retail solutions, such as retractable security tethers, protect high-value goods and create a safer, more inviting shopping environment.  

Guarding display hooks 

Products hanging on merchandise display hooks are an easy target for criminals. Retail solutions such as magnetic prong locks are a simple solution to stock loss.

Anti-theft prong lock utilises magnetic technology to secure valuable in-store items, preventing unauthorised removal.

Locks attach to existing display hooks, providing an instant upgrade to security measures and are designed to withstand the retail environment while providing long-lasting protection. 

Retailers can protect valuable assets such as print cartridges and shaver heads using magnetic release keys to remove magnetic prong locks quickly and easily from metal display hooks.  

Looking to the future 

As the cost-of-living crisis continues to escalate, shoplifting levels will rise.

Retailers must be prepared, but in their preparation, do not need to jump into investing in big tech for loss prevention. 

High-tech security systems are an expensive investment and although they produce the desired results, they are not always necessary.

POS and display solutions ensure store displays are safeguarded from potential theft at a fraction of the cost.

Retailers looking to fortify their product security should leverage these solutions to combat stock shrinkage.

Anti-theft POS and display solutions for loss prevention are a sustainable and simple solution to theft and reduce the need for expensive tech.

Simple and direct anti-theft POS and display solutions make a considerable impact and are often the difference maker when it comes to repeat shoplifting offenders. 

About Harrison Retail

Harrison Group is a leading Point of Sale partner for retailers across the globe.

With 28 years of experience, the company designs and manufactures innovative product displays and provides flexible, tailored solutions to help customers maximise sales and enhance shopper experiences.  

From shelf mounting and floor standing products to data strips and display hooks, Harrison produces retail solutions for any environment in its two UK warehouses and bespoke acrylic fabrication site.   

Harrison continues to push the industry forward by putting sustainability, design, and customer care at the heart of the business and are trusted by Morrisons, B&Q and Aldi to name a few. 

This article was originally published in the August Edition of Security Journal UK. To read your FREE digital edition, click here.