Shoplifting is a curse in retail, especially in small business retail where the emotional toll of shoplifting can be debilitating for the retail business owners, even more so than the financial toll on the business itself.
What is shoplifting? Shoplifting is the theft of inventory or other items or even cash from a business by a shopper.
Tower Systems offers smart POS software that is helping retailers reduce shoplifting. The software works by tracking inventory and sales data, which helps store owners to identify patterns and trends. This information can then be used to loss prevention strategies.
The Tower Systems software has been proven to be an effective tool in reducing shoplifting. In one case study, a retailer who installed the software was able to reduce shoplifting by 50%. The POS software does this by helping retailers to understand what is being stolen and to narrow the time window of the theft. This information is key to reducing the cost of shoplifting.
In most instances, what is being stolen through shoplifting is different to what retailers thing is being stolen. Shoplifting data is key here.
This data-driven approach to reducing shoplifting is helping retailers save money and increase margins. In one case study, a retailer who installed Tower Systems’ smart POS software was able to reduce shoplifting by 25%. That’s a significant improvement that can have a big impact on the bottom line—especially for small businesses.
The smart POS software is easy to use and can be installed on any computer or mobile device. It is also reasonably priced, making it a good option for small businesses.
Retailers lose billions of dollars every year to shoplifting, but there is hope. The Tower Systems smart point-of-sale software offers a retail security solution that can help retailers reduce shrinkage (the industry term for lost inventory due to shoplifting).
If you are a small business owner, you should consider using Tower Systems to help reduce shoplifting.
Using cutting-edge technology, the system tracks inventory in real time and sounds an alarm if someone tries to leave the store with an unpaid item. The solution has already helped hundreds of retailers reduce shrinkage.
The software is easy to use and an effective way to track inventory and sales data. This information can then be used to develop loss prevention strategies.
Note: employee theft is a form of shoplifting, but considered differently to shoplifting itself.