Did you know there are plenty of strategies and tools available to increase your profit margins? One of the most effective approaches is preventing theft before it occurs. You might be thinking, what more do you need if you’re already using an EAS system and hanging anti-theft signage. You need to make sure those tools provide you with a positive ROI. If they aren’t, you might be spending more money than you’re saving.
So, whether you operate a supermarket, fashion boutique, or liquor business, there are retail loss prevention systems available that can provide you with a significant return on your investment.
Calculating Your ROI
Before you begin to determine your loss prevention strategy’s ROI, review your current inventory losses. You’ll need to refer to these numbers when comparing the possible solutions to your initial investment.
Once you have the above data, five factors to review to help you calculate an ROI before you upgrade or purchase a loss prevention system or device.
- Compare the product’s cost to your current losses
- How much will it reduce your losses in 1 year?
- How much will it reduce your losses in 3 years?
- How much will it reduce your losses in 5 years?
- What is the lifespan of the product or device?
- One day
- Several months
- 3+ years
- What products are compatible with the loss prevention device?
- Can you only use it on a specific item?
- Can you interchange it with several products?
- Who will be responsible for adding the device to merchandise?
- If your staff is responsible for applying the product, what’s the time investment to add and remove it?
- i,e., is the product complex to learn/use?
Here’s an example using the above criteria. If you’re looking to upgrade your current EAS system, you’ll review the latest models available to see which system meets your needs. Once you select a system, compare its initial cost (purchase, delivery, and installation) to your current inventory losses. That data will help you learn when the product will pay for itself and how it can save your business money from reduced losses.
3 Retail Loss Prevention Systems and Products with the Highest ROI
Now that you have a better understanding of how to evaluate an item’s ROI, here are three retail loss prevention systems and devices that offer a high return for your investment.
1. A Ceiling Overhead EAS System with RFID Technology
Nedap designed an EAS retail loss prevention system that you can easily install without requiring any structural work to the ceiling. This system offers several benefits, including:
- High-performance RFID antennas
- Stray tag filtering
- Meets global standards and compliances
- Remote support
2. Bottle Security Locks
These uniquely designed locks are made to protect energy drinks, baby formula containers, ice cream pint containers, and liquor and wine bottles. Several sizes are available and can be used interchangeably for this high-theft merchandise.
Whether you need hard or soft tags, both items are available in many styles to fit your needs.
- Discrete designs that won’t distract from the product’s packaging
- Designs with a strong visual deterrent to discourage thieves when they enter the store
Source Tagging or In-Store Tagging Options
- Reusable tags
- No removal processes
Benefit Denial Devices
- Ink tags
- Ink pins
Work with the Experts to Calculate an ROI
The Product Protection Solutions (PPS) team helps businesses of all sizes find retail loss prevention systems and devices that fit their needs. In addition, our team will assist you in finding the best devices for your needs and help you stay within budget.
Connect with our team online or by calling 866-750-5744.