GPS tracker: Merchandise monitoring
GPS trackers can be used for more that just vehicles these days. Studies show that shoplifting is quickly becoming out of control in America and GPS trackers could help. Retail Theft Barometer is the only global research team that puts together an analysis on the cost of shrink, comprised of shoplifting, employee or supplier fraud and administrative errors. The most recent survey conducted by this team found that, in America, forty three percent of employees accounted for lost revenue and traditional, customer shoplifters accounted for thirty seven percent.
It has been ingrained in all of us at some point, whether at school or through family values, that shoplifting is a crime. Retail loss is a grave concern, because this is one of the main reasons why stores have to raise prices. They have to cover their shrinkage in order to make profit. Many stores have already started using small, alarm devices on the outside of their merchandise to alert them when customers attempt to leave the store without paying for an item.
GPS trackers could be used for larger items of greater value by placing the devices inside the packages rather than on the outside the packages. This way, the packages could be tracked from shipping all the way to in-store placement. This will prevent employees from being able to shoplift the items prior to them being displayed in stores. Once merchandise is in stores, GPS trackers would be a great way to prevent items from “walking out the door.”
If merchandise did happen to make it outside the store without being paid for, GPS trackers could be activated to alert store management. In this way, it would be much easier to locate and recover items quickly. Imagine what the big sale weekends would be like if GPS tracking were monitoring all the large ticket items. When people pay for their items they could be tracked by serial number so as to maintain a list of what is no longer in inventory. The items bought and paid for would not need to be tracked any longer.
GPS trackers could not only deter employee and customer shoplifting, but they can help with the store’s bottom line.