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Loss prevention systems significantly reduce loss rate. Retail industries are vitally important to the Australian economy, contributing almost 11% to the nation’s economy when combined with wholesale industries. With shoplifting costing Australian retailers $2.3 billion annually, it's no wonder shoplifters are not only a problem for the success and survival of small businesses, but also a problem for the economy as a whole. Reports from the media and Australian Institute of Criminology also found that; - 2-5% loss of sales to shoplifting can amount to a 25% loss in profits.
- Australia is suffering one of the highest increases of shrinkage and theft levels in the world.
- The collapse of many small businesses in Australia could be contributed to the inability to identify shrinkage and stem it at its tide.
More alarming is the fact that only 2.5% of retail theft is witnessed and the average shoplifter is - Middle class
- Educated
- A regular customer
- And more likely to be a retiree or white collar female than a teenager
Considering these facts, it's no surprise even the most vigilant and well trained staff have trouble knowing who and what to look for. It’s for this reason that retail security is so important for your business. Proved to cut external theft rates by up to 80%, security solutions such as EAS have become a best friend to retailers wanting to protect their products and maintain profitability. Easy to implement and simple to use, Vitag’s EAS products have kept up with the latest technological advancements, therefore they can offer your business the latest and most effective products and solutions on the market.
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