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Oct 09, 2019
The NRF reports around 60% of total shrink (48.6 billion per year) is due to external and internal theft. Statistics also show those who implement loss prevention strategies have less shrink and more profitability. Below are two examples showing how Key-Rex® can act as your first line of defense against retail theft.
This music store keeps their brass cymbals locked down using a mount secured with our Key-Rex®. This retail chain buys multiple Key-Rex® codes and spreads them randomly throughout their stores. Employees know only their screwdriver will work in their store and won't in other local chains. Corporate keeps track of which screwdriver goes with which screw by the head-markings we etch on the top of the head. It seems like a lot of work, but it's actually easy for Bryce Fastener to custom code our customers' screws. Our ability to make different Key-Rex® drives and head-mark each one helps in providing another layer of protection against internal/external theft for this retail chain.
Here's another example from a downtown cell phone store in New York. Key-Rex® is securing the cell phone mounts. I, (Bryce) asked the store manager if those cell phones ever get stolen, he replied, “Never.”
Are your loss prevention methods working as well as these two retailers' methods are? Which of your high-priced items are left vulnerable to theft and hurt your bottom line? Finding simple ways to add extra security layers to items most prone to theft will reduce external/internal theft and save your bottom line. Contact us if you're interested in upgrading your retail security products/strategies.