Reducing Shrinkage for Higher Sales

2 Minutes Read

Did you know that the average shrink rate in 2022 was 1.6%, resulting in losses amounting to $112.1 billion? During fiscal 2022, more than 30% of retail brands in the US experienced inventory shrinkage of 2% or higher…

Protecting high-risk, high-value products such as electronics, gaming, health & beauty, and spirits while maintaining sales and a positive customer experience has been an ongoing challenge for retailers.

Traditional methods like tagging, guarding, and locking products away come with significant costs and negative consequences for retail operations. Customers who value convenience and quick service may not remain loyal if they encounter delays caused by security measures. Moreover, these security tactics increase selling costs and place undue pressure on store staff to provide exceptional service.

Introducing Signifi Solutions: A Smart, Agile Solution for Retail Loss Prevention

Signifi Solutions is a leading provider of asset management and retail loss prevention solutions. Our solutions are designed to handle a wide range of high-value and fragile products in aisles and on shelves. Our units dispense items only after payment is confirmed, eliminating the need for expensive security tags and personnel to unlock cabinets.

The immediate benefits of our innovative approach are numerous:

  • Enhanced Visibility and Accessibility: Products are prominently displayed to consumers, which encourages sales.
  • Increased Sales, Reduced Loss: The risk of theft and damage is significantly reduced or even eliminated.
  • Minimal Staff Interaction: Our systems require little to no staff involvement, and the need for costly tagging systems is eliminated.
  • Holistic Customer Journey: We provide end-to-end solutions that enhance the overall customer experience.

ROI That Speaks Volumes:

Our solutions are designed to drive results, with an average 6% increase in basket size and a remarkable 92% reduction in shrinkage for products managed by automation.


Reducing Shrinkage while Selling High-Risk Products

In addition to the immediate benefits, Signifi Solutions offers a wide range of features aimed at reducing shrinkage while selling high-risk products. Key aspects of our solutions include:

  • Secure Product Display: Our systems undergo rigorous penetration testing to ensure robust security.
  • Future-Proofed: They can be seamlessly integrated into fixtures for long-term viability.
  • Controlled Access: Products can only be dispensed during trading hours, ensuring security.
  • Automatic Inventory Control: Precise tracking of inventory through controlled access and recorded stock levels.
  • Controlled Dispensing: Product volumes and quantities can be regulated using single-burn QR or barcodes, streamlining stock investigations.


Colleague Safety and Customer Experience:

Our solutions enhance colleague safety by visually securing displays, offering live alerts for stock replenishment or tampering, and providing optional built-in cameras. They maintain legal compliance, simplify investigations and guarding, and incorporate safety features such as screen-safe and UV lights to reduce the spread of bacteria. Contactless operation further eliminates the risk of login theft.


Store Efficiency:

By combining product sales into existing self-service areas without additional labor costs, our solutions create new self-service sales opportunities across multiple categories. The need for expensive security tagging and de-tagging equipment is reduced, and facing up and replenishment tasks are optimized.


Reducing Wait Times, Increasing Customer Satisfaction:

While turnaround times for locked-up items can range from 15 seconds for a car vent air freshener to as long as 3 minutes and 20 seconds for laundry, Signifi Solutions minimizes wait times by securing and dispensing valuables in the same place. This reduces store staff requirements and increases client satisfaction, ultimately transforming the retail experience.

Signifi Solutions is your partner in the quest for efficient, secure, and profitable retail operations. With our advanced and intelligent solutions, we redefine the balance between sales and loss prevention, making it possible to achieve both

Contact us to know more.