ADT Security recently hosted two retail symposiums in Sydney and Melbourne providing attendees with details about new international developments in industry trends, best practice and available new tools directly from US industry experts.
Mark Norton, General Manager, ADT Security, launched the proceedings at both events introducing the two Tyco Safety Products guest speakers who discussed source tagging and the future of loss prevention.
Mary R. Martin spoke to guests about the current global source tagging status and trends; success factors and best practices from leading retailers and real life retail and manufacturing processes for source tagging.
She also provided information about the Sensormatic range of source tagging products, exclusively supplied by ADT Security, and how Sensormatic incorporates source tagging into its Smart Electronic Article Surveillance (EAS) system.
Speaking about the current global source tagging status, Martin explained that today, over 4,000 suppliers provide source tagged products to more than 400 retail chains globally and that in 2006, over 4.2 billion items were source tagged.
With continued advancement in technology there is a vast array of source tagging options to suit every retail business.
With the right source-tagging solutions we are helping retailers reduce shrinkage while helping to increase sales and profits. This can come from having the security to merchandise goods openly, in high-traffic areas, or by ensuring merchandise is protected prior to even arriving in the store. This prevents internal theft and further reduces shrinkage.
Anthony D’Onofrio addressed the latest global retail industry trends shaping the direction of technology implementations; the latest shrink information and updates on security technology; and the business intelligence tools that are being used by retailers to shrink and improve store operations.
D’Onofrio has over 25 years experience in retail security and information technologies and is Vice President of the Marketing and Global Sales Channel Support for the EAS/RFID Strategic Business Unit of Tyco Safety Products. He oversees the strategic marketing and product direction of Sensormatic branded solutions around the world.
D’Onofrio predicted that the next few years are likely to see an aggressive embrace of security/IT convergence and a data collection platform for corporate business intelligence.
With the growth of niche retailing and the proliferation of customer touch points, retailers will have more data points than ever over the coming years and they will use this information to do business in ways that are customer-centric rather than operations-centric.
Innovation is one true sustainable driver of growth and effective innovation integrates an understanding of how consumers live, how they buy and how they use the products they buy.
By 2015, mass production will be replaced with limited production and rapidly evolving portfolios of niche concepts. Retailers will offer new combinations of products, experiences and services that let shoppers express themselves and increasingly, innovation will take place at the point of purchase, by enabling customisation and personalisation.
D’Onofrio also demonstrated the capabilities of Retail Expert’s Profit Navigation Systems – a reporting application designed to reduce cashier and point of sale losses.
The NaviStor/Point of Sale feature provides easy-to-create exception rules for identifying and fixing problems before they create shrink and lost sales.
Guests from a large number of retail sectors including grocery, hardware, electrical, automotive, optical, department stores, sportswear, fashion as well as the supply chain, attended the event.