The Intercept Lock has been designed around ProTeqt Technologies’ security technology, which is being previewed at the 2013 Consumer Electronics Show, being held in Las Vegas this week.
The technology targets still growing retail crime, which includes shoplifting, employee theft, organized retail crime and gray market imports which has a significant impact on brand owners.
Target stock shrinkage
In the case of the personal care, cosmetics and fragrance industry, luxury brands are often a target for these kind of thefts and account for a significant amount of stock write-offs every year, known in the retail market as ‘shrink’.
The shrinkage is estimated to equate to $120 billion in lost stock worldwide and an estimated loss of $35 billion in the US alone.
The Intercept technology has been designed around a wireless-enabled lock, which is placed on the product, and effectively disables the product’s functionality until the lock is deactivated.
Easy to incorporate into the retail process
The deactivation process is carried out using the ProTeqt Technologies receiver system, which can easilty be combined into the retail check-out process.
The makers say that if the product is not legally purchased and the technology deactivated, then the thieves will end up with a product that is useless.
“For decades, retailers tried to stop loss by using cameras and exit alarms that both employees and thieves have learned to ignore. Retailers then turned to limiting access to products, putting them in plastic boxes, locking them on peg hooks or in cabinets,” said David Miller, global director of MWV’s Security Packaging Systems.
“These solutions annoy customers, reduce sales and cost retailers millions of dollars to operate. Retailers and brand owners have been challenged to find a solution that balances security with the need for open merchandising. MWV’s Intercept is that solution.”