Innovative Program Pinpoints Shrink Data to Optimize Profitability
NEUHAUSEN, SWITZERLAND--(Marketwired - Mar 30, 2016) - Tyco Retail Solutions (www.tycoretailsolutions.com) today announced the debut of its Source Tagging as a Service (STaaS), a data-driven merchandise protection program to maximize the value of retail source tagging initiatives. Retailers have limited time and staff to manage EAS programs. Now with STaaS, retailers can rely on Tyco to oversee their entire EAS tagging program to help increase sales, solve shrink issues, and optimize store labor. With 20+ years of source tagging leadership, Tyco designs and executes turnkey source tagging programs that deliver strong bottom line results.
Through systematic analysis of retailers' data, Tyco pinpoints key enterprise shrink trends by department, category, vendor and UPC to identify high shrink items. Tyco compares the results to retailers' existing item protection strategies for maximum payback. After conducting extensive store audits, Tyco specifies items to be tagged, certifies optimal tagging placement, and supports engagement of suppliers. Monthly one page dashboards track progress and program compliance to predetermined success metrics.
With Tyco's STaaS, retailers have actionable data to make sure the right items arrive protected and ready for immediate placement on the floor. Tyco's data-driven approach and category management expertise allows retailers to merchandise products with confidence, while refocusing associates to serve customers and drive sales. Leading mass merchants using Tyco's new source protection service have reported double-digit increases in sales and double-digit decreases in shrink.
The net result is sales are up, shrink is down and customers are satisfied.
Tyco's new service provides multiple benefits, including:
Enhanced Shopper Experience:
- Enables theft prone goods to be openly merchandised and accessible
- Frees associates to serve customers versus tagging goods
- Speeds throughput at the POS with consistent and proper label placement
- Increases velocity of items to selling floor
- Maximizes merchandising effectiveness of theft prone goods
- Prevents obscuring of brands or vital product information, as EAS labels are placed inside packaging
"Our team of uniquely qualified experts analyzes and designs customized data-driven action plans so retailers can maximize the benefits of their source tagging program," said Tony D'Onofrio, Vice President of Marketing, Global Accounts and Source Tagging for Tyco Retail Solutions. "Retailers are achieving solid ROIs from our innovative service, resulting in higher sales, lower shrink and happier customers."
STaaS builds on the success of Tyco's industry-leading source tagging program, which has protected nearly 60 billion consumer products and apparel items worldwide. In 2015, Tyco source tagging achieved a fifth consecutive year of growth as more retailers embraced both traditional tagging and recirculation of reusable hard tags. Source tagging with Tyco's dual technology EAS and RFID hard tags also enables retailers to gain vital item-level visibility and connection to the Internet of Things (IoT).
Learn more about Tyco Retail Solutions' Source Tagging program.
About Tyco Retail Solutions
Tyco Retail Solutions is a leading provider of integrated retail performance and security solutions, deployed today at more than 80 percent of the world's top 200 retailers. Customers range from single-store boutiques to global retail enterprises. Operating in more than 70 countries worldwide, Tyco Retail Solutions provides retailers with real-time visibility to their inventory and assets to improve operations, optimize profitability, and create memorable shopper experiences.
The Tyco Retail Solutions portfolio for retailers is sold direct through Tyco businesses and authorized business partners around the world. For more information, please visit TycoRetailSolutions.com or follow us on LinkedIn, Twitter, and our YouTube channel.
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