Tackling retail theft surge: Coveris uplifts UK security label production
26 Aug 2024 --- Coveris aims to fight shoplifting in England and Wales with R&D and innovation of its SourceTag brand.
Reducing costs, the number of SKUs and the need for secondary tag application, Coveris’ composite SourceTag labels integrate radio frequency or acoustic magnetic tags to provide a singular security label that works with existing electronic article surveillance antenna systems in store.
The tags are applied during the label manufacturing process to create a covert security solution, removing the need for secondary SKUs and in-store application. This is done without compromising brand or packaging application.
Furthermore, the security labels work with self-checkouts where most retail sales occur. With tags deactivated at sale, there are also major time savings at the point of purchase with no requirement for removal.
Tackling shoplifting and waste
Given the rise in theft and the volume required to counter the problem, Coveris is now investing in further capabilities and R&D to boost production, security formats and sustainable impact.
Nigel Hewitt, sales director at Coveris’ Paper division says: “We are working really hard alongside our retail and manufacturing partners to not only reduce in-store theft but also waste.”
“Compared to secondary tagging, our current SourceTag labels offer a more sustainable solution as well as reducing SKUs, cost, process and time. However, delivery of a fully sustainable solution is a pioneering development that we are looking to launch within the market imminently.”
Shoplifting as a rising issue
Shoplifting in England and Wales has recently hit its highest level in more than 20 years, driven by rising prices and the cost of living. With the British Retail Consortium announcing that cases have almost doubled to 45,000 incidents a day, the reported current cost to UK retail is around £1.8 billion (US$2.4 billion annually).
Retailers are now stepping up security measures to combat theft of higher-value food and non-food goods, including meat, cheese and beverages to minimize shrinkage and maximize on-shelf availability.
As a long-established manufacturer of loss-prevention label tags under its SourceTag brand, Coveris leads the market for composite security solutions, supplying all major multiples. Recent increases in retail demand however now mean that volumes are up more than 60% YOY to tackle in-store theft.
