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Technology can help small retailers to compete and grow

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“Security solutions play a significant role in the growth of retail business. Small retailers, especially the mom-and-pop stores, cannot calculate losses that they may be facing due to shrinkage, and they do not have specific solutions to control in-store thefts. Now, looking at the competition that these store owners are facing from the modern retail chains, they must adopt technology solutions that will not only help in controlling shrinkage, but will also help them modernise themselves,” said Geoffrey Foo, manager of EAS/Retail Security at Tyco Fire & Security India Private Limited, while talking to Indiaretailing on the sidelines of a seminar on loss prevention in retail.

Foo said that though some technology solutions might look expensive to implement, they are priceless when considered in the light of business security and growth that they can offer. Small retailers in the country understand their customers, and must start implementing techniques that can help them retain their loyal customer base. Security solutions are one such key that will help them compete and sustain in the booming organised retail environment.

“At Tyco, we can provide customised solutions to all retailers depending on their needs and can also, to an extent, upgrade technology that is already being used at their stores,” informed Foo.

Tyco has also developed various security solutions that not only help in strengthening security in the store, but also help other business verticals. The integrated security system can generate significant data for marketing team, can help in better administration, and is also useful for HR department.

“The shrinkage rate at modern retail outlets is on the rise. We, at Tyco, are in the process of providing solutions that not only help in shrinkage prevention, but also in business generation. Our products are operational at leading retail destinations in the country, and are being appreciated for solving complicated problems and for being in sync with the present-day retail environment,” added Foo.

– Ranjan Kaplish

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