Electronic Article Surveillance (EAS) System Market likely to grow
Posted by freemexy on May 16th, 2019
Projected to grow at a CAGR of around 3%, Electronic Article Surveillance System Market is to witness a significant growth over the forecast period owing to increasing retail shrinkage globally. Retail shrinkage has led to significant losses for many retailers. Increasing retail industry is expected to have a positive impact on the market growth. EAS system
Shoplifting techniques have also advanced in these years as thieves are finding ways to exploit the technology and steal the products smartly. This has encouraged many retailers to adopt highly sophisticated anti-theft techniques such as EAS systems to protect their products from shoplifting. EAS systems component consist of electronic antenna, deactivator or detacher and electronic tag. EAS tag is being used by retailers to prevent theft of products in retail stores or shoplifting of books from library. These tags are attached to products or books and are deactivated or removed when the item is sold out to consumers. This helps in enhancing the profit margin and operating efficiency of the retailers. EAS systems have EAS technology, which detects and sounds an alarm if the item with active tags passes through the gated area of the retail store. EAS systems reduce the cost of labor to be employed at stores for the purpose of preventing theft by customers.
EAS tags are ideal for delicate garments as they do no harm to the garment. It also helps retailers with brand enhancement of the product and simplifies management as retailers do not have to take measures to avoid the employees from stealing the goods. Customers feel at ease and comfortable at retail stores with EAS systems as employers do not stare at them while they shop. These systems threaten the thieves from stealing the goods. The theft rate of retail stores with EAS systems is 60%-70% lower than the non-EAS stores. Technological advancement in EAS system such as source tagging allows for smooth logistics flow as these tags are attached to the product at the point of manufacture and does not require manual labeling of merchandize, thereby saving time and money for the retailers. It also allows retailers to focus on sales rather than on preventing their goods from theft. However, recent discovery by doctors that EAS systems in stores can disrupt the pacemaker devices of the patients and can cause them to drop beats. This discovery is to hamper the EAS system growth over the forecast period. Moreover, high cost of implementing EAS systems pose a challenge to the Electronic Article Surveillance System Market.
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Joined: December 6th, 2018
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