From day one, theft has been a concern for micro market operators. Watching hours of video, or taking a time-consuming and perfectly executed market inventory, are two ways to establish whether theft is occurring. But then what? Proving your case to the client and gaining their support is the difficult next step.
In this episode of Automatic Merchandiser’s Vending & OCS Nation podcast, host Bob Tullio talks to three companies that use advanced technology, including AI, to identify theft as it happens and make it easier for operators to have that difficult conversation about product theft with their customer. The goal is better communication, cooperation, deterrence and, in some cases, compensation.
According to the 2023 Automatic Merchandiser State of the Industry Report, more than 42,000 active micro markets are being operated in the United States. Since the very first micro market was placed over a decade ago, product theft, aka “shrink,” has been an active topic of conversation — and an ongoing challenge for just about every operator.
In that same study, operators were asked to identify their average level of micro market theft. While 3% optimistically said they were at a 0% shrink, the vast majority fell into the 3% to 7% range.
One might conclude from the report that the shrink situation isn’t that bad; generally speaking, operators have it under control. Three companies using advanced technology to monitor security and catch thieves in micro markets would beg to differ. Panoptyc, ProWatch Solutions and Theft Detective have all experienced different journeys on their way to catch a thief. Today, they can offer hard evidence that theft is an inherent issue in micro markets. Unless strong deterrents are in place — along with effective communication — shrink happens in a big way.
Editor's note: Micro market theft and efforts to deter it are also the focus of the November/December 2024 issue of Automatic Merchandiser magazine.
