To catch a thief - How three companies are taking micro market security to a higher level

Vending & OCS Nation Podcast

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 who 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, there are over 42,000 active micro markets being operated in the US. 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 and generally speaking, operators have it under control. Those three companies that are 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 catching a thief. Today, they can offer hard evidence that theft is an inherent issue in micro markets and unless strong deterrents are in place, along with effective communication – shrink happens in a big way.

While this podcast takes a deeper dive into the issue of micro market theft and efforts to deter it, many of the interviews were also conducted for the Automatic Merchandiser article that Tullio wrote for the magazine’s upcoming November, “Protecting your investment - A technology driven approach to mitigating micro market theft.”