How to Prevent Theft: The Budding Problem in CBD Retail
Posted in Retail Spaces,Temporary Displays,Industry News
As sales rise throughout the CBD retail industry, so rises theft.
While it may have once been worthwhile to have your products proudly displayed for consumers to be able to grab at their leisure and bring to the register, more and more retailers are considering locked display cases.
According to the 2019 National Retail Security Survey, conducted by the National Retail Federation (NRF), more than half of all respondents say that organized retail crime is becoming more of a priority.
This is especially true for retailers in the CBD market, who are seeking a lockable solution as theft prevention.
The CBD Industry is Evolving
As the CBD industry continues to grow, companies are likely to start to fashion themselves in a similar light as big-box retailers. Traditionally, these companies may have been more inclined to design their storefronts from a health and wellness perspective with more of a holistic design.
But now, as the industry continues to shift and change, they’re acclimating themselves to fit more naturally into spaces as part of bigger brands, like Target, Walgreens, and CVS.
Why Lockable Display Cases?
Perhaps the biggest issue that CBD brands have is that these products, which are not inexpensive, are typically small; hypothetically speaking, it would be relatively easy for someone to come by, take a product off the shelf, and transfer it directly to his or her pocket. The lockable display case would allow for a given product to still be visible and attractive to potential consumers while removing one’s ability to make off with it.
In some cases, it may even be just the product packaging behind the locked display. The whole idea is to present something with a clear acrylic look and feel to garner interest in the product, but the whole display would have to be picked up if someone was intending to steal.
Lockable Displays in Action
Perhaps the greatest comparison for the CBD industry and its use of lockable display cases can be found in sporting goods retailers, like Dick’s Sporting Goods or Cabela’s. These stores typically sell high-end sunglasses, and consumers can browse a countertop display that has the sunglasses inside them, but a locked door on the backside. In order to try them on, an employee must unlock the case to show the glasses; it’s an effective method to displaying the product before the point of purchase.
Still, that requires patience and effort on the end of both the employee and consumer. Another effective method for sales via a lockable display case is to keep the product packaging in display, and then above it, keep stock resembling a business card that represents the type, amount, and the price point for the CBD product.
With this, consumers can skip the part in the process where assistance would be required, and just take one of the cards, that likely has a barcode on it, and bring it right to the register, where the transaction is made.
Adding lockability to a display is becoming more and more popular for retailers utilizing freestanding displays, and allows for some back stock to be kept near the product to simplify the purchase process. If theft is a growing concern for you as a CBD retailer, we can help you develop an efficient, engaging, and on-brand display to feature your products.
Download our free guide to learn how to take your CBD displays to the next level.