As thieves become bolder, now is not the time to batten down the hatches and accept shrinkage as an unavoidable consequence of the retail industry.

Shoplifting is a serious problem and can have a real impact on profits. In 2009 shrinkage cost the UK a staggering £4.88bn, making it the worst country in Europe for theft.

As thieves become bolder, now is not the time to batten down the hatches and accept shrinkage as an unavoidable consequence of the retail industry.

Theft can have a huge impact on profits and needs to be addressed - not ignored.

Retailers have one thing in mind when tackling shrink management - how to detect and prevent theft while creating an environment that encourages customers to shop freely.

It is essential that they respond with sophisticated methods of protection that not only prevent thieves getting away with the merchandise but also deter the attempted theft in the first place.

Highly advanced electronic article surveillance (EAS) systems improve detection rates and give store employees greater confidence in their security systems’ accuracy and responsiveness. Subsequently, staff can work more efficiently and focus on what matters most - selling.

A committed and integrated approach is essential to ensure shoplifting statistics do not overtake sales figures. So, by utilising the latest technology, such as EAS and the associated product protection methods, retailers can tackle the challenges caused by shrinkage head on.

Neil Matthews is vice-president of NCE Europe, Checkpoint Systems