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RFID to Play Large Role in Fight Against Shoplifting

RFID promises enormous improvements in theft prevention that will curtail the $10 billion the retail industry loses every year to shoplifting.
Aug 31, 2004This article was originally published by RFID Update.

August 31, 2004—According to a study conducted by the University of Florida, even with the retail industry spending 0.5% of gross revenues on theft prevention, $10.7 billion is lost annually to shoplifting. The industry expectation is that not only will RFID radically reduce this staggering amount, it will do so in a manner less intrusive to customers than current anti-theft methods. Despite this optimism, privacy concerns and the still-high cost of radio frequency identification mean that such theft prevention nirvana is still a few years off.

Read the article at BusinessWeek Online
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