For as long as shopping carts have been stationed outside of retail stores, there has been an issue with those carts being stolen or otherwise going missing. While the problem of stolen shopping carts may seem like a minor issue, the reality is that stolen and missing shopping carts can be monumentally costly for retailers, municipalities, and shoppers.
An estimated 2 million shopping carts go missing in the US alone every year, but this escalates exponentially to an $800 million problem on a global scale. The issue threatens to worsen the economic stranglehold already gripping the country.
Cities have attempted to funnel taxpayer funds into the issue, with Fayetteville, North Carolina, spending $78,000 in an attempt to curb the cart issue. Under a similar program, Albuquerque, New Mexico, was able to retrieve 1,800 missing carts in just two months.
However, proactive solutions are necessary to truly solve the problem of cart theft. This is the approach that TRACARTS, creators of a new shopping cart management system, are taking. Their engineered, technology-informed solution is doing the heavy lifting in reducing the number of stolen and missing shopping carts, saving retailers and shoppers money and time while also collecting valuable data.
A smart solution to a costly problem
Retailers lose between $150-350 with each cart that goes missing or is taken from their property. Those carts often end up abandoned on roadways or in neighborhoods, contributing to blight and dangerous road conditions. When looking at the whole picture, missing and stolen carts are a costly problem that needs addressing.
Some retailers have tried charging a quarter for a cart, which the shopper gets back when the cart is returned. However, TRACARTS CAO Chaya Grosinger finds this approach only partially effective.
“Certain retail stores safeguard their shopping carts by requiring customers to pay a small fee, which is refunded when the cart is returned. In the U.S., this practice typically involves a quarter. You have to ask yourself, would you be willing to spend or risk losing 25 cents for a cart worth over $150? For most people who steal carts, the answer is yes,” Grosinger explains.
TRACARTS has emerged as a uniquely effective solution to the cart problem by combining technology and human psychology into one system. Installing a TRAC hub in their parking lot provides retailers with a system that easily and effectively tracks cart usage and locks them when not in use. The smart system incentivizes shoppers to return the cart when they are finished shopping.
By leveraging human psychology and the moral issue of cart returns, TRACARTS has created a system that works well for both retailers and shoppers.
The TRACARTS system
With the TRACARTS system, retailers install one, two, or three multidirectional lines of carts. These hubs are installed in parking lots for easy accessibility and short return distances. Shoppers will no longer have to weave through a maze of cars and abandoned carts to either retrieve or return their cart.
Through the tech-informed smart system, shoppers are incentivized to return their carts. This psychological approach is based on recent social discourse over the type of people who return shopping carts versus the kind of people who do not.
Many people may have seen social media memes or postings that have gone viral debating this issue. In today’s society, returning a shopping cart is considered somewhat of a moral litmus test. People want to do good and be good; therefore, when prompted to return their cart, they are more likely to complete the task.
The new patented TRAC retraction system manages the retailer’s shopping carts. The retailers’ existing carts lock into the TRAC Hub and are released when shoppers identify themselves through the kiosk. When shoppers finish their visit, they simply return the cart to the hub — no further interaction with the kiosk is required.
Incentives and analytics
The TRACARTS approach also gives the retailer extra customer incentives and valuable insights for the retailer. Through the TRAC app, retailers can engage directly with their customers, offering everything from discounts to VIP opportunities.
“We’ve created another means of positive customer engagement,” says Grosinger. The intuitive app allows retailers to build customer loyalty, extend special offers, and better understand customer behavior through customizable analytics.
Each TRAC dashboard can be customized per retailer and give insights such as how many carts are in use at one particular time and who is using the carts. Dashboards can be personalized for better employee management, user account management, and access rights.
As the costly issue of missing and stolen carts persists, innovative approaches such as the TRAC system will give retailers better options to save money, time, and frustration. By combining technology and the power of human psychology, TRACARTS is allowing retailers and municipalities to cut down on missing and stolen carts and increase customer satisfaction.