Lowe's Implements Tech Solutions to Combat Power Tool Theft

Lowe's is implementing RFID technology in power tools to combat theft at its stores. The technology will make the tools inoperable until they are scanned and purchased, deterring theft and organized retail crime. This move comes as retailers face increasing challenges with inventory shrink, including theft and organized retail crime. The retail industry has been grappling with this issue, with the National Retail Federation reporting that retail-industry shrink amounted to $94.5 billion in 2021.