The problem of shopping cart theft is as old as the shopping cart itself. According to the Food Marketing Institute, approximately 2 million shopping carts are stolen or simply go missing every year, leading to substantial monetary losses for retailers that trickle down to the everyday consumer.

The escalating cost of living is a growing concern not only for consumers but also for retailers. While stolen carts may not be making regular headlines, they are a costly issue that threatens to worsen the economic strain that has already taken hold, with entire municipalities now getting involved in the missing cart problem.

Recently, the city of Fayetteville, North Carolina, earmarked $78,000 of taxpayer funds to tackle the cart problem and used the money to round up as many missing carts as possible over a two-year period. Albuquerque, New Mexico, ran a similar program, retrieving over 1,800 carts in just two months.

Missing and stolen carts create economic hardship, issues for consumers, and blight for cities. Thankfully, TRACARTS is a company stepping forward with a technology-informed solution, working to significantly reduce the number of carts that are stolen or otherwise go missing every year and save retailers time and money.

The cost of wayward carts

With each cart taken from a retailer, that retailer stands to lose upward of $180. Yet the millions of carts that go missing each year are a significant hit to not only the retailer but also the shoppers because when retailers seek to recoup funds lost due to missing and stolen carts, they are often forced to raise their prices.

TRACARTS has considered the human element of the cart problem with its system. In fact, the psychological aspect of the TRACARTS system is likely why it works so well.

“There are those retail stores that protect their carts by charging money from customers, who get a refund once their cart is returned,” says Chaya Grosinger, Chief Administrative Officer for TRACARTS. “In the U.S., this security measure is utilized with a quarter. If you wanted a cart, would you be willing to spend or lose 25 cents for a cart that costs upwards of $180?”

There is also an altruistic side to the cart problem that TRACARTS is leveraging. Recently, the question of whether one returns a cart after use has become a social media test of moral righteousness. The general consensus seems to be that “good people” return carts, while those who don’t face society’s harsh judgment.

This litmus test is part of TRACART’s multifaceted approach to solving the missing cart problem. TRACARTS is betting on the good feeling that comes from returning one’s cart.

A tech-informed solution

Along with psychology, TRACARTS is also using technology to address the issue of missing and stolen carts. They know that the psychological pull of a “good deed” may not be sufficient to truly address this costly issue, so the solution must be multifaceted.

The user-friendly TRACARTS system makes it easy to track and secure shopping carts while they’re in use and when they are returned. The TRAC hub — a series of customizable shopping cart trains arranged in one, two, or three multidirectional lines — can be installed in any retail store’s parking lot. Strategic placement of the TRAC hub allows for easy access to the carts without having to weave through parked cars.

When the carts are not in use, the TRAC system locks them into place. They can be released through the system’s smart technology program, with the TRAC kiosk acting as the customer interface that dispenses or accepts them. Shoppers can use a White Label app, a fob, a PIN code, or a phone number, among various other identification forms, to release the carts.

Returning the carts is hassle-free. Shoppers simply place the carts back into the TRAC hub without further interaction with the kiosk.

The integration of smart technology is another facet of the TRACARTS system that makes it stand apart from other solutions. It provides retailers with valuable data analytics and ways to engage with their shoppers. TRAC dashboard is entirely customizable, allowing it to meet the specific needs of different retailers depending on what date they are interested in collecting. Shoppers are incentivized to return their carts and given access to special promotions, such as VIP discounts and rewards, culminating in a positive shopping experience for both the shopper and the retailer while also gamifying the cart return process.

While the issue of stolen and missing carts will not vanish overnight, TRACARTS is deploying advanced technology, social consciousness, and psychology to help retailers save time and money. As more retailers realize that this problem will not simply go away on its own, they will turn to solutions like TRACARTS to help them manage their cart inventory and make shopping at their stores a more pleasant experience.