MWV Introduces InterceptTM - Security Packaging Solution Boosts Sales and Deters Theft
MWV Introduces InterceptTM- Security Packaging Solution Boosts Sales and Deters Theft
On-product lock renders products useless until wirelessly unlocked at point-of-sale
RICHMOND, Va.--(BUSINESS WIRE)-- MeadWestvaco Corporation (NYSE: MWV), a global leader in packaging and packaging solutionsannounces the launch of Intercept, a groundbreaking security solution that promotes open merchandising while protecting products against theft throughout the supply chain. The Intercept lock utilizes ProTeqt Technologies' proprietary security technology. MWV is introducing Intercept during the 2013 Consumer Electronics Show in Las Vegas from Jan. 8 - 11, 2013.
Shoplifting, employee theft and organized retail crime are epidemics that have far-reaching effects on retailers, brand owners and consumers. Retail "shrink" (loss) equates to $120 billion globally, including over $35 billion in the U.S.
"For decades, retailers tried to stop loss by using cameras and exit alarms that both employees and thieves have learned to ignore. Retailers then turned to limiting access to products, putting them in plastic boxes, locking them on peg hooks or in cabinets," states David Miller, global director of MWV's Security Packaging Systems. "These solutions annoy customers, reduce sales and cost retailers millions of dollars to operate. Retailers and brand owners have been challenged to find a solution that balances security with the need for open merchandising. MWV's Intercept is that solution."
Intercept features a wireless-enabled lock placed on the product, such as in the micro USB port on a mobile phone. The Intercept lock disables the product's functionality until the lock is deactivated utilizing ProTeqt Technologies' system during check out. If the product is not legally purchased, thieves end up with a worthless product.
Intercept is the only solution that provides retailers and brand owners with the security they need to combat all forms of theft, including shoplifting, organized retail crime and employee theft. It allows consumers to fully interact with the products in-store, and take their purchase straight to the check-out register. This solution is particularly helpful for retailers and brand owners that offer high-value products that are the target of thieves, such as consumer electronics, office supplies, video games, pharmaceuticals, jewelry and accessories, fragrances and other personal care products. The system's flexibility allows it to protect almost any category of product offered at retail.
"Through our years providing strategic security packaging solutions, MWV understands the delicate balance of marrying retail accessibility and protection," says Jeff Kellogg, vice president of MWV's Consumer Electronics and Security Packaging Systems division. "In-store product interaction is key in the consumer's path to purchase, and Intercept is the first security system that neither interferes with that experience nor sacrifices product protection."
"Intercept will help facilitate open merchandising, decrease theft and improve retailers' and brand owners' bottom line," said Kellogg. "This solution provides retailers and brand owners with peace of mind that their products will be safe without sacrificing consumer access."
Intercept will be featured in MWV's space at CES, Room S218. More details about the benefits and product features are also available at www.mwv.com/ces2013.
MeadWestvaco Corporation (NYS: MWV) is a global packaging company providing innovative solutions to the world's most admired brands in the healthcare, beauty and personal care, food , beverage, home and garden, tobacco, and agricultural industries. The company also produces specialty chemicals for the automotive, energy, and infrastructure industries and maximizes the value of its land holdings through forestry operations, property development and land sales. MWV's network of 125 facilities and 16,000 employees spans North America, South America, Europe and Asia. The company has been recognized for financial performance and environmental stewardship with a place on the Dow Jones Sustainability World Index every year since 2005. Learn more at www.mwv.com.
About ProTeqt Technologies
ProTeqt Technologies, Inc. is an innovator of security solutions for the global retail industry, and develops advanced technologies that protect merchandise throughout the retail supply chain, from point of manufacture through point of sale. ProTeqt's patent-pending technology helps brand owners and retailers increase sales, while reducing theft, counterfeiting, and supply chain diversion. ProTeqt is based in Franklin, Massachusetts. For more information, please visit www.proteqt.com.
Rachel Kaplan, + 1 804-382-3609 (M)
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