Trolley thieves beware. Woolworth has launched a new mobile application that will allow people to report a lost trolley via GPS. The retail store giant hopes this move will reduce the $50 million lost every year in trolley collection and replacement costs.

According to Techworld, the app was developed by Trolley Services Australia which uses the phone's inbuilt GPS systems to locate the lost trolley. The app will work in conjunction with Trolley Services Australia's Trolley Tracker hotline and website. The app can run on the iPhone and Android based smartphones.

This initiative by Woolworth's comes as part of the store's efforts to tighten its store operations. It has recently started offering retail mobile services and adding BPM to the company's supply chain system.

Lost trolleys are not only Woolworth's problem but they are a nuisance to neighborhoods who have stolen trolley littering their streets. Customers who are diligent enough to report stolen trolley will not only rid their street of the offending trolley but they will have a chance to win a monthly $1000 reward. Users will need to swipe their smartphone and the exact location of the trolley will be sent to a Woolworth's trolley collection team.

Woolworth will need to do a lot of convincing to get this initiative off the ground. Users will have to register on the app and give their phone number to the Woolworth's website. The installation will be completed after a message from Woolworth is received by the phone. The $1000 reward might not be enough for users to go to all the trouble of registering and reporting missing shopping trolleys.