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In fact, in the 2022 National Retailer Security Survey from the National Retail Federation (NRF), nearly nine in 10 respondents said analytics, and store and business intelligence, are what’s needed most to help fight shrink and bolster lossprevention teams. billion in losses, an increase from $90.8 billion in 2020.
The cloud opens the doors to new efficiencies and reduced loss, especially when you consider the retail operations that include hundreds (if not thousands) of stores across a distributed network of stores and corporate headquarters. Securing and capturing camera and sensor data is only the first step.
Over the past several months, retailers have experienced challenges and changes they thought they would never see in 2020. This helps online retailers capitalize on the added benefits of reduced cart abandonment and customer frustration during checkout that impacts brand loyalty. Secure Foundations. He is an active member of the U.S.
Many retailers expect to deploy lossprevention analytics (49%) and demand planning and forecasting (54%) by 2026. While omnichannel shopping causes challenges for retailers, most shoppers prefer options. The Zebra study indicates 36% of retailers believe better analytics on shrink could help drive profitability.
But backrooms filled up, investment money dried up, inflation cut into consumable income, workers sought to organize and lossprevention became a top-of-mind concern. In California, Amazon-owned Whole Foods stores launched palm-scanning technology at checkout. Happy New Year. INFLATION ON. YOUR MIND. OF YOUR HANDS. BEYOND AWFUL.
According to Digital Commerce 360 , American consumer online spending in 2020 increased 44% to $861 billion. The instant a customer hits the checkout button the AI technology evaluates every viable fulfillment option and recommends the optimal choice. Now, e-commerce is no longer on the retail periphery.
Major retailers survived 2020 by transforming how they got their products into customers’ hands. At checkout, the shopper would have multiple fulfillment options to select from – including BOPIS. The rise of at-home delivery forced lossprevention managers to start looking beyond the store.
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