article thumbnail

The Boon and Bane of Self-Checkout for Retailers

Retail Wire

Retailers appreciate the allure of self-checkout. However, the elevated rate of inventory shrinkage is a pressing concern in the retail industry.

Checkout 276
article thumbnail

Co-op lost £70m to shoplifting in 2023 as it uses AI to stop self-checkout theft

Retail Gazette

Retail crime cost The Co-op £70m last year, according to food managing director Matt Hood, as the mutual turns to AI to stamp out theft at self-checkouts. Hood said despite evidence pointing to the fact that self-checkouts do lead to an increase in shrinkage, he would not strip them out of stores as they make “convenience more convenient”.

Checkout 126
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Sick of hearing about AI? The key is understanding how to make it work for you

Inside Retail

Loss prevention: AI combats retail shrinkage also, by integrating computer vision and motion analytics at self-checkouts, detecting suspicious activities and ultimately reducing theft. Automated checkout experiences: Retailers such as Apple are pioneering checkout-free shopping.

article thumbnail

Data and security have become key competitive advantages for all retailers

Inside Retail

They are looking at things like speed and convenience, and self-checkout has become commonplace in all supermarkets and convenience stores today. He believes AI-powered computer vision technology used to reduce shrinkage will help identify instances of customers swapping cheap items for expensive ones by changing labels.

Shrinkage 130
article thumbnail

Smaller Spaces, Bigger Tech and Optimized CX

Retail TouchPoints

Self-Checkout/Roaming Checkout. Versions of self-checkout are already in play for grocery, big box and a variety of other stores, mostly to reduce wait times at registers. Roaming checkout enables employees to take payments from shoppers from anywhere inside the store.

article thumbnail

Is Your Wine & Liquor Store Stuck in the Past? Unlock Growth with Integrated POS

I Vend

Here’s some of the key ways that an integrated POS systems for wine and liquor can underpin growth strategies for wine and liquor stores: POS – integrated POS software for wine and liquor stores helps with efficiency at the checkout, enhancing the customer experience and streamlining operations in wine and liquor stores.

article thumbnail

The Rise of Smart Stores: How IoT is Revolutionizing the Retail Experience

365 Retail

Technologies in these stores let them track inventory in real-time, track customer behaviour , offer tailored recommendations, and even automate checkout. No-Friction Shopping IoT is also transforming the checkout process, so enabling faster and more convenient consumer experience.