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Retailers are integrating AI with bricks-and-mortar shops and online platforms to give the shopping experience a remarkable transformation, enhancing both customer satisfaction and operational efficiency. Lossprevention: Employs advanced surveillance techniques to detect and prevent shoplifting.
In the past year, lossprevention teams have had to adapt to new priority concern areas while 44% of retailers allocated more budget to lossprevention. As the consumer shift towards multichannel shopping has continued, more instances of loss have resulted from such avenues as BOPIS or curbside pickup.
Technology — specifically edge computing — provides the foundation for a better customer experience, real-time inventory management, enhanced security and lossprevention and in-store analytics. Computer vision at the edge would create more personalized shopping experiences that synchronize in-person, online and mobile interactions.
Even before the pandemic completely upended the world economy, how consumers shopped had been changing — and mobile devices were at the forefront of that change. Then the shuttering of many stores made online shopping a necessity, while social distancing measures turned contactless payments from a convenient option to a safer alternative.
Security and LossPrevention. In retail, facial recognition can be leveraged by lossprevention teams to monitor shoppers for possible criminal behavior. Facial recognition can be deployed via security cameras, but it can also be installed in self-checkout registers, ATMs, kiosks, and other individual-use technologies.
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. The palm images, after being entered in a kiosk at the 65 locations, link shoppers’ palms to payment cards. Happy New Year. INFLATION ON. YOUR MIND. OF YOUR HANDS.
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