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Federal Policies, AI and Supporting Law Enforcement: Retailers Fight Back Against ORC

Retail TouchPoints

billion in losses, up from $93.9 billion in 2021, according to a retail security report from the National Retail Federation (NRF) and the Loss Prevention Research Council (LPRC). Retailers and their loss prevention teams can’t tackle the problem alone. In 2022, shrink caused retailers $112.1

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Sensormatic Solutions Introduces Computer Vision Platform

Retail TouchPoints

The new offering is designed to help deploy a variety of analytics that provide real-time insights on retail-specific use cases related to shopper behavior, loss prevention, safety and security, inventory, shopper demographics and other data.

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AI Isn’t Going Anywhere: How Retailers Plan to Deploy the Tech in 2024

Retail TouchPoints

Among the current top use cases for AI in retail are: Store analytics and insights; Personalized customer recommendations; Adaptive advertising, promotions and pricing; Stockout and inventory management; and Conversational AI. But many of these tasks may just represent the low-hanging AI fruit.

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

Inside Retail

Targeted advertising: You can use data to target promotions effectively, enhancing campaign ROI. Loss prevention: Employs advanced surveillance techniques to detect and prevent shoplifting. Retailers can leverage customer data to offer targeted promotions, accurate product recommendations, and tailored marketing messages.

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Holiday Store Experience Survey: Consumers Prioritize Safety Over Immersive Shopper Journeys

Retail TouchPoints

Melvin: Inventory intelligence and loss prevention technology can help retailers stay on target during busy times, and when it’s integrated, this data becomes even more powerful, producing actionable insights for retailers to optimize enterprise-wide outcomes.

Consumer 264
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Dick’s, Lowe’s, Target Execs Cite Theft’s Impact on Financial Results and Safety

Retail TouchPoints

As a result, we’re continuing to work tirelessly with retail industry groups and community partners to find solutions to promote safety for our store teams and guests.” Given the widespread impact of theft, retailers are investing in new systems and technologies to support their loss prevention efforts.

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During the Holidays, Small and Mid-Sized Businesses Feel the Impact of Retail Crime

Retail TouchPoints

Unfortunately, while larger stores often have security measures like loss prevention personnel, anti-theft sensors and other helpful solutions, those measures usually aren’t financially feasible for small and mid-sized businesses.