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Exclusive: How Daniel’s Jewelers is Using Vision AI to Better Serve its Customers

Retail TouchPoints

One prime example: the retailer’s partnership with RetailNext to use in-store traffic analytics for shaping everything from staffing strategies to improving store performance and even loss prevention. But in the process, he fell back in love with the business he had grown up in, and the plan changed. “I

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Computer Vision and AI: the new weapon against shoplifters

365 Retail

Has a shopper moved away from the self-checkout without a payment transaction? Be it intentional or negligent: the security system comprising IP cameras and AI-based software learns and detects such operating errors and/or wrong behaviours and issues a warning in real time. Does the article match the EAN code?

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How Edge Computing Enables the Retail Store of the Future

Retail TouchPoints

Technology — specifically edge computing — provides the foundation for a better customer experience, real-time inventory management, enhanced security and loss prevention and in-store analytics. Innovations have slowed since then, but edge computing will usher in a new wave of personalization and self-service for modern shoppers.

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Retail Returns Increased to $761 Billion in 2021

VMS

This accounts for an average of 16.6 According to NRF, online sales accounted for $1.050 trillion of total U.S. The most common types of payment used during the original purchase that led to a return were credit cards (22.78 percent of total U.S. retail sales, which soared to $4.583 trillion in 2021. “As percent) is up from 10.6

Returns 52
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2023: The Year of Customer Retention? Retail Tech Predictions

Retail Assist

Physical retail accounts for 75% of sales in the UK and new stores are opening all the time. One innovation we hope will gain more traction is scan-less self-checkout - it uses RFID tags for quick and easy checkout, reduced queues, integrated loss prevention and automatically updated inventory. Supply Chain Resilience.

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10 Finance Tips All Retailers Should Follow

Retail Next

You don’t want to get a bad reputation among fellow business owners as someone who is always late on payments. Conversely, if you pay bills late, you are likely to get hit with late fees, which could have a negative impact on your bank account, and potentially cause you to fall behind with other vendors.

Finance 59
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How Retailers can Combat the Rising Threat of Theft

Retail TouchPoints

As the tactics behind these crimes become increasingly sophisticated, and customer expectations for in-store experiences are higher than ever, retailers are finding it more difficult to protect their assets while maintaining great service. This represents the greatest source of loss for retailers of all sizes.