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As such, there are many factors to consider when implementing new lossprevention tactics. At the top of that list is the effect locks and cases can have on well-intentioned shoppers when not deployed as part of a holistic, data-led lossprevention strategy.
In our recent report , we asked lossprevention managers the most common tactics used, and the most common are still very simple tactics that require no planning,” Townsley said. I think it’s the case where [retailers] really didn’t think shoplifting would increase with self-checkout, but it’s made it really easy.”
In a recent SIA Retail Industry Survey, 60% of respondents were currently deploying cloud security solutions or actively planning to invest in the next two years, and it’s no surprise because moving security to the cloud opens up a host of benefits for retailers.
Address the self-checkout issue: Staffing constraints have made self-checkouts a popular fixture in stores of all sizes. Throughout his retail career, lossprevention remained a focus. While they solve one issue, they create a few more when it comes to theft.
Technology — specifically edge computing — provides the foundation for a better customer experience, real-time inventory management, enhanced security and lossprevention and in-store analytics. Those same cameras and sensors also are at the heart of the grab-and-go checkout system featured in Amazon Go stores.
Then the next step is to go beyond that to say you also plan on empowering consumers to be able to live those promises as well, whether that’s inclusivity, sustainability or giving back to the community. Everyday items are behind locked plexiglass, but technology will become a key driver of lossprevention efforts.
This helps online retailers capitalize on the added benefits of reduced cart abandonment and customer frustration during checkout that impacts brand loyalty. Prior to Entersekt, Bledsoe was a solution architect and sales engineer at VMware, working extensively on security and data lossprevention products. Secure Foundations.
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.
We’re still seeing retailers planning to launch their own to broaden their product offering, reach and discovery. 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 lossprevention and automatically updated inventory.
In healthcare, for instance, AI-powered algorithms can assist in early disease detection, drug discovery, and personalized treatment plans, ultimately saving lives and improving patient outcomes. Additionally, it can help monitor employee behaviour and prevent internal theft.
Although e-commerce gets all of the attention, the past two decades of technological change have transformed every aspect of the retail business — from planning, inventory, pricing, and promotions — all the way down to customer service and the in-store experience.
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. Whereas BOPIS shifts the delivery to the retail premises where store employees and lossprevention practices control every order.
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