Remove Consumer Remove Loss Prevention Remove Payment Services
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Retail Risk is Serious Business – and it’s Time we Acted Like it

Retail TouchPoints

From a risk and compliance perspective, defense, finance, tech, and healthcare are generally thought of as the riskiest industries but the retail sector is more vulnerable than it might appear. Mitigating those risks is important but food safety might be the most important of all.

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Harsh Returns Policies Push Retailers to Plan for New Types of Returns Fraud

Retail TouchPoints

At the same time, a rigid strategy like no receipt, no returns can sour loyal customers as well as drive fraudsters toward new criminal tactics, forcing loss prevention teams to continually change strategies. The data is generated from actual returns processed online and in-store at 60 of the top 100 U.S.

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What to Consider When Incorporating AI into Your Retail Business

Retail TouchPoints

Artificial intelligence has revolutionized the way businesses and individuals operate by using data to power tools that can analyze, respond, predict and create in a manner similar to the human brain. Virtual try-on technologies that allow consumers to see themselves wearing an item before making a purchase are interesting but complicated.

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Retail x Fintech: The Importance of Security in Retail’s Adoption of BOPIS and Payment Installment Plans

Retail TouchPoints

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. Mobile devices have become powerful payment instruments, on the way to replacing traditional cards for in-store purchases in many markets around the globe.

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How Edge Computing Enables the Retail Store of the Future

Retail TouchPoints

Retailers cited rising costs, declining consumer spending and supply chain volatility as their top concerns. 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.

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Retail’s use of facial recognition raises red flags for consumers

Inside Retail

The more a business knows about what its customer needs, does, and expects of them, the better its services can be tailored to give them what they want. The software is used to gather evidence on repeat offenders, and is largely used to prevent theft and shrinkage. In the world of modern retail, it’s clear that customer data is king.

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Is the Retail Crime Wave a Tsunami or a Ripple?

Retail TouchPoints

And there was certainly some reality to it: the Retail TouchPoints 2023 Store Operations Benchmark Survey of retailers themselves revealed that “reducing theft/shrink” was a top store-level workforce management challenge for 46% of respondents, second only to the 53% citing employee training and empowerment.