The cost of doing nothing about retail crime significantly outweighs the expense of investing in digital solutions to combat theft, fraud and inventory losses. There's the cost of lost/stolen product but there's also loss of reputation, customer trust and staff morale to consider, too.
Data from our retail theft crisis report shows:
➡️ More than half (53%) of senior retail leaders are allocating 3% to 4% of their total IT budget to retail theft detection and almost a quarter (23%) are allocating 5% to 6% of their IT spend
➡️ 76% are currently using #RFID solutions or plan to be in the next 24 months
➡️ Over a third (38%) plan to deploy AI-enabled cameras, while 37% will introduce facial recognition technology within the next 24 months
What's clear is that retailers must take a data-led approach to loss prevention. Leveraging advanced track and trace technologies with real-time analytics will help to turn loss prevention into a proactive operation rather than a reactive one.
https://lnkd.in/dV7NvsjY
#Shrink #RetailTheft #RetailTechnology
Seme Solutions | Developing security solutions that leverage the benefits of artificial intelligence, deep learning, and business automation.
8moWill this be recorded? It will be streaming 4AM in my region. I would love to watch it though.