Laura Roach’s Post

Just as inventory shrinkage has a variety of sources, there are multiple methods retailers can prioritize to raise their security IQ and heighten loss prevention. https://lnkd.in/e9FCCUWH

There are so many issues that retailers are grappling with at the moment - supply chain issues, sustainability concerns, staff shortages. The list goes on. And somewhere when often chatting with retailers about their key concerns, the topic always comes up about the challenges of shrinkage and theft and managing security in a busy retail world.   Like my colleague and safari co host Sharon Yourell Lawlor BBS I wasn't well informed enough about many of the solutions and solutions provided to help retailers deal with these issues. So, it was a pleasure when we met Sarah Lenihan one of the Verkada team in London at the recent Retail Technology Show, and how she shared how technology is empowering retailers to take back control in this space.    With the emergence of technologies and AI enabled tools, supporting active loss prevention strategies and enabling action in real time, this is a fascinating area in which AI is really evolving retail security, tackling shrinkage and enabling the retailer to respond more effectively to the industry issue. What's interesting is that chances are you've already visited a retail store using Verkada's security technology, you just didn't know or notice it. Check out Verkada's ebook on retail security and loss prevention measures, free to download in the retail section on their website. https://lnkd.in/eRJpCne9 And if you want to learn more, this is one of the many topics we will touch on when we host a London Retail Safari on the 12th June, which looks at the needs of both the modern shopper and retailer. Interested to know more please do drop myself or Sharon a DM. Also please do connect with Sarah if you want to know more about Verkadas one platform solution!

The importance of retail security cannot be overstated. Retail businesses face constant threats from shoplifting, employee theft, organised retail crime, and various fraudulent activities. Here's how Security BIS Retail Solution can help: 🧑🦰Identify shoplifters: Facial recognition catches known threats at the door. 💰 Monitor cash registers: Link POS data to video feeds with POS Supervision. 🛍️ Manage queues: Optimize staffing with real-time queue insights. 🗺️Heat Maps: See where customers spend their time in your store. 📋 Custom Reports: Generate reports tailored to each store in your chain. Learn more in the video below: https://lnkd.in/dTmHXrAf

Tis the season for enhancing retail security! Here are 5 things store owners and managers can do to enhance physical security during the holiday season to prevent theft. https://lnkd.in/gdYmfeHc #yeahthatgreenville #retail #retailsecurity #storemanager #retailmanagement #securitysystem #holidaytheft

Forecast insight report: ‘Loss Prevention: 15 million devices in 2033 providing retailers with theft prevention solutions’. Every year, businesses lose goods worth billions of dollars because of retail theft. In the US total retail shrink (inventory loss from multiple factors including shopliftings, employee theft, supplier fraud and employee errors) cost almost USD95 billion in 2021 according to the National Retail Federation 2022 survey. The use of boundary control and goods location monitoring is employed as a part of retail loss prevention strategies. Businesses implement tags, labels and GPS trackers to mitigate theft, many choosing to deploy small RFID-based tags. From these, businesses also gain better inventory visibility throughout their supply chains, identifying out-of-stock goods in retail outlets. Read more here https://lnkd.in/e2GEAaxe

Retailers are increasingly alarmed by the surge in shrinkage rates within their stores. Both quick-service restaurants (QSRs) and supermarkets are grappling with heightened theft occurrences amid a cost-of-living crisis being perpetrated by both customers and, in some cases, their employees. The imperative of integrating with all endpoints to address this issue cannot be overstated. The point of sale, now often equipped with cameras capturing transactions, combined with CCTV cameras located throughout the premises, provides retailers with a wealth of data to identify sources of shrinkage. With Vigilant LiveStore you can seamlessly connect endpoints in real-time, enabling efficient identification of suspicious transactions. Learn more: https://loom.ly/E1cBjBs #Retail #ProfitProtection #RetailTheft #EndPointIntegration

Articles like this miss a subtle point - that retail operators (LP teams) don't have the time to invest in this level of analytics per store. They want simple electronic security systems that can have targeted deployment at problem stores. Modular "multi-site" security solutions exist and are very affordable, providing immediate ROI from the visible presence of recording devices at those very stores whilst giving them "compliance comfort" that events are recorded and reportable. https://lnkd.in/geb-DP5Z

False positives are a nightmare for security tech—distracting from real threats and forcing teams into damage control mode to protect the customer experience. With retail shrinkage on the rise, Loss Prevention Officers are exploring every option, but it’s crucial not to disrupt the in-store experience. #retail #theft #shoplifting #lossprevention https://lnkd.in/enZFCMEs

Retailers are under pressure to reduce theft and keep their staff safe. However, identifying the right mitigation strategies can be a challenge for LP executives. Learn how to stay aligned with your organizational objectives: https://lnkd.in/g4BbXpYF #lossprevention #assetprotection #retail #smartwheel #retailtechnology

Want to Elevate your retail store's safety? In our latest blog, discover the power of unified systems and AI-driven analytics in safeguarding your employees, customers, and assets from theft and fire. #RetailSecurity #FireSafety #AIAnalytics https://ow.ly/16uM50SBr2s