IDIS has released a free-to-download new eBook that details how brick-and-mortar retailers can leverage the power of next-gen video surveillance and AI-powered analytics to re-emerge more competitive and profitable post-pandemic.
One of the biggest hurdles that retailers must scale is shrink, which continues to plague loss prevention managers with few stores keeping rates below 0.5%.
Managers face wide array of shrink challenges
The 2020 National Retail Federation (NRF) survey results show that losses from theft, fraud, and other shrink factors rose nearly 22% from 2018 to 2019, with the latest 2020 figure remaining above the five-year average.
Currently, security and loss prevention managers are dealing with a wide array of shrink challenges, ranging from staff, returns and multichannel fraud, internal theft, deceptive self-scanning, and organised crime.
Leveraging the latest generation of cameras
Leveraging the latest generation of cameras is proving to be an effective strategy to reduce shrink
Leveraging the latest generation of cameras is proving to be an effective strategy to reduce shrink and tackle priorities, such as increased violence and aggression toward staff, while also delivering essential in-store and customer intelligence.
Retailers are in transformation mode and putting a sharper focus on improving shopper loyalty through an enhanced customer experience. The capabilities of smart video technologies are helping them streamline operations and cut losses.
New, free-to-download eBook
This informational eBook, which is downloadable for free from the IDIS website, details how retailers can tackle shrink head-on, take more control of their operating costs, and effectively integrate their online operations with their brick-and-mortar locations.
Affordable video surveillance technology is playing a pivotal role in facilitating this transformation and providing retailers with powerful business intelligence tools.
AI-powered video analytics
Andrew Myung, the President of IDIS America, said “The wide range of camera models and choice of VMS are a perfect fit for retailers of any size, to address the shifting risk landscape and deliver rapid return on investment, particularly when it comes to tackling loss prevention and organised retail crime.”
He adds, “At the same time, AI-powered video analytics are also becoming more affordable and providing even smaller stores with easy-to-use tools to enhance the customer experience and ultimately boost sales.”
Range of topics covered
Topics covered in the Retail eBook include Overcoming Economic Hurdles; Getting On Top of Retail Shrink; Protecting Against Store Violence; Gaining Value from Affordable AI-Powered Video Analytics; Affordable and Reliable Storage; Designing Systems for Assured Compliance and Ensuring Rapid Return on Investment.