Loss prevention is one of the many things top of mind for grocers and all retailers really — especially as inflation continues to affect consumers across the United States.
According to the National Retail Federation, retailers lose more than $60 billion in sales annually due to shrink. Between customer shoplifting and employee theft, grocers are having to tap into their resources to reduce and control shrink. Emerging omnichannel technologies can help mitigate losses and stop theft in its tracks – not to mention give store employees more time to keep track of suspicious activities.
Here’s a few examples of how technology is becoming a sound solution for loss prevention in retail stores.
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Artificial intelligence (AI)-powered carts put contactless checkout within reach while also helping protect stores against theft.
These smart carts use weight sensors and cameras to identify items placed in the shopper’s basket while feeding that data into the cart’s touchscreen for easy payment.
While the shopper may see this as a convenient new payment method, grocers can rely on the innovation to lessen the opportunities for “skip scans.”
Self-checkout technologies have evolved significantly over the years to become a sound loss prevention solution.
Computer vision cameras can catch skip scans on-the-spot while also capturing the occurrence on camera. The technology not only notifies the store associate when an item is missed, but it also allows the shopper to self-correct in case the skipped scan was a mistake.
This successfully helps grocers prevent shrink with minimal in-person intervention.
Achieve Self-Checkout Mastery in an ongoing webinar series STCR is hosting with Toshiba!
Without integrated SMS store management software, stores will lack the ability to seamlessly communicate needs from the front of the store to the back office.
Having one centralized application that tracks transactional and product data helps grocers understand where and how theft happens in their store and how to prevent it.
This, combined with camera footage, gives retailers a full toolkit to control shrink in addition to running their stores more efficiently.
To successfully prevent and control shrink, grocers should utilize a full suite of omnichannel technologies that incorporate artificial intelligence, camera systems, and management applications.
The professionals at STCR can provide you with recommendations and implement a system that will work best for your store. Request a demo to learn more today!
