opinion

How AI Tech Is Taking Loss Prevention to the Next Level

How AI Tech Is Taking Loss Prevention to the Next Level

Listen up, adult store owners! With the holiday season knocking on the door, I know you’re gearing up for those big sales numbers. But while you’re dreaming of ringing cash registers, there’s a shadow lurking: holiday shrink. Fortunately, I’ve got a new solution to share. AI-powered loss prevention is here, and it could be your MVP this season. Let’s deep-dive into this topic. Trust me, you’ll want to read every word.

The Holiday Season: It’s a Battlefield

If smart surveillance hasn’t been on your radar, it’s time to change that.

The holiday season is the Super Bowl for retailers. People are out, wallets open, ready to drop some serious cash. But more foot traffic also means more chaos, which means more opportunities for things to go sideways. Theft, fraud, mishandled inventory — the holiday season’s ripe for all of it. Instead of just bracing for impact, how about we get ahead of the game? Enter smart video surveillance.

“Smart” Surveillance: Your Secret Weapon

If smart surveillance hasn’t been on your radar, it’s time to change that. This isn’t just another fancy tech gimmick; it’s your front-line defense against shrink, for the holidays and beyond.

Breaking it down simply, smart surveillance is an AI-enabled video solution that delivers real-time insights on what is happening in your store, and I’m not just talking about catching shoplifters. It can help retail store operators, marketing, merchandising and design teams see the whole picture and really understand their customers, their behaviors and how to give them the best possible shopping experience.

Smart surveillance is like the Avengers of retail tech, assembling a super team of video surveillance, data analytics, POS and AI. One thing that makes this combination so super is that you don’t even need a whole new tech stack — an AI engine can be added to your existing video system and existing POS. The result? Faster service, deeper insights and solutions to problems you didn’t even know you had.

Here are some real-world examples of what it can do for you.

• Multi-system AI finds the thief quickly. No more searching through video streams at multiple stores and endless POS reports. During the holidays, when theft patterns can go haywire, smart surveillance is crunching numbers in real time, keeping you one step ahead. The AI engine combines video feeds with time/date stamp and geo zones, POS transaction-level data and a suspect transaction engine, and presents suspect transactions across your chain. They are tracked with receipt, video clip, associate assigned, level and frequency.

• Inventory? On lock. Products are flying off the shelves, and keeping track can be a nightmare. But with real-time monitoring, you’re not just counting products; you’re strategizing. Spot discrepancies, tackle them head-on and keep that inventory tighter than a drum.

• Keep an eye on the inside. It’s tough to admit, but sometimes the threat comes from within. Between temporary staff and holiday pressures, things can get messy. With smart surveillance, you’re not just hoping for the best; you’re ensuring everyone’s playing by the rules.

• Decode the holiday shopper. The holiday crowd’s a different beast. Casual shoppers, bargain hunters, last-minute dashers — it’s a mix. Smart surveillance breaks down their behaviors, helping you spot not just potential threats but also cross-sales opportunities and uplifts.

• Reports? Fast and Furious. In the holiday retail game, if you’re not fast, you’re last. Smart surveillance dishes out real-time reports so you’re always in the loop and always ready to pivot.

• Top-Tier Tech Without Breaking the Bank. Smart surveillance is not just for the big dogs. It’s leveling the playing field, offering this beast of a tool at a price that won’t have you crying into your eggnog. Use your existing systems and just add the AI media engine through integration.

‘Wrapping’ it Up: Don’t Just Survive the Holidays, Crush Them!

This isn’t just about tech. It’s about refusing to settle, pushing for better profits and keeping the profits you have made from walking out the door. The holiday season is a challenging roller coaster of highs and potential lows. With tools like smart surveillance, you’re not just riding it out — you’re taking the wheel.

Next month, we will discuss in-store digital signage. It’s more than just a pretty screen!

Sean Quinn is the CEO of All Point Retail, a retail technology company that offers managed retail commerce to retail businesses. He is a true veteran, both literally and figuratively. Bolstered by years of military experience in a variety of positions and commands, his strategic intelligence background laid the foundation for his passion for business intelligence through technology — especially in the retail arena.

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