Verkada’s Post

Retail theft remains a significant challenge for the industry, as highlighted in recent earnings statements from Target, Walgreens, and other major retailers like Walmart and CVS. These companies have reported substantial losses due to organized retail crime, which has severely impacted their profitability and operational efficiency. The latest figures underscore the urgent need for retailers to invest more in proactive security detection rather than relying solely on traditional surveillance systems. While surveillance cameras can document theft incidents, proactive measures—such as advanced analytics, real-time monitoring, and predictive technologies—can help prevent these incidents before they occur. Proactive security solutions protect inventory, enhance customers' shopping experiences, and ensure a safer environment for employees. By investing in cutting-edge security technologies, retailers can better mitigate losses and secure sustainable growth. #RetailSecurity #LossPrevention #Innovation #RetailTech #ProactiveSecurity

Increasing numbers of retailers are reporting record losses. It’s triggering alarm bells everywhere. 🚨 Recent news stories about theft, fraud and organised retail crime may have convinced you too that this is a problem you need to be focusing your attention on. But wait! Before you go all out on seemingly essential loss prevention efforts, take a few minutes to consider why most prevention processes are counterintuitive – and why doubling down on loss detection instead might prove to be a better move. In this blog, Zebra’s Vice President & General Manager of Advanced Location Technologies, Brent Brown, makes the case for ‘loss prevention’ being an outdated notion. Why? Because it invariably introduces friction into the modern, convenient shopping experience most retailers are striving to offer their customers. 💡 Instead, he argues, loss detection initiatives deliver all the insights and data you need to know exactly when, where, and why losses are happening – and if they’re actually ‘losses’ at all. ➡ Intrigued? Want to protect your retail business in the best possible way? Check out Brent’s blog here: https://lnkd.in/etvgJuGZ #Retail #RFID #ZebraEmployee

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.   I have to admit that while I often hear about the problems, I wasn't informed enough about many of the solutions and solutions providers to help retailers deal with these issues. So, it was a pleasure when I met Sarah Lenihan, one of the Verkada team in London at the recent Retail Technology Show, who later took time to talk me through the emerging trends around retail security and 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 12th June, which looks at the needs of both the modern shopper and retailer. Rob Yeates Flick Collingwood 📈 Becca Simmons Mandy Hennebry Niamh Higgins Louise Lally Training Academy Peter Hyland Oonagh O'Hagan Jennifer Turner (Delaney) Mark McCann Simon Betson Keith Hanley Lorraine Butler Fergal Doyle CDir Jean McCabe TRYSTAN FARNWORTH Dee Cunniam Evelyn Moynihan Matt Bradley Carl Goodman William Good DJ McAllen Peter Rigney Suzanne Quinn (McHugh) Paul Lowry Áine Hussey Holly Barry Jim Barry Katrin Hengst #tre #topretailexpert

📣 "Retail theft costs the sector €1.6 billion every year" in Ireland. Sharon Yourell Lawlor BBS and I sat down to explore Verkada's physical security platform and how we can help Irish retailers. With AI enabled tools, supporting active loss prevention strategies and enabling action in real time - Verkada security can give the power back to Irish retailers. If you are interested in learning about how Verkada and THINK PLAN DO CONSULTING (TPD Consulting) can help with in-store retail theft, operational efficiencies in distribution centres & warehouses and much more reach out! #retail #retailcrime

The impact of #retailtheft is undeniable, a fact highlighted by DICK'S Sporting Goods in a statement yesterday, which told a cautionary tale of reduced profits due to “increasingly serious” theft. This development underscores the urgent need for #innovative solutions. Our recent report, "RetailTech: Leading-Edge Loss Prevention," delves into the cutting-edge strategies retailers need to combat theft and fraud via #RFID, video surveillance and more. #Retailers must utilize technology to secure their bottom line and customer trust. The rise in retail theft demands a proactive approach, and our report—developed in partnership with Sensormatic, a leader in retail systems—delves into these transformative technologies. By leveraging these advancements, businesses can effectively safeguard their profits and create a secure shopping environment.  Discover how you can stay ahead in the ever-evolving landscape of loss prevention—read the full, free report here: https://hubs.la/Q01SKVZX0 #RetailTech #LossPrevention #RetailInnovation 

Today’s retailers face numerous challenges and are under extreme pressure in this volatile, uncertain, complex, and ambiguous (VUCA) world. To meet the evolving needs of consumers and achieve business goals, they are responding by deploying solutions to unify the shopper experience across multiple touchpoints. Fredrik Carlegren, VP of Marketing and Communications at Toshiba Global Commerce Solutions shares his thoughts on "A.I. and Combating Shrink (Retail Theft)", check out his latest article recently published in Focus Outlook : https://lnkd.in/gPUexW5k

Interesting reading the commentary overall Mark Ryski which tends to the emotional and real limitations on merchandising. For the retailers it's just balancing financials to the overall bottom line. The continued shortage of labor in store and with public safety along with low experience levels in both means the critical human part of loss prevention is missing. So aside from product loss there is a far more significant insurance and physical plant penalties to consider. Doesn't matter who gets hurt in the end it is the retailer and their landlord that takes the hit. RFID gets suggested but not what to do after it 'triggered'... back to people sadly. The moral responses so often given that 'it is wrong' are correct, but don't have much to do with finances I'm afraid. Last comment: Loss Prevention usually reports upward to Operations or Finance, not to Merchandising so almost everyone in this thread is complaining to the wrong people. RetailWire Paida Mugudubi Consulting by Kantar #merchandising #retailing

An emerging trend is quietly revolutionizing retail security: body-worn cameras for retail staff. Major brands like Woolworths have already completed trials and are now actively deploying these cameras, with astonishing results. Crime reduction by 50%! 🎥 Imagine cameras roving about your store, capturing every moment—it's such a logical concept, it's surprising we didn't embrace it sooner. Worried about customer backlash? Fear not! Most customers are indifferent, and some even welcome the added security. 👥🔒 Implementing a body-worn camera platform in your stores demands expertise. Discover the myriad benefits and explore our comprehensive rollout strategy here: https://lnkd.in/dWRH2ZaZ Join the conversation and let's make retail safer together! 💬✨ #RetailInnovation #Security #BodyWornCameras

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!

𝐖𝐡𝐚𝐭 𝐝𝐨 𝐭𝐡𝐞 𝐝𝐢𝐠𝐢𝐭𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐬𝐭𝐨𝐫𝐞𝐬, 𝐭𝐡𝐞 𝐫𝐢𝐬𝐞 𝐨𝐟 𝐫𝐞𝐭𝐚𝐢𝐥 𝐦𝐞𝐝𝐢𝐚, 𝐚𝐧𝐝 𝐫𝐞𝐭𝐚𝐢𝐥 𝐭𝐡𝐞𝐟𝐭 𝐩𝐫𝐞𝐯𝐞𝐧𝐭𝐢𝐨𝐧 𝐡𝐚𝐯𝐞 𝐢𝐧 𝐜𝐨𝐦𝐦𝐨𝐧? 🤔 All have transformed from disjointed efforts into unified opportunities that boost retailers’ bottom lines. A new era of retail defragmentation is underway (and solution providers will be saying "Hooray!") 🎉 Learn more in the latest episode of #SpieckermanSpeaksRetail. Hit the QR at the end or the link below to listen in. bit.ly/3Oa0vWd #retailshrink #retailcrime #retailmedia #retailmedianetworks #digitalmarketing #retailstrategy