by Stephen May | Aug 20, 2024
Inventory shrink costs retailers millions of dollars annually – in 2023 alone, shrink accounted for $142 billion in losses. Even with retailers becoming more adept at tracking the insidious operations of organized retail crime (ORC) and digitally-savvy fraudsters, the...
by Stephen May | Feb 15, 2024
Fraud and abuse in retail returns continue to rise at a concerning pace, according to the annual 2023 Consumer Returns in the Retail Industry Report from NRF and Appriss Retail. Case in point: Fraud and abuse accounted for nearly 14% of total retail returns in 2023,...
by Stephen May | Dec 21, 2023
Crime, the economy, and artificial intelligence (AI) all weighed heavily on retail and loss prevention this year, and those trends will play a role in the coming year. But, retailers are up for the challenge. Consider comments by Target CEO Brian Cornell, who said...
by Stephen May | Dec 7, 2023
Theft and fraud are on the rise and as a result, businesses are investing in the latest and greatest ways to reduce this unnecessary shrink. For many, camera-based fraud prevention like CCTV was the first step. And now, these retailers have incorporated visual AI into...
by Stephen May | Nov 16, 2023
The advent of artificial intelligence (AI) solutions over the last few years and the burgeoning use of generative AI, in particular, is revolutionizing retail. From the supply chain to consumer-facing chatbots, AI has emerged as a catalyst for online retail and...
