In-store analytics platform provider RetailNext has released a Loss Prevention solution designed to help retailers reduce shrinkage and maximize profitability.
RetailNext is showcasing the solution at the NRF Protect Expo on June 24-25 at the Long Beach Convention and Entertainment Center, in booth #1607.
With The Loss Prevention solution, retailers can access live and recorded video from all stores in a chain, regardless of location or device, and export and archive video footage for events under investigation.Users also can identify trends and access all stores’ transactions through POS exception.
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Loss Prevention gives retailers the ability to create in-store “dwell zones” around high-priced and other high-risk merchandise, or at less-trafficked locations in the store, that offer real-time alerts to sales associates that assist customers dwelling beyond threshold times.
Additionally, retailers can monitor security events and gather reports with time-stamped video and other data such as door openings, key pad usages and panic buttons.
“Loss Prevention professionals are being tasked with greater responsibility and accountability for the success of the overall retail business, but with generally smaller budgets and fewer resources,” said Alexei Agratchev, CEO and Co-Founder at RetailNext. “Shrinkage is a big concern for retailers, as it accounts for almost 1.5% of retail sales in the U.S.”
