Navigating Loss Prevention trends 2024
Enhancing security with consumer-friendly strategies
Retail operations face daily challenges within loss prevention and retail loss. Including staff and consumer safety, theft, inventory loss, and the associated costs. The significance of these challenges has grown substantially in recent years.
At the same time the 2024 consumers demand frictionless experiences. The balance between sales loss and frictionless experiences are a big struggle for retailers. What’s worth what?
On the agenda
- Understand loss prevention in retail operations
We delve into the impacts of loss on retail operations in 2024 and beyond. Gain valuable insights into why this topic has become increasingly prominent and how you can effectively address it, without impact on your customers experience. - Insights from Colin Peacock from ECR Retail Loss
Colin Peacock, Group Strategy Coordinator for the ECR Retail Loss, provide us essential insights into understanding and tackling retail loss in the current landscape and beyond. With over 25 years of experience leading collaborative efforts in addressing retail loss, Colin brings a wealth of knowledge to the discussion. - Secure your store and keep sales numbers up
As the issue of retail loss continues to escalate, the market for loss prevention solutions has evolved rapidly. Mikael Bengtsson from ITAB’s loss prevention team, Philip Müller, CEO and founder of Signatrix, and Tobias Bahnemann CEO of Rapitag present three distinct loss cases and innovative strategies to address them in 2024. Improved experiences, uplift in sales numbers and reduced loss are possible!
Retailers in the US have attempted to tackle their loss problems by implementing locked storage for their goods and items. However, this solution has sparked intense debate due to the friction it introduce.
Loss prevention webinar speakers
Colin Peacock – Sell More, Lose Less Expert
Colin is an Honorary Visiting Fellow at the University of Leicester, where he is a guest lecturer and a member of the School of Criminology external advisory board. For the last 25 years, he has led ECR Retail Loss, a platform for collaboration that seeks to find new imaginative ways to tackle the problem of retail loss through collaboration. Over 300 retailers and CPG’s participate in the group’s activities that include commissioning and publishing new research projects, regular in-person and online meetings and Innovation Challenges. For thirty years, Colin worked for Procter & Gamble, in UK, European and Global positions in Marketing, Customer Development, Brand Protection and Retail Store Execution.
ITAB Loss prevention solutions
At ITAB, we specialize in crafting innovative strategies to safeguard your retail environment. With insights drawn from diverse market sectors, we’ve developed comprehensive solutions that seamlessly integrate with your operations. From safeguard your staff, to minimizing stock loss and enhancing the consumer experience, our tailored approach ensures tangible results.
Rapitag
Rapitag has developed the world’s first patented Anti-Theft IoT Smart Sensors, revolutionising retail asset protection with innovative merchandise security. Our Intelligent Asset Surveillance (IAS) solutions automate de-tagging at payment, enabling advanced tracking for valuable product insights and customer behaviour analysis. Rapitag’s Smart Anti-Theft Sensors enhance self-checkout, combining security and efficiency. Fully compatible with existing retail infrastructures, Rapitag ensures reduced theft, increased staff efficiency, and unparalleled protection. We make it easier to shop, and harder to steal.
Signatrix
Signatrix leads the way in harnessing the power of computer vision for retailers through its software that detects customer movements, objects, and any irregular behaviour in the retailer’s stores to take control and track through on-demand data and notifications. Self-service in retail is increasing and to combat the associated risk of increased stock loss, visual intelligence solutions provide a wall of defence in security within the checkout area and exits in store.
Using state-of-the-art Artificial Intelligence algorithms, Signatrix aggregates all the store’s video content in one central hub. This gives the retailer the opportunity to add and fine-tune use-case apps, review incidents and truly understand the store and the customers through valuable analytics.
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