How Can Modern Technology Help Reduce Return Fraud?
Christmas is approaching. It is the time of gifting and returning. So, retailers are trying to tackle return fraud at a time where returns are at their highest, increasing the chances of fraudulent returns. In the USA, 25% of annual returns happen between thanksgiving and New Year’s Day. That’s not to say return fraud is […]
5 Technologies for Retail Loss Prevention
Theft and shrinkage have been causing big losses for in retail. According to a 2020 BRC survey, crime alone had cost retailers £1 billion in 2019 and a whopping £1.2 billion was spent on crime prevention. Technological advances are among some of the most effective loss prevention methods as they are reducing shrinkage, catching […]
Theft prevention with video analytics
The most common method for deterring and identifying theft is currently CCTV cameras. 54% retailers have said that CCTV systems have significantly reduced theft and fraud by staff and contractors. However, they have limitations, and theft cost UK retailers £2.2 billion and US retailers nearly $62 billion in 2019. 2020 also made retail stores a […]
6 Payment Innovations and Trends Retailers Should be Prepared for in 2021
Following the outbreak of the Covid-19 pandemic, consumers have become more tech savvy and concerned with safety. They are adopting new payment technologies and innovations to stay safe and shop efficiently. Retailers have the opportunity to use these technologies to give themselves a competitive edge. Here are some of the payment innovations and trends […]
Digital Signage: The new-age technology for retail
AI based digital signage is a perfect way to meet consumer demand in retail stores as well as build the bridge between omnichannel. While static signage has always been around, this new technology has the ability to collect data and use that data to disseminate correct information and promotions, to a highly targeted audience, at […]
The potential of AI in brick-and-mortar stores
Artificial intelligence (AI) has the ability to completely transform retail by offering a level of automation, personalisation and efficiency that improves customer experience as well as help retailers make instrumental business decisions. According to TotalRetail’s Retail Technology Report, AI and machine learning will have the greatest impact on retail over next few years. […]
TrackIn Offline Analytics: a quick intro to a futureproof solution
How it works With the help of advanced algorithms, TrackIn processes surveillance camera footage into insightful and actionable data in real time. Data on footfall, real time occupancy, flow and heat maps, path and dwell analysis, and product specific insights can be extracted from the dashboard. Retailers can hone in on specific date, […]
Data protection: A quick introduction to GDPR and data controllers’ responsibilities
The General Data Protection Regulation (GDPR) currently stands as the toughest privacy and security law in the world today. Post Brexit there are two branches of GDPR- the EU and UK- both aiming to protect people’s rights to data privacy. Thus, any form of data collection which can help identify an individual is subject to […]
4 ways to gather actionable data in brick-and-mortar stores.
Brick-and-mortar stores are struggling to keep up with savvy shopper and online retail. However, they have a lot of value when it comes to branding as physical presence solidifies a brands dominion. So, brick-and-mortar stores must transform the power of data into actionable insights in order to better understand their customers and keep up […]
Pop up stores and data: how data can help pop-up stores grab opportunities
Pop-up stores are being used more and more to test markets, spotlight product ranges and increase customer loyalty. The Covid-19 pandemic created opportunities for pop-up stores by permanently changing consumers shopping habits. Problems: The temporary nature of pop-up stores is simultaneously favourable and unfavourable for the retailer. It draws in consumers but it can be […]