Analytics Insights: How new technologies are transforming the retail & loss prevention markets

Originally published on Source Security.

How are new technologies transforming the retail and loss prevention markets?

In recent years, retailers everywhere have been evaluating and transforming their brick-and-mortar store strategies to prove the value of in-person channels. Until now, physical locations could not compete with unmatched global reach, lower overhead costs, and targeted personalization made possible by ecommerce. Today, however, advanced technologies, like video analytics, are empowering physical stores and multi-channel merchants to achieve the same effect.

Integrating video analytics in brick-and-mortar stores enables retailers to bridge gaps between online and offline shopping experiences with real-time data – such as customer interactions with products and displays. This business intelligence enables retailers to make informed decisions, enhance operational efficiency, and deliver a seamless shopping experience that not only meets the evolving needs of consumers but also mirrors the data-driven online experience.

Additionally, video analytics in physical stores critically supports asset protection and loss prevention: When retailers have more insight into consumer behavior and visitor patterns, they can proactively implement plans to protect people and property and reduce shrinkage. Many advanced technologies integrate with existing investments, like video surveillance and POS systems, effectively delivering a comprehensive and holistic technology suite for retail asset protection.

By embracing new solutions and leveraging existing technology investments in physical stores, retailers can unlock a wealth of opportunities to drive growth, improve customer satisfaction, and stay ahead in today’s dynamic retail landscape. The combination of ecommerce innovations and surveillance technology is reshaping the future of retail and loss prevention markets by empowering retailers to adapt to changing consumer preferences and market trends effectively.

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About the Author
Shai Rybak, Vice President of Customer Success at BriefCam, the provider of video analytics solutions that enable people, communities, and companies of any size to unlock the value of video surveillance content, is a seasoned business, operations, and software development leader. Possessing a knack for building relationships and a belief in customer centricity driving his approach, Shai excels in managing global projects and international customer success teams. His extensive experience includes leadership roles in retail, fintech, and subscription-based companies, transforming organizations to meet evolving market demands.