Solution providers offer a wide spectrum of mission-critical products and services designed to help meet the rising demands of the asset protection function and the retail business in general. We use these resources to increase efficiencies, improve performance, enhance productivity, support safety, lower costs, and discourage theft.
By the same respect, our vendors can offer much more than simply providing mission-critical products and services. They have become an extension of our team and partners in the success of our department, our program and our company. They work with us to find solutions to both the simple and complex challenges we face on a daily basis. These relationships have become an essential factor in the success of today’s loss prevention programs, and it is more important than ever that we effectively manage all aspects of our vendor relationships—from selecting the right vendor to achieving optimal results that best meet our business objectives.
Appriss Retail, a division of Appriss, Inc., provides artificial intelligence-based solutions to help retailers protect margin, unlock sales, and cut shrink. With more than 20 years of retail data science expertise, the company’s software-as-a-service (SaaS) platform generates advanced analytical insights and real-time decisions that drive action throughout the organization, including loss prevention, operations, finance, and marketing.
Performance-improvement solutions yield measurable results with significant return on investment among retail store, e-commerce, and inventory functions. Appriss Retail serves a global base of leading specialty, apparel, department store, hard goods, big box, grocery, pharmacy, and hospitality businesses in more than 100,000 locations (brick and mortar and online) in 45 countries across six continents.
Appriss Retail conducts independent research and shares that information directly with the retail industry as well as working with associations including the National Retail Federation, the Loss Prevention Research Council, the Retail Industry Leader’s Association, Retail council of Canada, and ORIS Forums.
In December each year, the company publishes its Consumer Returns in the Retail Industry Report which is available for download, and is the only industry report to monetize the impact of consumer returns on the industry and state-level economies. In the early summer, Appriss Retail sponsors the National Retail Security Survey (NRSS) with produced by the NRF and the University of Florida.
Predict and Shape Shopper Behavior
Appriss Retail optimizes retailers’ revenue and margin by shaping behavior in every consumer transaction. The company’s solutions use predictive analytics to turn each individual shopper’s purchase or return into a more profitable experience. This yields immediate financial payback, increasing store comps by as much as 2 percent, with significant return on investment. The company’s solutions create sizable new sales at the return counter, while also building customer loyalty, and prevent fraudulent and abusive returns, reducing return rates, and improving shrink.
Optimizing Revenue in all Consumer Transactions
Appriss Retail draws from the expertise of PhD statisticians and a wealth of retail transactional history to develop its optimization solutions. A pioneer in the use of statistical models to reduce return fraud and shrink, the company uses sophisticated predictive analytics to identify incentives most likely to keep consumers shopping after making a purchase or legitimate return. Viewing information in real-time, and predicting behavior at an individual level, permits all retail transactions to be optimized to meet revenue, margin, or product sell-through objectives.
Retailers worldwide use Appriss Retail solutions to significantly mitigate losses related to fraud, theft, and operational/systemic breakdowns. The solutions provide immediate insight into the retail organization’s most critical data, allowing them to make informed decisions to reduce shrink, improve profitability and achieve rapid returns on investment. Appriss Retail solutions provide a comprehensive analytical view of user actions and process inefficiencies across a variety of retail risk areas including: point-of-sale, returns, supply, inventory, finance, pharmacy, and human resources.
When the customer can shop any channel, anywhere, decision making depends on universal access to data in real-time and instantaneous analysis of that data. To give retailers the competitive edge they need, Appriss Retail developed a cloud-based data integration platform that pulls data from all sources within the retail organization, including the very edge of the business. The platform benefits retailers in two ways. First, it offers a unified customer experience across channels and geographies, giving them access to real-time inventory levels and other information that drives purchase decisions. Second, it puts one 360-degree view of customer, inventory, product, price, and location data at employees’ fingertips. The data integration platform is system agnostic and can inform macro systems such as inventory, analytics, CRM, as well as store-level systems such as staffing and till management.
The global reach of the retail world drives us to stay current in all aspects of the business. It takes a diverse and collective effort to accomplish our goals and objectives, expanding our knowledge and our resources when necessary in order to accomplish critical tasks and improve results. We must carry the ability to continually upgrade our knowledge and skill sets, building a professional plan that drives us forward to meet the changing needs of our current position—and the one after that.
We encourage you to take the steps to learn more about our solution provider partners and improve your awareness regarding the products and services available to support the loss prevention industry. The time spent reviewing these brief summaries can add new perspective to the products and services that help shape our industry, and long-term value to your career development.
For more information on our industry solution providers, visit LP Magazine’s Business Directory.