Appriss Retail, a provider of retail customer experience solutions, is now offering North American retailers a new tool to drive top and bottom line growth while controlling shrink. Appriss Engage omnichannel return optimization uses artificial intelligence at key consumer interaction points to incentivize profitable behavior across channels and build relationships with consumers while providing asset protection and loss prevention controls.
Retailers using Engage omnichannel optimization can expect to see an average of $15 million in benefit for each $1 billion in revenue. Since each retail vertical has different return rates and the volume of returns by channel can vary by retailer, Appriss Retail provides an ROI calculator to help retailers understand the impact Engage can have.
“We combined existing capabilities into Engage to address the explosive growth of returns by driving profitable revenue and reducing risk,” said Nathan Smith, senior vice president of products at Appriss Retail. “Engage omnichannel optimization immediately impacts consumer behavior for the better—intelligent incentives are delivered at the point-of-return, shopping journeys are curated in ways that raise revenue, reduce shrink, or improve sustainability, and predictive analytics are used to help prevent fraudulent and abusive store and e-commerce returns. Engage can be shared by loss prevention, operations, and marketing to address new and emerging omnichannel challenges.”
Appriss Retail made its name using machine learning to help global retailers reduce risk and loss. It now uses real-time AI to open a brand new channel of communication between the retailer and its shoppers.
“Returns are a moment of truth in the relationship between consumers and retailers. Engage helps retailers turn the consumer’s tiresome task into a positive, loyalty building experience. At the same time, it helps uncomplicate omnichannel returns,” said Smith. “Engage works with legacy systems and gives retailers visibility across channels. There is no longer a disconnect between in-store and online behavior—consumers are treated consistently no matter which channel they choose for their shopping or returns.”
About Appriss Retail
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 operations, finance, marketing, and loss prevention. Its 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 150,000 locations (brick and mortar and online) in 45 countries across six continents. For more information about Appriss Retail, visit https://apprissretail.com.