RetailNext Inc., an expert in retail analytics for brick-and-mortar stores, recently announced its next-generation loss prevention solution designed to help retailers reduce shrinkage and maximize profitability. Featuring advanced video surveillance and integrated monitoring and analytics, the new LP solution takes advantage of RetailNext’s retail analytics platform to enable customers to save billons of dollars by:
- Detecting fraud with pre-defined high-risk transactions
- Resolving cases faster with one-click access to transactions, receipts and corresponding video
- Cutting theft by 75 percent or more and reducing shrink 0.2 to 0.3 points
- Saving 40-70 percent in capital expenditures
The solution will be showcased as part of RetailNext’s in-store analytics platform at the NRF Protect Expo, June 24-25 at the Long Beach Convention and Entertainment Center, in booth #1607.
“Loss prevention professionals are being tasked with greater responsibility and accountability for the success of the overall retail business, but with generally smaller budgets and fewer resources,” said Alexei Agratchev, RetailNext’s chief executive officer and co-founder. “The RetailNext in-store analytics platform not only provides LP professionals with state-of-the-art video management, POS exception reporting, asset protection and other LP functions, but does so as part of a comprehensive platform that allows the entire retail enterprise to eliminate single-point solutions and expand ROI with one centralized investment.”
RetailNext’s Loss Prevention solution provides retailers with integrated capabilities including:
- Advanced Video Management –access video, both live and recorded, from all stores in a chain, regardless of location or device, and export and archive video footage for events under investigation.
- POS Exception Reporting – identify trends and access all stores’ transactions; export with one-click exception transactions, complete with corresponding video and POS receipts.
- In-Store Dwells – create “dwell zones” around high-priced and other high-risk merchandise, or at less-trafficked locations in the store, offering real-time alerts to sales associates to assist customers dwelling beyond threshold times.
- Security Event Monitoring – access, monitor and report with time-stamped video and other data for security events like door openings, key pad usages, panic buttons and more
- Web and Mobile Access – access all functionality via a full-featured web client that does not require any installation on user’s PC, as well as native mobile applications for both iOS and Android.
“Shrinkage is a big concern for retailers, as it accounts for almost 1.5 percent of retail sales in the United States,” added Agratchev. “RetailNext is committed to providing the tools that empower retailers to be more effective, and our LP solution has the ability to make an immediate cost-savings impact upon deployment.”