Levels of theft and organized retail crime (ORC) have reached unprecedented levels in recent years—and responding to them requires an equally unprecedented approach.
The good news is that the information you need to reduce shrink and combat ORC may be hidden today right in your stores; you just need the right tools to find it.
Gaining shrink visibility is the key to contextualize this treasure trove of theft and loss data, and the cloud-based Shrink Analyzer application from Sensormatic Solutions is the game changing, AI‑enabled tool that can help you transform that information into meaningful shrink fighting insights.
Shrink Analyzer allows you to make sense of your loss event data to reveal never‑before-seen insights into the “who, what, where, and when” behind shrink.
“Before this application, accessing these insights was simply not possible,” said Ned McCauley, retail technology business consultant at Sensormatic Solutions. “Shrink Analyzer can now definitively identify the root causes of shrink across your stores, assess the scale of the situation, and develop strategies to help you mitigate it.”
With this previously unexamined shrink data now collected and analyzed from your stores’ Electronic Article Surveillance (EAS) system, Radio Frequency Identification (RFID) sensors, and video surveillance, you’ll be able to:
- Protect Your Profits: Shrink Analyzer reveals your stores’ at-risk items and identifies ORC trends that lead to stronger LP actions.
- Combat ORC without Confrontation: Receive manager alerts to identify theft event trends and compile comprehensive evidence packages to send to law enforcement fast.
- Reduce Out-of-Stocks: Shrink Analyzer’s automated synchronizing of inventory item-level data and RFID exit system tracing can be leveraged to aid product replenishment.
Of course, these are just the tip of the iceberg. Keep reading for a closer look at how Shrink Analyzer can help you do more with your data to achieve all these results and more.
Do More with Data
It’s a strategic initiative organizations have been dealing with across virtually all industries: Gathering data can deliver a competitive advantage—that’s understood—but truly getting the most out of your data is far less obvious.
While gaining visibility into your inventory by attaching RFID can provide the foundational data you need to enable your loss prevention strategy, you’ll need new next-gen capabilities to architect its design. That’s where the Shrink Analyzer application from Sensormatic Solutions comes in.
Through AI-enabled analytics, Sensormatic Solutions’ SaaS Shrink Analyzer application transforms data collected across your stores’ systems into never-before-seen insights into shrink so you can understand the “who, what, where, and when” behind every loss event.
Get to the Root Cause of Shrink
What’s really driving shrink across your stores? Thanks to item-level data collected and contextualized by Shrink Analyzer from your stores’ RFID sensors, video feeds, transaction logs, and other key points of operation, you’ll gain visibility into each loss event.
What does that look like in practice? Think: A shopper has just walked out of a self-checkout station without paying for an item. Through the Shrink Analyzer application, a store manager receives a notification on the precise items that passed through the exit sensors. Then, at their computer, Shrink Analyzer isolates and gathers video of the act from the store’s security system and compiles it into a comprehensive evidence package for law enforcement.
These previously unexplored insights can not only help you react to loss events faster and with greater efficacy—they can help you pinpoint root causes quickly and develop and test your mitigation strategies just as fast.
Shrink Analyzer’s ability to provide actionable insights behind shrink can also be channeled to inform loss prevention teams on what’s working and what isn’t. This makes it easy to test two strategies against each other or discover more quickly whether a newly deployed tactic is making an impact on shrink. By “getting to effective” faster, you’ll be able to deploy what works and pilot new concepts while minimizing further losses.
While these capabilities benefit loss prevention teams of all sizes, lean teams may find it especially beneficial.
“Shrink Analyzer allows smaller loss prevention teams to perform with the same swiftness and breadth of a larger organization,” said Jamie Kress, director of RFID sales, North America, at Sensormatic Solutions. “Small teams can now draw big insights from the data at their disposal. Cases that used to take months to close can now be completed in weeks—and for potentially higher dollar amounts.”
Combat ORC without Confrontation
Theft and ORC thrive in environments where the reward outweighs the risk. That’s why enhancing deterrence has emerged as a strategic priority for loss prevention leaders looking to thwart ORC. Unfortunately, cases of theft frequently go unsolved due to lack of resources or evidence. Once conviction rates increase against acts of ORC, retailers can begin cultivating stronger deterrence environments, and the Shrink Analyzer application can be a key tool to achieving that end.
Shrink Analyzer can generate clear evidence packages after a loss event so you can provide law enforcement with key evidentiary materials like time-stamped video evidence from the exit to assist loss prevention investigators and law enforcement when pursuing cases, and, ultimately, deterring future shoplifters.
With everything from notification to evidence gathering occurring digitally behind the scenes, you’ll be able to identify and respond to theft events without jeopardizing the safety of store associates or rousing the suspicion of shoplifters.
Data That Lets You See
Data empowers retailers to take a more proactive approach to combating ORC, which can be key to turning back the tides in their favor. Actionable data through the Shrink Analyzer application provides the speed, accuracy, and process automation needed to make meaningful inroads against ORC.
By allowing you to see who is shoplifting, the products they’re taking, and from which areas of the store, you’ll gain a clear and unbiased view into shrink. Often this view can be eye opening, revealing gaps between the perceived and actual shoplifter profile and the merchandise categories at risk. Shrink Analyzer reveals this true picture, allowing you to re-target your loss prevention tactics based on accurate, contextualized data you can trust.
“There are new data-driven tactics when responding to theft and shrink events” said Eric York, business analyst at Sensormatic Solutions. “Current ORC tactics are too dangerous, and shoplifters will just find new ways to adapt to added friction in stores. Shrink Analyzer allows you to identify shrink patterns faster so you can find solutions that prevent theft from occurring in the first place.”
Get Started with Shrink Analyzer
Ready to stop shrink in its tracks? The cloud-based Shrink Analyzer application from Sensormatic Solutions helps you transform loss prevention data from your stores into actionable tactics to protect your profits, improve store safety, optimize loss prevention operations, reduce out‑of‑stocks, and more.
By leveraging AI-enabled analytics, video surveillance, and comprehensive evidence packages, Shrink Analyzer, together with Sensormatic Solutions’ unparalleled consultative services and customer support, empowers you to uncover the root causes of shrink, test mitigation strategies efficiently, and support law enforcement investigative efforts in your area.
Explore all the ways Shrink Analyzer can be put to work to reduce shrink and combat ORC at your stores at sensormatic.com.