When you peek under the hood of each point of sale, each store, and each retail organization, there are many actions and processes enabling its functionality and operation

Modern surveillance systems surpass traditional CCTV cameras, incorporating advanced features such as high-definition video, remote access, and artificial intelligence (AI).

Retailers striving to deliver frictionless shopping experiences aim to remove barriers such as long checkout lines to create a smooth journey

Big data and predictive analytics are powerful tools for identifying and mitigating loss risks. By analyzing vast amounts of data, retailers can uncover patterns and trends that indicate potential shrinkage areas.

AI and machine learning (ML) are at the forefront of modern loss prevention technology, offering unprecedented capabilities in detecting and preventing retail shrinkage.

Radio-frequency identification (RFID) technology has revolutionized inventory management and loss prevention. RFID tags containing electronically stored information can be read remotely using radio waves.

POS systems are not just for processing transactions but also valuable tools for loss prevention. Advanced POS analytics can detect patterns indicative of fraud or theft.

Retailers striving to deliver frictionless shopping experiences aim to remove barriers such as long checkout lines to create a smooth journey

While self-checkout systems offer convenience for customers, they also present new challenges for loss prevention. Advanced self-checkout technologies incorporate features designed to minimize theft and errors.

Loss prevention (LP) in retail encompasses all measures taken to reduce theft, fraud, and other forms of shrinkage that negatively impact profitability. According to the National Retail Federation (NRF), shrinkage cost the U.S. retail industry $112 billion in losses in 2022, up from $93.9 billion in 2021. This emphasizes the critical need for effective loss prevention strategies.

Trigo is a computer vision AI company working with global retail and logistics clients tackling their everyday challenges, including Loss Prevention, Theft, Store Management, Customer and Employee Experience, and more.

The retail industry has seen a significant transformation in loss prevention techniques with the advent of advanced technology. These innovations provide more efficient, accurate, and proactive measures to combat theft and shrinkage.

The retail industry is a dynamic and fast-paced environment with thin margins and fierce competition. One significant challenge retailers face is loss prevention—strategies and technologies used to prevent theft, fraud, and inventory loss. With advancements in technology, retailers now have many tools at their disposal to combat these issues effectively. This blog post explores the various facets of loss prevention technology in retail, highlighting the latest innovations and their impact on the industry.

When you peek under the hood of each point of sale, each store, and each retail organization, there are many actions and processes enabling its functionality and operation

Before diving into modern technological advancements, it’s essential to understand traditional loss prevention methods, which laid the foundation for current practices.