RetailNext Helps Retailers Beat Shrink With Next-Gen Asset Protection Solution
Cloud-based intelligent security system delivers real-time insights to combat theft and fraud.
RetailNext Inc., the worldwide leader in shopper analytics and comprehensive in-store intelligence for modern retailers, today announced the feature expansion of its Asset Protection Solution, an intuitive, purpose-built solution designed to drive value and significantly reduce shrink for the world’s top retailers. RetailNext is set to showcase its innovative solutions and industry-leading expertise at NRF Protect 2022 (Booth #1032) in Cleveland, Ohio from 21-23 June 2022.
Shrink is a $123 billion problem for the world’s retailers, eating up around 1.3% of their total sales — and with organized criminal groups increasingly targeting retailers, conventional security systems are struggling to keep pace. That’s where RetailNext’s comprehensive Asset Protection Solution comes in: using cloud-based technology and powerful AI, it dovetails with stores’ existing camera networks and security systems to deliver on-the-go security capabilities and meet the needs of today’s most challenging retail environments.
By putting security footage and analytics at retailers’ fingertips, we’re giving them the tools to fight back against shoplifting, fraud, and other forms of shrink.”
— Leanne Niu, RetailNext Product Manager
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Armed with RetailNext, loss prevention teams can use an intuitive, browser-based UI to monitor cameras across the store in real-time from their mobile devices, without having to retreat to an isolated back office to examine surveillance footage. RetailNext also integrates seamlessly with POS systems, using advanced AI and image processing technologies to connect shopper video with specific transactions and receipts and to fight employee fraud by automatically flagging suspicious transactions that occur when no shoppers are present. Other teams such as operations can also leverage RetailNext’s integrated service to realize new efficiencies and further boost ROI.
Key new features in the Asset Protection Solution include a modernized, browser-native video UI enabling advanced functionality such as Optical PTZ (pan-tilt-zoom), 360° camera dewarping, and a video maps view for easy navigation. With the new features, users can quickly respond to any suspicious activity by following and zooming in on individual events, speeding up security investigations, and reducing shrink with a smooth and easy-to-use interface.
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The Asset Protection Solution also features powerful local playback capabilities, giving stores the option to stream video to local users securely through their internal network, rather than via the cloud. This provides a highly responsive video viewing experience, while also reducing bandwidth load and supporting low latency playback for advanced features such as Optical PTZ.
“By putting security footage and analytics at retailers’ fingertips, we’re giving them the tools to fight back against shoplifting, fraud, and other forms of shrink,” says Leanne Niu, RetailNext Product Manager. “These added capabilities to the RetailNext Asset Protection Solution are a gamechanger for retailers — a true force-multiplier that works alongside their legacy infrastructure to deliver cost savings and put store managers and security teams in charge of the retail environment.”
