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Shoplifters Target Self-Checkout Registers Amid Soaring Inflation
With skyrocketing daily product prices, retailers all over the world are recording an increase in shoplifting incidents.
In addition to alcoholic beverages and other premium goods, shoplifters went after butter, milk, cheese and other daily products.
"The industry is used to a 2% shrinkage rate due to organized theft. Yet in 2022 retailers saw an increase in "accidental"
According to data from major retailers, these first-time shoplifters most often target self-checkout registers. A 2016 joint US retailer and Leicester university study states that losses from theft at locations with self-checkout kiosks are at 4% - nearly double the common industry average.
"Self-checkouts often are the weakest link in retail security. There is also a major psychological factor in play. There is a certain stigma to tricking a human cashier, while fooling a machine is more of a challenge - especially for first time offenders" - tells Saulius Kaukenas.
In 2022 retailers also recorded a major increase in mis-scanned items - when unpacked goods such as avocados turn into onions, as well as intentional incidents, where not all items in the shopping cart are scanned, or product barcodes are switched.
According to a recent 2500 US shopper survey, 20% admitted to intentionally cheating at the self-checkout registers.
"The main reasons for this as most self-checkout systems simply lack the appropriate security measures" - adds Mr Kaukenas.
Retail technology startup ScanWatch develops loss prevention software for self-checkout platforms. ScanWatch uses AI and Computer Vision to automatically identify items scanned at the self-checkout kiosks. This also helps to improve shopping experience, as unpackaged goods - such as fruit, vegetables, baked goods - are instantly recognized, without the need for the shopper to look for the product in the picklist menu. It matches the image of the scanned product to the one in the product database - helping to prevent the switching of barcodes.
ScanWatch already saw deployments with leading retail chains in Poland, Germany and other European countries. The platform is compatible with self-checkout hardware from all major checkout system manufacturers.
About ScanWatch | https://www.scanwatch.ai
ScanWatch develops AI products to improve retail experience. The app by ScanWatch automatically identifies scanned products at the self-checkout counters, reducing checkout time and mitigating checkout fraud.
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