- Everseen leverages vision AI technology to combat retail theft, which costs businesses billions annually in losses
- Evercheck can detect and prevent over 30 different theft and loss patterns, from simple "grab-and-go" tactics to sophisticated organized schemes
- Everseen supports the National Retail Federation's Fight Retail Crime Day, promoting collaboration between retailers, industry leaders and lawmakers to enhance community safety
Everseen, a leader in vision AI, is tackling theft with cutting-edge AI technology and marking Fight Retail Crime Day by sharing insights into the surprising techniques that shoplifters use. While some of the names behind these techniques may sound quirky, their impact on retailers is no joke, with retail crime costing businesses billions annually.
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Everseen's Vision AI Solution, Evercheck (Photo: Business Wire)
Retailers face mounting pressure as organized retail crime and opportunistic theft threaten their bottom line. To mitigate these challenges, Everseen provides retailers with AI-powered solutions to detect these issues in real time and take immediate corrective action.
"We're proud to support retailers on Fight Retail Crime Day and every day," said Alex Siskos, SVP of Strategy at Everseen. "By combining advanced AI technology with real-world insights, we empower retailers to stay ahead of evolving theft tactics and protect their operations, not only during the busy holiday season but throughout the year."
Here's a sampling of "Five-Finger Fraud" methods employed by would-be thieves:
- Cart-Based Loss: Intentionally leaving items unscanned in the cart, bypassing payment for those items altogether.
- Hula Hoop: Moving an item above the scanner without scanning it, effectively "hooping" it over the scanner at checkout.
- Abandoned Transaction: Starting the self-checkout process but walking away without completing payment.
- Two-for-One: Scanning one item but carrying two or more through without detection.
- Sweethearting: Employees giving discounts or free items to friends or family at checkout.
- Just Drop: Placing items directly into the bagging area without scanning them.
- Banana Switch: Replacing a higher-priced item's barcode with that of a cheaper item (also known as ticket switching) to pay less.
- Grab-and-Go: Simply taking merchandise and leaving the store without attempting to hide the theft.
- Weight Trick: Manipulating weight sensors by holding or lightly lifting items to avoid triggering the scale during checkout.
- Shelf Sweeping: Clearing an entire shelf of high-value staple items, such as diapers or laundry detergent, for resale.
These theft tactics represent just some of the methods detected and prevented by Everseen's AI-driven technology. Evercheck, the company's award-winning solution, uses vision AI to minimize loss prevention while preserving a positive customer experience. The company has identified more than 30 patterns of theft and loss.
Fight Retail Crime Day is organized by the National Retail Federation (NRF). NRF encourages retailers and lawmakers to collaborate on solutions, promote community safety, and raise awareness of retail crime's impacts on businesses, workers, and the communities they serve.
About Everseen
Everseen is a leader in vision AI, trusted by 11 of the top 20 global retailers. The company is transforming retail by reducing shrink, streamlining operations, and enhancing customer experiences. Everseen's Vision AI Platform has the largest footprint of AI-powered computer vision endpoints and can be applied to a wide range of industries with visual or physical workflows. For more information, visit www.everseen.ai.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241024747072/en/
Contacts:
Treble
Matt Grant
everseen@treblepr.com
