Retail shrink, which measures how many fewer items a store actually has in stock as compared to its recorded inventory, is a problem that has been plaguing retailers more in recent years than ever before. The National Retail Federation (NRF) reported late last year that retail shrink is now responsible for nearly $100 billion in losses for retailers each year in the United States. There are a number of factors that can contribute to retail shrink, but the largest is shoplifting. A national survey conducted by the NRF concluded that 73.2% of retailers experienced an increase in shoplifting in the past year, which highlights the importance of urgently addressing this problem.
This is a companion discussion topic for the original entry at https://www.edgeimpulse.com/blog/ai-joins-the-loss-prevention-team