Exclusive: Nexite Platform Update Gives Retailers New Anti-Shoplifting Tools
Brick-and-mortar retail has rebounded post-pandemic, but merchants are facing challenges ranging from theft to inventory inefficiencies. The solution to these issues, according to product digitalization firm Nexite, is bringing e-commerce-style connectivity to the in-store environment.
To support the digitization of physical stores, Nexite is updating its Connected Retail Platform to address a number of retailers’ inventory and visibility pain points while also providing sales staff tools and features that enhance the consumer experience.
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“Inventory needs to be allocated correctly to remove the threat of overstock and stockouts,” Anat Shakedd, CEO and co-founder of Nexite, told Sourcing Journal. “This isn’t a new problem, but between ever-changing consumer behavior, more fashion seasons and an evolving economy, retailers need to be more precise than ever. Understanding item availability, location and performance within days gives room for merchandisers to change the way they manage processes like open-to-buys, store allocation and visual merchandising while also offering the ability to impact sell-through without hurting margins at markdowns.”
Nexite’s connected solutions leverage NanoBT, its proprietary long-range communication technology that can be attached to products to provide real-time data on merchandise. An alternative to RFID, NanoBT does not need batteries and can be read by any smartphone.
Among the new features within the Nexite platform is mobile self-checkout that is electronic article surveillance (EAS) secure to prevent shrinkage. With this, shoppers can scan an item themselves to pay within the store’s mobile application, bypassing traditional checkout lines. “Frictionless mobile self-checkout does not replace personalized customer service, it enhances it with product information, personalized content and authentication empowered by state-of-the-art technology,” noted Shakedd.
The new feature rollout also includes solutions to help frontline store staff boost efficiency by automating inventory and stock management duties. “When store associates are relieved from mundane tasks like inventory counts and shelf replenishment, they can focus more on servicing customers, upselling merchandise and building brand loyalty,” said Shakedd.
Associates can also locate items more easily through live heat maps of the store. “When a customer comes in claiming that the item is in store, no salesperson wants to disappoint them,” Shakedd said. “But without item-level availability and tracking, you may find it hard to locate.”
Nexite has updated its inventory management solutions with expanded automation and features such as more accurate inventory availability and the ability to investigate any discrepancies within the platform.
Amid rampant retail crime, the platform is also introducing enhanced loss prevention features. Nexite has updated its overhead readers with more advanced angle of arrival (AOA) technology for precise merchandise location tracking. Being able to tell where products are moving around the store informs theft prevention activities immediately and for the future.
As an example of how this technology can be used, Nexite saw that one of its merchant clients had a valuable handbag go missing and was able to alert them in real-time and review the footage immediately. The learnings from the video were then shared across the retailer’s stores, alerting staff about a new shoplifting tactic.
“Nexite gives retail owners an understanding of theft behavior and allows staff to be alerted in real-time of any potential threats,” said Shakedd. “If a specific high-value item is traveling the store, you may want to alert sales staff to keep an eye out. Or if you see multiple pieces of the same style heading into the dressing room, you can send over an associate. The idea is that you can identify [the situation] before the [security] gate.”
