Retailers are already using multiple disclosure methods, including signage at entrances (44%), which 64% of consumers find helpful.
Everseen, a specialist in vision AI, has released a report revealing retailers’ plans for rapid AI deployments alongside the critical need for transparency and consumer trust.
Based on a survey of 200 loss prevention retail executives and more than 1,000 US consumers, this shows that:
- 63% of retailers say AI is critical to maintaining a competitive edge, and they expect an average 51% return on investment from AI deployments within the first three years.
- 55% of consumers are comfortable with AI and advanced retail technology, and 65% say AI makes shopping more convenient.
- 85% of consumers believe theft contributes to higher prices, and 60% of retailers have already turned to AI to address the issue.
- 72% of consumers want greater transparency about use in grocery and retail stores. Retailers are already using multiple disclosure methods, including signage at entrances (44%), which 64% of consumers find helpful. Half of consumers also cite self-checkout pop-ups as effective.
“AI is already transforming retail, driving efficiency, reducing shrink, and enhancing customer experiences,” said Alan O’Herlihy, CEO at Everseen. “It’s encouraging to see the shared perspective of consumers and retailers on how AI can improve the shopping experience. The insights from this report can help the industry align on key success factors for AI, including measurable impacts on shrink reduction and the importance of transparency.”
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New Everseen report sees retailers and consumers weighing in on the future of retail AI
AI is already playing a major role in loss prevention, with 60% of retailers having implemented AI and another 30% planning to do so within the next year. Consumers are equally attuned to the issue – 74% believe theft leads to store closures, and 59% believe AI technology, such as product recognition at checkout, can help reduce it.
Retailers rank better customer service and support (31%) and improved store layout and navigation (31%) as top benefits. Consumers see AI improving their experience through faster checkouts (44%), better inventory management (43%), and more personalised shopping (24%).
Despite the optimism, AI implementation does come with challenges. Retailers cite time and resources for training (47%), customer acceptance and trust (46%), and integration with existing systems (44%) as key hurdles.
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