How quickly does face recognition pay for itself? This might be the number one question we get asked by retailers who are considering using our face recognition system.Reactions range from surprised to shocked when we say that the typical retailer reaches a break-even point in 8-10 months and a 2.2X ROI within four years.
This video shows exactly how FaceFirst helps retailers prevent external shrink and in-store violence.
Face recognition offers a faster and more profound ROI than any other retail security investment. So how do we do it?
Next Generation Technology
Face recognition has grown tremendously over the past decade. In fact, we recently unveiled a new generation of our face recognition surveillance system for retail that is 20X more scalable than previous packages, and can offer real-time alerting against databases that are 25 larger than they were previously. It has therefore never been easier for retailers to create a shared threat intelligence across multiple stores. This can help radically reduce shoplifting and ORC, since our data shows that 27.2% of shoplifters return to multiple stores within a chain in a single month. By sharing data across stores, retailers can prevent shrink faster than ever and maximize their ROI.
Hundreds of Retail Deployments
Experience matters! FaceFirst has successfully deployed face recognition in hundreds of retail locations across North America. Over the past four years, we’ve gathered tons of data and developed best practices from working with some of the world’s largest retail chains. And since 2011, we’ve learned from a variety of public safety deployments around the globe and have been able to glean valuable insights brought to the retail sector.
As FaceFIrst CEO Peter Trepp told Loss Prevention Media, “Loss prevention is paving the way, since the ROI of face recognition is so clear and quickly attained.”
Face Recognition Results
External shrink is a multi-billion dollar problem. But FaceFirst has been proven to offer scalable results. Our customers average a 34% reduction in external shrink. FaceFirst keeps stores safer, reducing incidents of in-store violence by 91%.
For a more in-depth look at how we provide customers with a fast and dramatic ROI, you can download our free eBook here.
And if you’d like to learn more about how we help our customers stop retail crime before it starts, download additional case studies here.