Despite the best efforts of loss prevention executives, retail crime is on an upward trajectory. According to The D&D Daily, retail crime is
up at least 14% from this time last year. It’s never been clearer that the same old loss prevention tactics just aren’t enough.
Some of the boldest retail LP teams have started using facial recognition to prevent crime, and the results are astonishing. The typical results of using facial recognition? As much as a 34% reduction in external shrink (for a Big Box retailer, that could be tens of millions of dollars per store!). It’s no wonder that The D&D Daily’s Publisher and Editor Gus Downing declared that face recognition is “on an inevitable path to retail adoption.”
The ROI of Face Recognition
So how much can your company save by using facial recognition? We’ve just rolled out a face recognition ROI calculator for retail that guesses how much external shrink you’ll be able to reduce over the next five years. But best of all, it also shows you just how quickly our system pays for itself (hint: it’s usually about 5 months!).
Our calculator can give you results in less than a minute. And while it might seem simple at first, it’s tied to a complex algorithm that can provide you with detailed information like net present value, internal rate of return, and other advanced ROI metrics. If you use our calculator and like what you see, our team is happy to give you a more in-depth walkthrough. We think you’ll be amazed at how quick this tool pays for itself, considering the value it adds.
So whether you’re an executive who is curious about face recognition, or a loss prevention professional looking to prove the value of the face recognition to the C-Suite, our ROI Calculator is the perfect tool to give you deep insight into the impact that FaceFirst can have on your bottom line.
Ready to see how much your company can save with FaceFirst?