Loss Prevention Solution for Retailers
Returns fraud is an $18.4 billion problem.
According to the National Retail Federation, inventory shrink from theft, shoplifting, and fraud cost the U.S. retail economy $46.8 billion in 2018. Annual losses from merchandise returns fraud account for $18.4 billion of the total.
IDWare Profit is the solution.
IDWare.Profit is a powerful loss prevention solution custom for retailers and grocers. Its three modules prevent loss and fight fraud:
- Returns. Collects returns activity for each customer
- Timers. Requires employees to perform routine aisle checks
- Vendor Management. Tracks vendors entering and exiting your building
IDWare Profit is kiosk-based and uses secure cloud storage to share data across all locations. All data is available in the web-based admin portal.
Learn More About IDWare Profit
IDWare Profit in Action
IDWare Profit was developed in partnership with Rouses Markets for its 65 stores on the Gulf Coast. During the first 5 weeks of its IDWare Profit pilot, Rouses saw the following results at its 5 participating stores:
- 36% reduction in total return value
- 5.7% denial or incomplete returns
For Further Reading
Understanding and Addressing Retail Inventory Shrinkage
December 17, 2019
Inventory is the lifeblood of retailers. It represents the investment made by the company and the source of future income. In an ideal world, retailers would sell all of the inventory they have purchased. In reality, things happen to inventory. More specifically, inventory shrinkage happens. Read more.
The highly-anticipated launch of IDWare Profit comes on the heels of a successful pilot program with Rouses Market, a 65-store grocery chain in the Southeast U.S. In the first five weeks of its five-store pilot, Rouses reduced returns by 36% at participating stores. Read more.
5 Applications for ID Scanning in a Retail Environment
January 8, 2019
IDScan.net offers ID scanning solutions for a wide variety of industries, and the industries we serve have found equally wide range of uses for our technology. While the uses of ID scanning vary, our technology can generally be broken into two categories: 1) ID parsing and 2) ID validation. IDScan.net’s technology allows our customers to scan government-issued IDs—including driver’s licenses, military IDs, and passports—to automate data collection and verify the ID is real. Read more.
Technology and the In-Store Customer Experience
December 19, 2018
Contrary to the so-called retail apocalypse, the retail industry remains a force to be reckoned with. IDScan.net’s retail clients will tell you this, as will the attendees at NRF’s Retail Big Show next month in New York. The industry may look different than it did five, ten, or fifty years ago, but what industry hasn’t been affected by technology? Read more.