In case you missed it, EuroShop 2023 has just taken place, leaving food for thought for those in retail. Sensormatic reports that their conversations with retail leaders from around the globe yield insights into what customers want and what retailers need to deliver it. 

Digital Transformation – retailers have been pursuing seamless experiences through digital solutions for some time now, and last month, at NRF’s Big Show, American retailers shared their plans to expand budget allocations for in-store technology—EuroShop’s attendees seemed similarly excited about investments in digitalisation and technology.

AI will define retail’s next era.

Conversations at EuroShop focused more on how computer vision tools may help retailers optimize their operations. The industry has seen these tools evolve from fantasy to reality since EuroShop’s last event, and retailers from all over the world were eager to share how AI is helping them curate better shopper experiences.

Sensormatic demonstrated the latest offerings of their Computer Vision and other AI technology on the show floor, illustrating how intelligent, connected solutions can provide operational insights that help retailers optimise labor allocation, strengthen loss prevention programs, keep employees and shoppers safe, and provide visibility into shopper experiences.

Sustainability reigns supreme.

Sustainability was front and center at EuroShop 2023, with the venue, exhibitors, and speakers getting in on the conversation. Messe Dusseldorf produced a dedicated stand, “THINK SUSTAINABLY – ACT RESPONSIBLY,” in conjunction with collaborators like the International Federation of Exhibition and Event Services to help retailers learn how to extend their sustainability work outside of stores. This topic was also highlighted at Sensormatic’s stand, as they showcased ways retailers can use existing technology to reimagine what it means to operate sustainably. Their connected systems highlight areas of opportunity that go far beyond recycling or using paper bags. 

Loss prevention is leading innovation.

Interest in strengthening loss prevention programs was also common among retailers at the show. Over the past three years, technology that mitigates shrink due to fraud and retail crime has advanced significantly, and retailers looking to control losses in the face of a rising number of theft events have made notable investments in these systems. The event featured a speech by Toshiba Global Commerce Solutions Innovation Consultant James Frank on the evolving role of self-checkout in loss prevention programs. Their new self-checkout solution offers an alternative to more traditional, high-risk kiosks. This tool, which is designed to eliminate register queues and streamline shopper experiences while facilitating secure, at-the-rack checkouts via customers’ mobile devices, is just the latest to help retailers protect people and merchandise.

Additionally, it’s important to focus on creating a traceable food chain and providing accurate information in a timely fashion. This means compliance, efficiency and loss prevention through standardisation and digitalisation. Sensormatic Solutions Digital Food Safety helps retailers combat stock loss and food waste as well as assists with compliance by monitoring product storage temperatures, both hot and cold. 

Time to Work 

The world has changed, and retail has made an incredible effort to change with it. With the industry’s biggest events in the rear view mirror, it’s back to the grindstone for those supplying solutions to retailers.