BEST NEWCOMER New Zealand for 2025 Veesion Ai plugin for existing CCTV security system identifies theft as it happens. Sends instant Alerts with video clips to the store teams. Anonymous Ai overlay. No facial recognition. SYDNEY, Australia, Friday 7th 2025: Veesion is honoured to be named as the winner of the RETAIL RISK BEST NEWCOMER AWARD for New Zealand 2025. This is the second Retail Risk award that Veesion Ai has received having won the same award for the Australian market in 2023. The Retail Risk awards are often referred to as the ‘Oscars’ of the Loss Prevention industry and...

Theft poses a significant threat to stores, not just by eroding the trust between store owners and their customers, but also by negatively impacting the store’s financial performance. To measure the extent and impact of theft, we include it in the store’s shrinkage calculations. This approach helps assess the discrepancy between the store’s theoretical inventory and its actual stock. What is Shrinkage? Shrinkage refers to the gap between a store’s theoretical inventory—what it should have based on accounting records—and its actual inventory. Essentially, it reflects the...

As a quick reminder, shrinkage is the term used in the retail sector to describe the loss of goods. The shrinkage rate measures the difference between the sales turnover a retail business should have made and what was actually made. This rate can be calculated using the following formula: (total cost of losses / sales turnover achieved) x 100. What causes loss of goods? Experts consider the main cause of shrinkage to be shoplifting. What exactly is shoplifting? Shoplifting refers to any act of theft of items from a store. Shoplifting is an issue for all types of retail businesses,...