Veesion Ai wins second RETAIL RISK Award

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 7^th 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 the Best Newcomer Award recognises the most exciting new solution to enter the retail risk and loss prevention arena.

Veesion Australia NZ, continues the expansion of its business across Australia and New Zealand with engagement with both franchise groups and large retail chains.

Neil Hucksteppe, Director Veesion Australia NZ noted that with the current ‘cost of living crisis’ escalating, unfortunately, retail shoplifting is also skyrocketing. Based on statistics released by the NSW government, there has been a significant 23.7% rise in store theft incidents during the year 2022 when compared to 2021.

The Australian Institute of Criminology found that the impact of retail theft corresponds to a loss of approximately 2% to 3% of total sales. While the Australian Retail Association in its most recent report reaffirmed that theft in the retail sector typically accounts for around 1% to 3% of gross sales. In the most severe cases, this level of loss can reach up to 25% of a business’s net profit.

Ultimately, these losses to store theft add to the cost for retail customers as stores attempt to cover risings loses”

Existing Veesion retail customers globally have reported reduction in their instore theft by over 60% with Veesion’s Ai ‘plug and play’ theft detection solution.

Veesion Ai real-time theft detection solution is a simple ‘plugin’ connected to the existing in-store CCTV security system and designated cameras.

Veesion Ai automates theft detection by anonymously analysing the existing store CCTV video streams in critical areas within a location, to identify suspicious activity and then instantly delivers a notification alert with video clip to the designated store management or security personnel in real-time. 24/7.

Veesion Ai does not use facial recognition, customer tracking or identity registration.

Veesion Ai uses its unique active deep learning technology to constantly improve its analytic performance as it continuously analyses the CCTV video data, so that the Veesion Ai rapidly learns any peculiarities of its specific store and/or aisle location.

Store teams can change parameters as required and Veesion Ai can be configured to recognize legitimate shopping bags, baskets, and shopping carts.

“The experience of our global customers confirms that Veesion AI can dramatically assist ANZ retailers to limit their losses to theft on a similar scale to that seen in stores across Europe, reducing in their instore theft by over 60%. Savings that can be passed back to the consumer” Mr Hucksteppe, Director Veesion Australia NZ said.