DTiQ deployed a low-cost, fully-customized, full-service loss prevention program for the retailer at all store locations within the U.S. In addition to the many benefits of the solution, the retailer also leveraged DTiQ’s nationwide presence that enabled them to respond faster to individual stores. Working together with the retailer’s district managers, DTiQ developed action plans, including frequent audits using Exception Based Reporting and in-store audits that reduced the shrink rate by 50 percent. By the end of the program, the retailer witnessed earnings improvement of approximately $3.6m annually after the cost of the program, which was a big win for them.
In this example the vision for DTiQ is clear—by combining state-of-the-art surveillance equipment with advanced, cloud-based analytics and managed services, DTiQ strives to improve how retail locations are managed. “We at DTiQ always say: smarter store better results” asserts Mike Coffey, the CEO of DTiQ. “As such, we offer retail-specific business intelligence solutions that help retailers transition to a smarter store and transform their business. We’ve done this with a big focus on loss prevention, which is an under-served area for the speciality retailer, and we’ve rapidly expanded into guest experience and employee engagement programs. Retailers today are concerned about total loss and top line as much as shrink.”