Appriss Retail, a division of Appriss, Inc., provides artificial intelligence-based solutions to help retailers protect margin, unlock sales, and cut shrink. With more than 20 years of retail data science expertise, the company’s Software-as-a-Service (SaaS) platform generates advanced analytical insights and real-time decisions that drive action throughout the organization, including loss prevention, operations, finance, and marketing.
Performance-improvement solutions yield measurable results with a significant return on investment among the retail store, e-commerce, and inventory functions. Appriss Retail serves a global base of leading specialty, apparel, department store, hard goods, big box, grocery, pharmacy, and hospitality businesses in more than 150,000 locations (brick and mortar and online) in 45 countries six continents.
Appriss Retail conducts independent research and shares that information directly with the retail industry and works with associations including the National Retail Federation, the Loss Prevention Foundation, the Loss Prevention Research Council, the Retail Industry Leader’s Association, Retail Council of Canada, and ORIS Forums. In December each year, the company publishes its Consumer Returns in the Retail Industry Report, which is available for download and is the only industry
report to monetize the impact of consumer returns on the industry and state-level economies. In the early summer, Appriss Retail sponsors the National Retail Security Survey (NRSS) produced by the NRF and the University of Florida. Appriss Retail optimizes retailers’ revenue and margin by shaping behavior in every consumer transaction. The company’s solutions use predictive analytics to turn each shopper’s purchase or return into a more profitable experience. This yields immediate financial payback, increasing store comps by as much as 2 percent, with a significant return on investment. The company’s solutions create sizable new sales at the return counter while also building customer loyalty, preventing fraudulent and abusive returns, reducing return rates, and improving shrink.
Appriss Retail draws from the expertise of Ph.D. statisticians and a wealth of retail transactional history to develop its optimization solutions. A pioneer in using statistical models to reduce return fraud and shrink, the company uses sophisticated predictive analytics to identify incentives most likely to keep consumers shopping after making a purchase or legitimate return. Viewing information in real-time, and predicting behavior at an individual level, permits all retail transactions to be optimized to meet revenue, margin, or product sell-through objectives.
Retailers worldwide use Appriss Retail solutions to significantly mitigate losses related to fraud, theft, and operational/systemic breakdowns. The solutions provide immediate insight into the retail organization’s most critical data, allowing them to make informed decisions to reduce shrink, improve profitability, and achieve rapid returns on investment. Appriss Retail solutions provide a comprehensive analytical view of user actions and process inefficiencies across various retail risk areas, including point-of-sale, returns, supply, inventory, finance, pharmacy, and human resources.
When the customer can shop at any channel, decision-making depends on universal access to real-time and instantaneous data analysis. To give retailers the competitive edge they need, Appriss Retail developed a cloud-based data integration platform that pulls data from all retail organization sources, including the very edge of the business. The platform benefits retailers in two ways. First, it offers a unified customer experience across channels and geographies, giving them access to real-time inventory levels and other information that drives purchase decisions. Second, it puts one 360-degree view of customer, inventory, product, price, and location data at employees’ fingertips. The data integration platform is system agnostic and can inform macro systems such as inventory, analytics, CRM, and store-level systems such as staffing and till management.
The pressure is on the retail enterprise to operate mission-critical systems in real-time, but frequently the data infrastructure is over-complicated or nonexistent. Now, users can transition their systems to real-time and in a way that scales from store to global enterprise. RTI (Real-Time Integration) helps consumer-serving enterprises collect and distribute data in real-time using their legacy systems. It is a data integration service that speeds the development and deployment of complex business processes to solve specific use cases, like real-time sales, perpetual inventory, mobile payments, and loyalty award accruals or spending.
Retailers with a global footprint have already implemented RTI. It gives them the flexibility to meet the marketplace’s changing demands without time-consuming, costly architecture overhauls. It also allows them to take full advantage of the data they collect at each consumer point-of-service no matter what system collects the information.
RTI is an integration platform as a service (iPaaS), a suite of cloud-based, low-code services to develop, execute, and govern integration flows among applications. Appriss Retail drives the development and deployment of integrations without installing or managing any hardware or middleware. Users can achieve rapid integrations without a big investment in skills or licensed middleware software. The iPaaS platform is flexible to create a wide variety of integrations, and it is also available if they wish to extend their integration capabilities.