Everseen, a leading provider of vision AI for global retailers, has announced the results of a commissioned Total Economic Impact™ (TEI) study conducted by Forrester Consulting. The study highlights the significant return on investment (ROI) and efficiency gains delivered by Everseen’s Evercheck solution for retail loss prevention.
According to the study, which includes in-depth interviews, financial analysis, and a composite customer model, retailers using Evercheck over a three-year period can expect:
- 374% ROI
- $88,000 in average annual value recouped per store
- Break-even payback within six months
Evercheck, Everseen’s flagship solution on its Vision AI platform, processes 300 years of video daily. It uses computer vision and AI to identify shrink-related issues, such as unscanned items and product switching, at both self-checkouts and staffed lanes. The system alerts shoppers and store associates to address the issue, reducing loss and improving store operations.
Retail executives have praised Evercheck’s impact. A GM of omnichannel from a multinational retailer said, “Evercheck is exceeding the value we expected to recover.” Additionally, a VP of asset protection at a U.S. regional grocery retailer noted, “Evercheck contributed to thirteen consecutive quarterly drops in shrink.”
The study also found that retailers reported a 15% increase in staff productivity, annual technology cost savings of $300,000, and enhanced customer experiences through ethical AI.
“Evercheck’s ability to reduce shrink and boost operational efficiency is a game changer for our retail partners,” said Alan O’Herlihy, CEO of Everseen. “This study validates our commitment to delivering tangible financial benefits and advancing AI in the retail industry.”
For more details, download the Forrester Total Economic Impact™ Study commissioned by Everseen (Sept 2024).
About Everseen
Everseen is a global leader in vision AI, trusted by 10 of the top 20 global retailers. Its AI platform enhances customer experiences, streamlines operations, and reduces shrink. With the largest footprint of AI-powered computer vision endpoints, Everseen can operationalize AI across various industries. Learn more at www.everseen.ai.
