Lowe's pioneers system to solve organized retail crime [FOX Business Network]
Lowe's Companies, Inc. (LOW)
Last lowe's companies, inc. earnings: 2/26 06:00 am
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Source: FOX Business Network
Lowe's Companies, Inc. has innovated – and successfully tested – a new system geared towards tackling organized retail crime in a frictionless and almost invisible manner. It's called Project Unlock, and it's a proof-of-concept system that underscores how there are methods to solving this industry-wide problem without having to lock up every product on the shelf, Lowe's Chief Digital and Information Officer Seemantini Godbole told FOX Business in an exclusive interview. BUSINESSES TAKE DRASTIC ACTION TO PROTECT AGAINST RAMPANT SHOPLIFTING, ORGANIZED CRIME THEFTS On average, there was a 26.5% increase in organized retail crime in 2021, costing the industry almost $100 billion, according to the latest data from the National Retail Federation (NRF). So far, the solution has been to lock up products , which Godbole says is "disrupting an enjoyable experience that customers rightfully should have." "As you can see, all the retailers are locking down stuff and putting physical lo
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