The partnership between Hivewatch and Veesion exemplifies how collaboration can address critical challenges in retail risk management. Together, we identified the growing need for proactive loss prevention solutions in New Zealand and introduced a groundbreaking approach to protecting retailers, employees, and customers. By leveraging Veesion’s cutting-edge technology and Hivewatch’s deep market expertise, this collaboration has created a paradigm shift in how retailers combat theft and safeguard assets.
Identifying the Challenge
Retail theft has been a significant and costly issue in New Zealand, with traditional security measures proving inadequate against modern criminal tactics. Hivewatch and Veesion recognized that the market required an advanced, proactive solution that could adapt to diverse retail environments and prevent crime in real time.
The solution was Veesion’s AI-powered software, capable of analyzing live video feeds to detect suspicious behavior instantly. The collaboration focused on tailoring this innovative technology to meet the specific needs of New Zealand retailers, ensuring it would not only prevent theft but also enhance overall safety and operational efficiency.
Key Elements of the Collaboration
Joint Market Research: Hivewatch and Veesion conducted extensive research to understand the unique challenges faced by New Zealand retailers. This informed the customization of Veesion’s algorithms and ensured a seamless integration with existing systems.
Strategic Rollout: The collaboration adopted a phased rollout strategy, starting with pilot programs in key retail locations. This allowed both teams to gather insights, refine the solution, and demonstrate its effectiveness to potential clients.
Integrated Training Programs: Hivewatch and Veesion worked together to develop comprehensive training modules for retail staff, empowering them to maximize the benefits of the technology and respond effectively to alerts.
Continuous Innovation: The partnership established a feedback loop with clients, enabling real-time updates to the software and ensuring it remained responsive to evolving theft tactics and retailer needs.
Achievements of the Collaboration
The Hivewatch-Veesion partnership has achieved remarkable results in New Zealand’s retail sector, including:
Dramatic Theft Reduction: Retailers using Veesion have reported up to a 70% decrease in theft incidents within the first three months, demonstrating the software’s efficacy in preventing losses.
Enhanced Safety Measures: By detecting suspicious behavior early, the software has contributed to safer environments for customers and staff.
Streamlined Operations: The automation of surveillance tasks has allowed retailers to reallocate resources, improving operational efficiency and employee satisfaction.
Widespread Adoption: The success of the initial rollout has spurred rapid adoption across various retail sectors, from independent stores to large chains.
Innovation in Collaboration
This partnership stands out for its emphasis on shared expertise and innovation. Key elements include:
Adaptive Technology: Continuous updates to Veesion’s software ensure it stays ahead of emerging theft techniques and remains highly effective in diverse retail settings.
Holistic Approach: The collaboration goes beyond technology deployment, focusing on education, support, and long-term partnership with retailers.
Scalable Solutions: The partnership has laid a strong foundation for future growth, with plans to expand Veesion’s reach and functionality based on retailer feedback.
Commitment to Protecting People and Property
At its core, the Hivewatch-Veesion collaboration is about creating safer, more secure retail spaces. By preventing theft and deterring criminal behavior, the partnership helps protect not just merchandise but also the people who work and shop in retail environments. This commitment to community impact underscores the broader value of our efforts.
Hivewatch’s collaboration with Veesion has revolutionized retail risk management in New Zealand, delivering tangible benefits to retailers and setting a new standard for proactive loss prevention. By combining cutting-edge AI technology with a deeply collaborative approach, we have redefined how people and property are protected in the retail sector.
We are honored to nominate Hivewatch for The Retail Risk Best Collaboration Award, confident that this partnership exemplifies the transformative potential of supplier collaboration to achieve shared success and community benefit.