Hivewatch’s strategic decision to bring Veesion to New Zealand was driven by the rising need for advanced, AI-driven solutions to combat retail theft. Veesion leverages state-of-the-art artificial intelligence to detect and prevent theft in real time. Unlike traditional security solutions, which often rely on post-incident review of footage, Veesion’s software proactively identifies suspicious behaviors by analyzing live video feeds. The software’s ability to detect theft-related activities, such as concealment or tampering with merchandise, empowers retailers to take immediate action, significantly reducing losses.
Market Need and Opportunity
Retail theft in New Zealand has become a growing concern for businesses of all sizes, with shrinkage rates cutting deeply into profit margins. Before the introduction of Veesion, many retailers relied on conventional CCTV systems that required manual monitoring or retrospective analysis. This approach was labor-intensive, error-prone, and often insufficient to prevent theft effectively.
Recognizing the gap in the market, Hivewatch identified Veesion as the perfect solution to address these challenges. The software’s ability to integrate seamlessly with existing CCTV systems and provide real-time alerts offered a transformative approach to retail risk management.
Launch and Implementation
The launch of Veesion in New Zealand by Hivewatch involved a comprehensive strategy focused on education, demonstration, and partnership. Our team worked diligently to introduce the software to retailers across the country, emphasizing its ease of use, compatibility with existing infrastructure, and immediate ROI potential. Key milestones in the launch included:
Market Education: Hivewatch organized workshops and webinars to educate retailers about the capabilities of AI-driven solutions and how Veesion could revolutionize their approach to loss prevention.
Pilot Programs: Several leading retail chains were invited to participate in pilot programs, allowing them to experience the software’s effectiveness firsthand. Feedback from these pilots was overwhelmingly positive, with participants reporting up to a 70% reduction in theft incidents within the first month of use.
Ongoing Support: Hivewatch established a robust support framework to ensure smooth onboarding and continued success for all clients. This includes 24/7 technical support, regular software updates, and tailored training sessions for retail staff.
Impact and Results
Since its introduction, Veesion has had a significant impact on the New Zealand retail sector. Some of the key outcomes include:
Reduced Theft: Retailers using Veesion have reported substantial reductions in theft incidents. By providing real-time alerts, the software enables staff to intervene before losses occur.
Increased Efficiency: Store managers have noted that Veesion’s automation of monitoring tasks allows their teams to focus on other critical aspects of store operations, improving overall efficiency.
Enhanced Safety: By identifying suspicious behaviors early, the software helps create a safer environment for both employees and customers.
Cost Savings: The reduction in shrinkage and operational inefficiencies has translated into significant cost savings for retailers, with many achieving ROI within months of implementation.
Innovation and Differentiation
What sets Veesion apart is its unique combination of AI sophistication and user-friendliness. The software’s ability to learn and adapt to various retail environments ensures high accuracy in detecting theft, minimizing false positives. Moreover, its seamless integration with existing systems makes it an accessible solution for retailers of all sizes, from small independent stores to large chain supermarkets.
In addition, Hivewatch has demonstrated exceptional innovation in tailoring Veesion’s capabilities to meet the specific needs of the New Zealand market. For example, we have worked closely with clients to customize the software’s alert settings and reporting features, ensuring maximum relevance and usability.
Commitment to Excellence
Hivewatch’s commitment to excellence goes beyond the technology itself. Our team has been instrumental in fostering a culture of proactive risk management among New Zealand retailers. By advocating for the adoption of advanced solutions like Veesion, we have contributed to raising industry standards and empowering businesses to protect their assets more effectively.
In just 12 months since its launch in New Zealand, Hivewatch’s introduction of Veesion retail theft software has transformed the landscape of retail risk management. By addressing a critical market need with an innovative and impactful solution, Hivewatch has established itself as a leader in the industry. We are proud to nominate Hivewatch for The Retail Risk Management Best Newcomer Award, confident that our achievements exemplify the criteria for this prestigious recognition.
Thank you for considering our nomination. We look forward to continuing our mission of delivering cutting-edge solutions that make a tangible difference for retailers in New Zealand and beyond.