The Utilization Of Blockchain Technology To Strive Against Retail Theft

The retail industry is one of essentially the most engaging sectors of the USA economic system. Unfortunately, the COVID-19 pandemic has left the trillion-buck retail sector prone to in-retailer theft.

Findings from the National Retail Federation’s 2022 Retail Safety Look indicate that retail losses from stolen items elevated to $94.5 billion in 2021, up from $90.8 billion in 2020. Some retailers also decide to lock away definite merchandise to stop theft, that would possibly perhaps additionally result in diminished gross sales as a result of buyers’ lack of skill to entry items.