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Impact on Retail Shrink and Customer Experience
Retail “shrink” — the industry term for inventory loss — costs retailers billions each year. While mentions of shrink on earnings calls have dropped, according to AlphaSense data, the problem remains significant.
Traditional countermeasures, like locking up products, often backfire, hurting sales and customer satisfaction. Veesion’s approach aims to keep the shopping experience smooth while adding a subtle deterrent effect.
“It has an internal deterrent effect,” Koenig explained. “They know there is an AI in the cameras, so they’re going to be careful with what they do.”
Funding and Global Expansion
Founded in 2018, Veesion now operates in over 5,000 stores across Europe, Canada, and the U.S. The company recently closed a €53 million ($43 million) Series B round (EU-Startups), fueling further U.S. market penetration.
Koenig noted that his personal connection to retail — his uncle runs three supermarkets in Paris — gave him insight into the day-to-day challenges of theft prevention.
