The RealReal reduces asset protection expenses with AI-powered video security
A leading luxury resale platform is leveraging artificial intelligence-enabled video to streamline inventory intake.
The RealReal Inc., an online marketplace for authenticated luxury consignment, is deploying Motorola Solutions AI-equipped video security solutions in an effort to transform its previously manual inventory intake process into a digital workflow.
Leveraging the Motorola AI-enabled video security suite, The RealReal obtains granular visibility into its operations. With dozens of cameras deployed across its facilities, The RealReal filters video footage to locate a single product using intelligent search capabilities based on a physical description.
According to The RealReal, these capabilities suit its needs as a resale retailer where every SKU is unique and it has more than 5,000 one-of-a-kind items in its inventory. The company employs hundreds of in-house gemologists, horologists and brand authenticators who inspect thousands of items each day.
The company says it has converted days of manual searching into seconds of automated tracking by using AI-enabled video, cutting asset protection-related operating expenses by approximately 60%.
"Every day we’re taking in thousands of unique items where no two are the same, and a precise chain of custody is critical," said Robert Cormie, VP, asset protection and facilities, The RealReal. "Historically, it could take days of manual review to find one misplaced item."
In addition, the company can use AI to identify unusual motion or sound across locations to proactively protect merchandise if needed.
[READ MORE: The RealReal increases support for sellers and buyers]
"The RealReal is a perfect example of how AI transforms the back-of-house," said Scott Schoepel, VP, video security vertical sales, Motorola Solutions. "Retailers need a leaner, more resilient model in today’s era of rising labor and theft costs. Automating the security lifecycle of every item allows The RealReal to turn video security into a driver of efficiency and profitability, helping protect millions of dollars in merchandise while running a smarter, faster business."
The RealReal is the world’s largest online marketplace for authenticated resale luxury goods, with more than 40 million members, and provides free virtual appointments, in-home pickup, drop-off and direct shipping. TheRealReal handles all of the work for consignors, including authenticating, using AI and machine learning to determine optimal pricing, photographing and listing their items, as well as shipping and customer service.
