Phil Smith, Ex-Disney, joins Extenda Retail as new Director of Loss Prevention Solutions

Extenda Retail announces new Director of Loss Prevention Solutions to combat shrinkage for retailers.

Stockholm, Apr 10, 2024

Extenda Retail - a leading provider of cloud-native point of sale (POS) solutions, is thrilled to announce the hiring a new Director of Loss Prevention Solutions Phil Smith. Phil joins Extenda Retail with over 25 years of experience in the retail industry, working for brands such as Virgin and Disney heading up the Risk and Loss Prevention function for direct-to-consumer, including teams from Loss Prevention, e-commerce fraud, Health/Safety, and Business Risk and Analysis.

“With margins being under such significant downward pressure, retailers are looking for ways to maintain profitability in a challenging market. We are delighted to welcome one of the industry’s most prominent thought leaders to the Extenda Retail team to help shape our strategy for managing retail loss," says Mohit Paul, Chief Commercial Officer at Extenda Retail.

With customers demanding more and more flexibility in the way they shop, and with IBM reporting that 71% of consumers still want to use self-checkouts, retailers must level up their SCO offering by reducing friction and enhancing security – or risk being left behind.

Extenda Retail’s best-of-breed loss prevention engine can be implemented alongside any point-of-sale (POS) application. It includes the latest machine learning (ML) technology to identify suspicious behavior, prevent loss and reduces shrinkage, and at the same time boost brand loyalty via personalized customer experiences.

“Loss Prevention has never been as high up as it is now on C-Suite agendas with loss, threatening behavior, and profit erosion a real and present risk to the commerciality of businesses, joining Extenda Retail my job is to transform European retailers POS from a shrinkage hotspot to a competitive advantage”, says Phil Smith.

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