In 2016, more than 438, 032 shoplifters and dishonest employees were caught stealing merchandise by 23 major retailers, according to the Jack L. Hayes International 29th Annual Retail Theft Survey. While shoplifter apprehensions fell 0.2 percent over 2015, dishonest employee apprehensions increased nearly 10 percent year over year. Meanwhile, more than $120 million was recovered from the thieves – up about 2.5 percent from 2015.
The retail loss prevention professional’s role grows by the day. Safety and risk, organized retail crime, fraud, data protection, crisis management, business continuity, supply chain integrity, mobile technology, e-commerce, and workplace violence are just a few of the LP professional’s responsibilities.
Video surveillance systems have some unique requirements that set them apart from other types of enterprise applications. Determining where and how the cloud can support these systems depends on a set of five primary requirements: bandwidth, storage, cost, security and accessibility. This paper outlines some of the key considerations mid- and large-sized enterprises need to examine before deciding to move their video surveillance systems into the cloud — and looks at how they can leverage cloud capabilities for video in the meantime.
Get a complete view of your business with video-based business intelligence.
Inventory management using fixed RFID readers provides accurate, real-time inventory data, which benefits retailers in terms of revenue and gross profit uplift, shrinkage and more. This is why many retailers are implementing an item-level tagging RFID solution for inventory tracking.
Get powerful all IP video recording solution with March Networks 9000 Series IP Recorders. These purpose-built devices deliver the power and performance you need to manage large, IP-only video surveillance systems.
Get the job done faster – from installation to investigation – with March Networks 8000 Series Hybrid Network Video Recorders (NVRs).
Choose from our portfolio of fixed and PTZ IP cameras to get the real-time and recorded video you need for advanced security, loss prevention, liability protection and more. Always clear and proven reliable, these video surveillance cameras will show you what you’ve been missing.
The rate of change in the retail industry is astonishing, as organizations strive to keep pace with omni-channel selling, personalization, and demand for an enhanced in-store customer experience. Retail technologies are evolving at a similarly rapid pace, making it possible to do more than ever with the masses of business and customer data being collected every day.
How security and loss prevention professionals can guide the company toward increased profitability through more wide-scale video adoption.
Is your retail loss prevention strategy as up to date as your inventory, services and marketing? If not, it could be affecting your bottom line. Many companies overlook how newer technologies may impact their loss prevention strategies. Today’s smartphones are a good example. They have emerged as a preferred, and successful, tool of the dishonest. Having a well-defined smartphone policy can help protect your profits.
When budgets are tight, everyone in the organization needs to fight a little harder for a share of the company’s resources. In retail businesses, it’s even tougher for the loss prevention (LP) organization, which is often hard-pressed to justify the value of new technology investments to others in the company.
Why should retailers invest in video surveillance when they could use that money to hire another employee or run a customer promotion? Because a well-designed surveillance system can help them find costly inefficiencies, shrink and other problems in just minutes a day – increasing revenues and profits as a result.