IP Surveillance to Answer the Upward Trend in Retail Shrinkage

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Retail is one among those few industries where shrinkage is getting worse, day by day. Shoplifters and dishonest staff continue to steal in record numbers.

According to an Annual Retail Theft Survey, in 2013, the number of recovery dollar and apprehensions increased for both dishonest employee and shoplifters. The apprehensions were up by 6.5% and 2.5% respectively.

Highlights of the Survey:

  • Participants were 23 retail giant with 23,204 stores.
  • Total 1,180,720 dishonest employee and shoplifters were apprehended in 2013–an up by 2.8% from 2012.
  • Over $199 million was Recovered—again an up by 4.0% from 2012.
  • One in every 39.5 employees was apprehended by their employee in 2013 (the survey was done on over 3.0 million employees.)

For those retailers who are still without video surveillance, skipping on an old technology of analogue security cameras and joining hands with new age technology and IP camera solution is an ideal choice. Since the price of the IP security cameras came down, and owing to the fact that one IP CCTV camera is equivalent to two or three analogue cameras coverage, the cost difference between both is no longer a decisive factor.

What If I Already Have An Old Analogue CCTV Solution?

IP Cameras for Retail Shrinkage
Heavy Duty Laser PTZ System Camera

If you already have an analog security camera system installed and you are looking towards improving the video quality with an added advantage of video analytics, replacing only the coax cabling may not do the job. It would be more cost effective if you use IP cameras with media converters and existing cables.

Other cost effective alternative system could be having a mix of the both analog CCTV cameras and IP cameras. Use IP cameras at sensitive areas like cash registers, etc. Most of today’s Hybrid DVRs are versatile enough to handle both IP and analog cameras while offering POS integration and video analytics.

Why an IP Camera System?

In recent times, intelligent video surveillance has become very economical. The latest technology in video analytics now easily assimilates with cash register transaction data and it also has made it possible for the retailer managers and CEOs to do the monitoring tasks even remotely which was almost impossible before. Such as:

  • Quickly search and find doubtful or suspected transactions
  • Monitor the store’s opening can closing times.
  • Monitor employee behaviour and dress code.
  • Make sure that customer service guidelines are followed.
  • Monitor other operational standards of retail industry.

Have you also witnessed shrinkage and theft in your retail store? Does you security related needs are still dependent on an old or non-existing security camera system and are thinking of replacing with an internet camera system, but you are confused and what would be best for your need? Contact dvrunlimited—we can help.