March 15, 2007
Retail theft on the rise
With employee theft an ever-present concern, and organized retail theft (ORT) on the rise, many retailers are turning to new video surveillance technology for protection.
According to the National Retail Security Survey, conducted by the University of Florida, retailers lost over $37.4 billion to theft in 2005. It was the first time in four years that the rate of retail loss increased. While employee theft is still the largest source of retail loss, organized retail theft is considered the likely cause of the overall increase. Consider that in 2003, the average retail loss per incident was $265. In 2005, that number vaulted to $854. This increase is considered by many to be directly linked to an increase in ORT. Criminals are getting more organized, working in groups to pilfer from warehouses and stores, and they often have a well-thought-out strategy going in. These criminal groups are capable of stealing large amounts of valuable merchandise in a small amount of time.
Retailers are realizing that something must be done to increase security, and many are looking to new technology such as intelligent cameras systems to solve the problem. Intelligent surveillance cameras are equipped with video analytics that can pick up on unusual behavior and suspicious patterns, helping employees to monitor for acts of organized crime. For instance, the cameras will notice if someone is spending an abnormal time in a certain area, or if objects are being moved or left behind.
The survey also found that 40 percent of retail chains polled intend to increase their use of digital video surveillance, incorporating the internet as a tool for monitoring. With IP surveillance overtaking tradition CCTV in recent years, this is a logical step. IP surveillance brings a wealth of benefits including remote access, limitless storage, and improved image quality.
By incorporating new video surveillance technology, retailers can benefit from the industry's many recent advancements. Digital camera systems not only help prevent organized theft, but also work to effectively deter employees from stealing. Retailers are finding that the time to employ this new technology is now.
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Posted by Dan on March 15, 2007 10:01 PM | Comments (0)
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