Maximizing Profit and Retail Security with Video Surveillance
The retail sector’s biggest security issue is shrinkage, a term which is used to describe a reduction in
inventory and often used when referring to theft. Video surveillance is by far one of the most
effective strategies for reducing the level of shrinkage through theft, whether it be to catch
customers or dishonest staff in the act of stealing.
Why Use Video Surveillance for Retail Security?
It’s a competitive world out there, so a business needs to use every advantage at their disposal to
remain as profitable as possible. Reducing costs by improving security is just one way to improve
business performance and stay a step ahead of your competitors.
CCTV video surveillance not only helps to secure your products and reduce shrinkage, but it can also
improve the overall safety level of the premises. Suppliers, employees, and customers will all be able
to enjoy a safer and more secure environment, with CCTV also providing a powerful deterrent
against thieves making off with your products.
Unfortunately, wherever there are products on display, there will be shoplifters attempting to take
them without paying. No sector is immune as fashion, pharmacy, furniture, and food stores are
prone to pilfering and theft. With so much stealing going on it's not hard to see how a sophisticated
CCTV system can reduce profit lost through shrinkage.
Many new business owners underestimate the level of diminishing returns which they can
experience through shrinkage, so it’s usually not long before they consider improving their security
and turn to video surveillance as a solution.
Shoplifting happens during opening hours, but the retail sector is still prone to after-hours theft from
break-ins and burglary. Sophisticated video surveillance systems can help in this department as well.
Improvements in Video Surveillance Capabilities
CCTV can detect crime as it happens, and the technology has gotten a lot more advanced than the
blurry greyscale images of a decade or two ago. Digitalization has brought many improvements that
older cameras couldn’t provide including HD and UHD resolutions.
Many cameras are able to capture images in low-light and can provide high-resolution images
capable of producing sufficiently detailed images for facial recognition. This feature affords retailers
the capability to provide evidence for the prosecution of the perpetrators and an increased chance
to recover their stolen property.
Other Benefits for Video Surveillance
Heat mapping has been part of online retailing when analyzing customer behavior on a website.
Applying the same strategy in the bricks-and-mortar sector required hours of employee time to
conduct surveys and physically monitor customer behavior.
Heat mapping can now be collected from suitably equipped cameras, with heat mapping tracking
customer movement throughout the store to indicate “hot” & “cold” areas of activity. The
technology has now reached such a high level of accuracy that it is possible to tell which items on a
shelf are the most popular.
With all the capabilities CCTV cameras can provide, there’s a solution available for all industries
operating in the retail sector. Technology continues to improve the cameras' abilities as well as make
them more affordable for even the smallest operations.