CCTV: helping retailers in the fight against theft

Launched last week, the 2011 Global Retail Theft Barometer 1 (GRTB) reveals that shrinkage cost UK retailers GB pound 4,890 million in the last year, up from GB pound 4,417 million in 2010 – even though spending on security solutions has risen by 4.3% in the UK to reach GB pound 1,019 million.

Commenting on these figures, Atul Rajput – retail business development manager at Axis Communications – stated: “Despite an increase in the adoption of security technologies, theft is still on the increase. Of course, an effective loss prevention strategy ought to evaluate new technology, but shouldn’t simply adopt the ‘latest and greatest’ products. Retailers need to harness solutions which can deliver tangible benefits and reduce costs.”

This is particularly relevant given the challenging economic climate and the fact that the GRTB also reveals that 25% of European retailers intend to invest in new video surveillance systems over the next 12 months.

Rajput continued: “IP surveillance is central to this as it produces clear and versatile footage while reducing both implementation and maintenance costs when compared to older analogue systems. In fact, earlier this year we commissioned a report produced by the Centre for Retail Research which suggested that 71% of overall retailers and 87% of larger retailers are set to adopt network video in future loss prevention strategies.”

Clearly, retailers are becoming increasingly aware of the benefits associated with network video technology.

Shopliting remains biggest threat to retailers

Shoplifting still continues to pose the biggest risk to retailers, costing them GB pound 2,146 million. However, employee fraud and ‘sweethearting’ (whereby staff give unauthorised discounts or aid theft at the tills) are on the increase and, indeed, closing the gap at a hefty GB pound 1,765 million.

“The majority of this fraud takes place at the till, which is very hard to police,” explained Rajput. “However, IP technology can monitor what is put through the till and compare this to data from Electronic Point-of-Sale (EPOS) terminals as both sit on the network.”

In addition, new software analytics have been developed that work with IP cameras which are able to detect ‘non-scans’ at the till.

“This means that these next generation CCTV systems are not only able to provide hard and fast evidence if staff are being fraudulent,” asserted Rajput, “but they can also identify losses associated with process or technology-related issues.”

According to Rajput, Axis Communications’ own HDTV network cameras can be installed more cost-effectively and therefore allow security budgets to stretch even further.

“HDTV network cameras offer a minimum resolution three times greater than the analogue CCTV cameras used within many stores today,” he stated. “This means that positive identification can be made faster and even the smallest of details can be picked up, such as the slight of hand of a shoplifter or an opportunistic member of staff.”

In conclusion, Rajput told Info4Security: “Additionally, better image quality means that retailers can now benefit from improved security coverage while using fewer cameras.”

Webinar on retail security

Tomorrow at 3.00 pm, Info4Security begins a new series of webinars. The first is run in conjunction with Axis Communications and focuses on the part network video can play in enhancing retail security.

For a synopsis of the event click here and to register access our dedicated registration page

Reference

1The Global Retail Theft Barometer is research and published by Professor Joshua Bamfield, director of the Centre for Retail Research in Nottingham, and is funded independently by Checkpoint Systems