Inventory loss through shoplifting or internal theft, unsuccessful in-store promotions, even long lines at the register – all of these are pain points for retailers and can seriously impact the bottom line.
As a key part of a loss prevention program, retailers have installed cameras to be the eyes in the store, acting as a deterrent through the very visible presence of the cameras mounted above registers, near doorways or in restricted areas. Of course, these cameras also present live and recorded images of potential situations that can be used to catch people in the act of committing a crime and serve as a forensic tool after the fact.
Because of the underlying concern about in-store shrinkage, retailers have made surveillance a priority through the adoption of basic video systems. Yet merchants are just now beginning to explore opportunities for video beyond security – something that can be achieved with the installation of IP camera technology.
According to a 2014 Centre for Retail Research survey on the use of CCTV video in U.K. retail settings, more than 60 percent of store operators who responded indicated they were planning to adopt network IP within the next three years, while one-third had already adopted it.
While addressing customer theft remained a major security challenge for retailers, respondents also cited preventing internal theft and better safety as reasons to improve their video systems. Additionally, those surveyed listed quality of image as an important reason for switching to network video.
But nearly half of the respondents also cited non-security applications, such as people counting and queue management for making the move to IP, noting these video-related tools could be used to improve sales and marketing.
It is apparent that IP video within retail stores can serve many purposes: So what are some of the ways in which retailers can best leverage network video?
Read the full article online at Security Magazine.