Loss prevention has become one of the retail industry’s biggest challenges. Shoplifting has risen by 23% in the past year, and was estimated to cost UK retailers almost £11 billion annually – higher than any other country in Europe, and resulting in a 1.1% annual turnover loss.
Research shows, however, that using security cameras resulted in significant decreases in shoplifting, stock shrinkage and restoration to retailer’s bottom-line. 58% of retailers said they saw reductions in shoplifting when employing these preventative measures, with a further 10% stating they eliminated it entirely.
But how can retailers better handle loss prevention with the use of video surveillance?
Agilitas has partnered with Solink, a world-class business that provides trusted, cloud video surveillance systems, to help retailers develop a cost-effective loss prevention model, designed to fit the needs of each individual retail business.
Solink’s platform utilises the Cloud, meaning retailers have access to hundreds of unique features that enable them to track and prevent internal and external fraud and losses. Using this combination users can:
- Access high quality, on-demand, and live footage of their premises on a wide range of devices
- Use motion search to find activity in a specific area, which reduces the time constraints of manually searching
- See a wide field of vision from the camera with the ability to link multiple together
- Automatically detect blocked exits
Using these features, retailers are able to accurately and securely manage their inventory. Additionally, they can ensure that the customer-facing section of the store is issue-free and well-managed, while simultaneously monitoring stock rooms and certifying that employee areas are safe and compliant.
If needed, a retailer can store footage for up to 365 days and know that it is always backed up using RAID or in the Cloud. All of this is achieved while also ensuring all devices are NDAA compliant and all cybersecurity standards are met.
Solink’s software has already assisted a number of global retail businesses, with it enabling one to uncover ‘$70,000 [of] internal theft in under 3 minutes’. Combined with reliable hardware provided by Agilitas, retailers can see real-time inventory management and reduce costs securely, quickly and conveniently.