In 2019, retail crime remains one of the most serious problems facing superstores, popular chains and grocery stores. Just how big of a problem is it? Inventory shrinkage costs the U.S. retail industry over $45 billion each year! Internal theft, shoplifting, fraud and organized retail crime (ORC) can have a crippling effect on profit margins. In fact, almost all retailers have been impacted by ORC. Businesses are also on high alert about retail crime because it puts shoppers and employees in danger. All retailers must critically explore proactive strategies for preventing retail crime and inventory shrinkage.
The following statistics offer a state-of-the-industry view of loss prevention, workplace violence, organized retail crime, internal shrinkage and more for 2019…
Installing video surveillance cameras is the best way to know the “ins and outs” of your business. Video surveillance helps every size business against burglaries, employee theft, vandalism, and other types of damage. Your business was built from years of hard work and passion – it only makes sense that you should protect it the best possible way you can!
Security cameras are proven time and time again to be the best prevention of crime in the workplace. Not only do they protect your business in real-time and record all happenings, they also protect your customers and employees. Security cameras offer a sense of security for your customers, acting as a deterrent for criminal activity while they shop. Employees will become more productive when they have a visual accountability measure in place; those that deal with handling money from customers are particularly susceptible to this — a video playback can prove proper handling of cash and correct change counted in the event of a dispute.
Huge losses whether from actual product, productivity or fraud…it all adds up. A shoplifting event here and there, a burglary or theft, false worker’s compensation claims, building damage from vandals, and lowered employee assurance due to harassment that go unreported can all do serious damage to your business, even if it seems to be minor at the time.
According to the National Association for Shoplifting Prevention (NASP) more than $13 billion worth of goods are stolen from retailers each year which translates to approximately $35 million per day. Shockingly, 1 in 11 people will commit a shoplifting crime at some point in their lives, but only 10 million people have been caught shoplifting in the last five years. Surprisingly, the NASP reports that only 1 in 48 shoplifters are actually caught. How many are turned over to police for prosecution? Actually, only about half of those people.
- Creates a Visual Deterrent. Cameras and signs notifying visitors of the presence of security systems provide comfort to visitors and deter criminals from intruding.
- Portrays Strength. A security system is a powerful tool that makes it difficult for criminals to get away. A combination of locks, cameras, and alarms will turn your office into a veritable fortress most criminals won’t attempt to defeat.
- It’s 24/7 Peace of Mind. Continuous real-time monitoring – IP remote surveillance allows authorized employees to monitor critical business areas continuously, 24/7 in real-time from almost anywhere. A security system never calls in sick and never needs a bathroom break. Your system is an on-call security guard that works long hours and can notify the police or fire department of a problem in real-time.
- It’s a Legal Shield. A security system gives you recorded evidence that a crime has taken place. The camera doesn’t lie, and a combination of video/photographic evidence will stand up in court as you pursue justice. It also helps protect against frivolous lawsuits and claims made by people injured on your property.
- It’s a Money Saver. Often, installing a security system can result in lowered insurance premiums and deductibles. It shows you’re serious about protecting your business and insurance companies like to see that when issuing policies.
- It’s cost effective and scalable.. As your business grows, adding and integrating additional cameras into an established network is easy and cost-effective.