Remote Video Monitoring: Reducing Shrink, Mitigating Loss, and Enhancing ROI in the Retail Market With Remote Video Monitoring
Loss prevention is clearly a top concern for retailer professionals across the country. According to the National Retail Security Survey (NRSS) results, the majority of retail shrinkage in 2006 was due to employee theft, at $19.5 billion, representing 47 percent or almost half of all losses, while shoplifting accounted for $13.3 billion, or 32 percent of losses. But although losses continue to rise in correlation with industry sales, the NRSS reports that shrinkage as a percentage of sales has stayed flat. This is partly attributed to an industry trend in which savvy retailers are becoming more aware of the value of emerging security technologies, such as remote video monitoring, which has proven to help curtail the steady erosion of the retail industry's bottom line.