The cost of retail crime including loss prevention was $128 billion in 2011, equivalent to $200 per family.
Firas Bashee, CEO of total security solutions provider, Oncam Grandeye, tells TFM how 360-degree visual surveillance can provide total situation awareness.
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Retail security video surveillance, acquisition and tracking of 'suspicious' behavior and the interrogation and verification of a potential threat
The cornerstone of the Oncam Grandeye retail security solution is a unique process that enables video surveillance, acquisition and tracking of 'suspicious' behavior and the interrogation and verification of a potential threat. This in-turn provides the necessary intelligence needed to make a measured response to any situation or potential threat. The unique line of IP 360-degree cameras used in this process utilise award-winning technology that is recognized as the industry leader.
Shrinkage, or inventory losses, mostly due to shoplifting, return fraud, and employee theft reportedly cost the US retail industry almost $40b in 2010. In a significant portion of that, up to almost half, can be attributed to employee theft at the cash register. Advanced video surveillance solutions exist that can reduce that loss.
Studies indicate that a drop in retail shrinkage has occurred at the same time that loss prevention spending, with a good share going to equipment, has risen. While many retailers are still deploying analogue solutions, we know that the trend is migrating towards IP-based or network systems. At Oncam Grandeye we take the even a step further, providing network solutions in which one 360-degree camera can replace multiple other cameras.
Whether on-site or remote, viewing options include one single 360-degree fisheye view, 180-degree dewarped panoramic views, or up to 4 simultaneous Vcam views. And since each camera contains its own brain, tampering with one camera does not take down the entire system. In addition, images of predefined events triggered by motion detection are recorded for retrospective viewing, allowing for both real time and retrospective interrogation.
If shrink management is high on your agenda, Oncam Grandeye and our partners can help devise the right loss prevention strategy that will not only cost effectively decrease your losses but can also further boost your bottom line by acquiring valuable in store customer behavior data that can optimize your sales and marketing efforts.