The retail industry loses millions of dollars to employee theft and shoplifting every year. So, investing in video surveillance systems is a must for every retailer.
Security cameras provide great benefits that include reduced retail shrinkage, maximized profits, lower insurance rates, and ultimately decrease in the number of shoplifting and theft cases. Let’s discuss about the benefits of video surveillance at retail stores in detail.
With a security surveillance system, you will have regular 24/7 surveillance of your retail store even in your absence. It merely means that your store will also be monitored though you are miles away. Retail outlets are prone to thieves even after working hours. So, constant monitoring of the store gives better security to the assets. You don’t have to worry about camera malware or security breaches if you invest in high quality video surveillance systems similar to the advanced security cameras from Hikvision.
Improves Customer Service
There is a saying “If you want to succeed in retail, you have to believe that customer is the king.” Good customer service plays an essential role in deciding the growth of a retail store. A security camera doesn’t only help to deter theft, but also improves customer service. It helps you to ensure that your customers are happy and have a good experience while shopping. Customer service plays a decisive role in the success of any retail store.
Loss Prevention (Theft/Shoplifting)
According to The National Association for Shoplifting Prevention, $13 billion worth of goods are shoplifted from retail stores every year. This staggering amount equates to $35 million losses per day. It’s quite clear that one has to understand the gravity of the issue. Security cameras help to cut down on inventory shrinkage and other kinds of negative financial impact.
Installing a security camera in your retail store is an excellent way to prevent theft. If people who try to steal from your store spot a security camera, they will not dare to proceed with shoplifting.
These are some of the significant benefits of video surveillance systems at retail stores. Lastly, you can use video coverage to improve customer experience, layout, and design of your store. You can also assess the video to understand the shopping patterns of your customers. This will help you to modify and boost the growth of your retail store.