INDUSTRY WATCH
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tThe challenge facing the retail sector
Retailers are feeling increasing pressure from online competition , which necessitates review of all areas of expense and wastage . For example , shrinkage from theft and shoplifting . According to the US National Retail Federation ’ s 2019 National Retail Security Survey , the average retail shrinkage is 1.38 % of sales – approximately the same since 2014 . It may not sound like a lot , but it amounted to over US $ 50 billion in 2018 . If your retail store earns US $ 1 million sales with 50 % gross margins , shrinkage might mount up to US $ 10,000 – a significant loss .
Security measures are therefore required to make it more difficult for thieves , but without inconvenience to the majority of honest customers . Security tagging is an additional expense but is not an inconvenience to the customer as all goods must leave through checkout . Reducing entry and exit points makes it easier to police movement but can be more restrictive for customers . Security cameras , on the other hand , do not restrict normal shopping activity and once installed , the subscription cost to the SaaS is minimal when compared to the potential of loss without it .
Knowing that you could be being watched is a major disincentive for the casual shoplifter , but security systems become a fresh target for more organised crime .
If the security system is too rigid for agile deployment , or if the network can be hacked to falsify or erase data , it could leave the door wide open for well-planned theft .
Securing the LiveView solution
LiveView Technologies offers advanced video surveillance solutions to address the threat of opportunistic shoplifting , as well as organised theft . Its client base includes major big-box retailers . LiveView Technologies provides solutions that go beyond traditional closed-circuit cameras . Its turnkey solutions integrate multiple high-resolution cameras , audio components , Edge AI analytics and a variety of sensors to automatically detect problems / intrusions , deter intruders and proactively alert responsible parties .
LiveView is a cloud-first technology and as such , requires a truly global softwaredefined network that leverages standard Internet connections to connect locally available wireless , cellular and pointto-point connections to provide secure remote access for its customers and operational staff .
The company provides cloud-based video streaming from fixed or mobile cameras , enabling 24 / 7 monitoring of vulnerable areas around retail locations or inside an entire store . Should an incident go undetected , automatic recording enables later forensic analysis of the problem . The LiveView Edge Security Platform www . intelligentcio . com INTELLIGENTCIO
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