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Preventing Theft and Fraud through Total Vision Coverage

The facts are remarkably clear: employee theft, shoplifting and fraud cost U.S. retailers over $85 million – EVERY day! That’s right – over $31 billion in losses in just one year. In fact, the National Retail Security Survey* cites another alarming fact: U.S. Retailers lost 1.54% of their total annual sales to inventory shrinkage in 2004.

How much are you likely losing each year to inventory shrinkage? Use this handy chart to find out:

Annual Sales ($USD) Est. Average Loss to Shrinkage
$10 Million $154,000
$20 Million $308,000
$30 Million $462,000
$50 Million $770,000
$75 Million $1,155,000
$100 Million $1,540,000
$200 Million $3,080,000
$500 Million $7,700,000
$1 Billion $15,400,000

When it comes to shrinkage, shoplifting alone accounts for 34% of retail losses (up from 30.8% in 2000) – with U.S. retailers losing nearly $10.5 billion to in sales to shoplifting in one year.

The facts are also clear that shoplifters are becoming more sophisticated and organized, often using teams of shoplifters who are able to steal large amounts of goods very quickly –and very efficiently. In addition, shoplifters (as well as rogue employees) are learning to carefully target retail locations that haven’t yet implemented advanced theft prevention systems. Standard CCTV video cameras often have blind spots that thieves learn to exploit to their advantage – allowing them an opportunity to steal without ever being captured by a camera lens.

Is your current video camera system luring you into a false sense of security? Unless you’ve got Total Vision Coverage, you’re not secure.

Total Vision Coverage – From Entrance to Isles to Storerooms to Checkout
Most standard CCTV camera systems fail to provide the Total Vision Coverage you need to protect your business from theft because they inherently have “blind spots” in which shoppers or employees can go undetected and unwatched. Imagine, though, being able to track a person’s entire movements through your facilities as they move around a room, or from one room to another – with no blind spots. That’s what Total Vision Coverage will do for you.

Preventing Customer Theft -
With Total Vision Coverage, you’ll be able to track suspicious customers through your entire store – leaving them no place to hide. You’ll track and apprehend shoplifters more accurately and timely.

Preventing Employee Theft -
Because Total Vision Coverage means you have a 360-degree non-stop view of your employees, you’ll be able to track everywhere they go. Suspicious employees can no longer hide in blind spots, so their behavior can be monitored carefully and continually to allow prompt resolution and avoid more significant incidents.

Improving Employee Productivity -
Because you have Total Vision Coverage, you’ll also be able to better track and monitor employee behavior and actions – to ensure proper execution of operational processes (such as proper merchandise placement) and resolve inefficiencies or behaviors that reduce your productivity – and profits.

Improving Customer Satisfaction -
By monitoring employee interactions with customers (or lack thereof), Total Vision Coverage also allows you to more readily identify and correct behaviors and activities that impede customer service and customer satisfaction.


The Technology behind Total Vision Coverage
P&L Solutions offer the latest in digital camera technology that enables Total Vision Coverage – providing you with a complete, total 360-degree view of your store. Just one of our 360-degree cameras provides better coverage than FOUR traditional cameras – with no blind spots for thieves to hide in. Our 360-degree cameras provide the features and benefits you need for your peace-of-mind protection:

  • Total security through total vision coverage – continually track customers or employees as they move through your store for real-time threat assessment and evidence collection.
  • Easy implementation - compatible with standard IP-based surveillance platforms and hardware, and no separate CCTV cabling required.
  • Reliability– there’s no moving parts, providing long-term performance and durability
  • Increased store profits – by reducing frivolous and expensive lawsuits through full-view video records of incidents, and by reducing installation and maintenance costs of your surveillance systems.
  • Improved competitiveness – by seeing everywhere your customers go, you gain vital market research data you can put to use in your marketing and sales efforts.

*2005 National Retail Security Survey, University of Florida.

 
 
 
 
P&L Solutions also offers a wide range of CCTV cameras and Digital Video Recorder products and solutions to meet any business need. Be sure to contact P&L Solutions for more details, or email us at info@plsolutions.net
 
 
 
 
 
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