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Article: All-seeing eye: CCTV allows retailers options beyond shrink and security. (Technology Update).
- Article from:
- National Petroleum News
- Article date:
- November 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 M2Media360. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Marketing a CCTV-based security system to industry retailers has been a fairly simple proposition. Building on the capabilities of VHS, an eye in the store helps provide security from external threats while discouraging employee theft. According to the 2001 national Retail Security Survey, conducted annually by the University of Florida, U.S. retailers lost $32.3 billion from shrink in 2000. This works out to 1.75 percent of total sales. When broken down, employee theft accounted for 46 percent, shoplifting 30.6 percent, administrative error 17.6 percent and vendor fraud 5.8 percent.
However, an all-seeing, hearing and, in many cases, responsive presence hidden ...