Retail stores are one of the most popular targets for theft. Even a small petty theft affects the store’s bottom line. A retail store security system should be put in place to combat asset loss, among other things. Fortunately, there are more benefits of security cameras for retail stores than theft prevention alone.
From loss prevention to increasing safety and improving employee productivity, the purposes for installing security cameras in retail stores are diverse. Below we’ll cover the importance of having a retail store security system in place and why video surveillance is a wise investment for any size establishment.
5 Benefits of Security Cameras for Retail Stores
The different benefits that security cameras provide retail stores cover a variety of applications. Although it’s easy to assume shoplifting would be the main purpose of a retail store security system, technological advancements now allow far more advantages to be achieved as well. The top five are as follows:
Benefit #1: Retail Security Cameras Prevents Inventory Loss
The first and most obvious advantage for security cameras in retail stores is strengthening loss prevention tactics. Theft and inventory loss are very common problems well known to plague retail establishments. With an operating video surveillance system properly installed, there is less chance of the store falling victim to minor or major thefts from customers or store employees.
Although many might believe petty thefts to be insignificant, the truth is even small losses can quickly add up. Having security camera systems in places like grocery stores, convenience stores, gas stations, clothes stores, and similar shops has been proven to be a highly effective solution for reducing the financial distress theft puts on a business.
This is mostly due to the simple fact that customers who visit retail locations who can see security cameras in use are much less likely to shoplift. On top of deterring shoplifting, it also increases the ability to recover any items once they have been stolen. Should someone get away, you can also return to your surveillance footage and show the authorities for identification and asset retrieval or to pursue legal prosecution.
Benefit #2: Retail Security Cameras Provide 24/7 Surveillance
The second powerful benefit retail security systems provide business owners is peace of mind. Network IP cameras give their users the ability to have around-the-clock surveillance from anywhere, at any time. This advantage gives retail store owners the ability to pull up live surveillance feeds, both during and after business operation hours.
The ability to do this can be especially useful in the event you are alerted by your alarm system of a suspicious event. Rather than rush over there and call the police, you can pull up the surveillance feeds at the store to determine if it is indeed a serious threat. Due to the high volume of false retail store alarms, verifying the threat could further save you money since the police can sometimes fine businesses for being dispatched to false alarms.
Benefit #3: Retail Surveillance Cameras Reduce Employee Theft
Although most businesses will screen and interview their employees before hiring them, there’s no guarantee that the worker won’t steal from the store. In fact, recent statistics showed that employee theft could result in as high as 36% of the total number of inventory loss. Retail security devices will not only help to deter the employees from trying to steal valuable products, but they also help prevent false accusations.
Because many retail stores have a high number of employees around working different shifts, it can be difficult to track exactly who the thief is. Retail store security cameras will eliminate this concern and provide you with the video evidence you need to catch the guilty employee with proof.
Benefit #4: Retail Surveillance For Employee Monitoring Boosts Customer Service
One of the useful advantages that security cameras offer retail stores beyond loss prevention is when they are used for employee monitoring. Ensuring your customers are having as enjoyable of an experience as possible is an integral factor in the overall success of any retail establishment.
By monitoring your employees, you are able to ensure they are working in a professional, courteous, and friendly manner. If you ever get a negative report involving a certain staff member, you can revert back and view the surveillance footage to determine the most appropriate course of action.
Benefit #5: Security Cameras Help Improve Overall Shopping Experience
Aside from the added safety benefits that retail stores with security cameras enjoy, other innovative applications are helping to improve the overall shopping experience. Modern stores are reviewing their recordings to learn typical shopping patterns, for one. This allows the managers to make the most from their display placements and improve sales for featured promotions.
It also helps to improve the general store layout to make things easier to find for shoppers. Similarly, store managers can review staffing patterns throughout different parts of the day. This benefit allows an establishment to determine when and where staffing might be improved while gaining an understanding of shifts that staffing should be reduced to save on labor costs.
Find The Best Retail Security System For Your Establishment
There’s no denying that security cameras offer many compelling benefits for retail stores. However, it’s crucial to choose the best security system if you want to gain these advantages. Security Camera King carries a large variety of commercial security systems perfect for retail settings. We can also put together a custom security system for you, complete with all the surveillance devices you need for your establishment. Contact us to speak with a member of our sales team and get the most from your retail security investment with our help!