Commercial Security for Retail Matters More Than You Think

One of the most valuable reports to any retailer is the National Retail Security Survey. The most recent, the 2016 report, reveals something every retailer knows. Theft hurts a business. In 2015, inventory shrink totaled $45.2 billion, up by $1.2 billion from the previous year. While the number is staggering, we can learn one very important lesson from how the numbers break down– commercial security for retail matters, a lot.

Shrinkage is an ENORMOUS Problem

But it could be worse. While the total amount of shrinkage is up, it represents the lowest percentage of sales in the survey’s history. So, retail sales is growing faster than the shrinkage. What is making the difference? The implementation of industry specific commercial security for retail. Since more retailers are implementing sophisticated loss prevention technologies, sales have increased.

Employee Theft is a Bigger Problem Than We Think

No employer wants a culture of suspicion, but the study reveals that preventing internal theft needs more attention. In 2014, internal loss broke down in this way:

  • Shoplifting 37%
  • Internal Theft 35%
  • Paperwork Errors 17%
  • Vendor Fraud 7%
  • Unknown Loss 6%

This means that internal theft is just as concerning as shoplifting! But internal theft is also more sensitive to handle, and much more personal. No employer wants to believe a trusted employee is stealing, and obtaining sufficient evidence of criminal activity is very difficult without the help of sophisticated loss prevention technologies. The narrowing margin between loss and percentage of sales indicates that the increased usage of POS systems, access control, and remote access.

Implementing Loss Prevention Solutions is a Win

The commercial security industry is rapidly advancing, and retailers realize the value in implementing these technologies in loss prevention. Most retail store owners report adjusting their security budget, allocating more money for electronic solutions, and seeing the reduction in loss.

Spending Wisely is a Must

No matter the size of the security budget, retailers are realizing that those funds must be spent wisely. This means leveraging the knowledge of electronic security and retail loss professionals who both understand the capabilities of the individual technologies as well as the complexities and demands of individual retail establishments. More retailers are seeing the importance of having a professional recommend solutions that can be fully integrated to provide valuable actionable intelligence which results in a lower total cost of ownership.

S-Tron specializes in retail loss prevention and commercial solutions to help retailers leverage data to target loss prevention and drive sales. Contact us today for a free consultation. 

Critical Reasons Your Retail Business Needs End-to-End Security

A recent industry study noted that most businesses (nearly 60%) monitor less than half of their valuable assets with video surveillance systems. This statistic does not include how many businesses thoroughly and effectively safeguard other aspects of the business, such as POI, entrances, and exits, or the overall business. This means that critical aspects of most businesses are left under or unprotected.

How Businesses Fail

In addition to under-utilizing security cameras and CCTV, responders to the survey reveal another problem—a failure to utilize analytics. Fewer than half actively monitor footage or use it to gain important business insights. The majority of users only store the footage and review it if a crime is suspected. Additionally, businesses fail to upkeep and upgrade security equipment frequently enough, resulting in incompatible technologies and low-quality images, among other issues.

Sharp Images Matter

Just having a video surveillance system is not good enough. The system must be able to provide quality images to be of ultimate advantage. Sharp images are necessary for identifying crime and those who commit them as well as in gaining important business insights that can help improve things like customer service and profitability.

Analytics Are Priceless

When most think of video surveillance and CCTV, they think of it in relation to deterring or spotting crime. However, these systems can also provide incredible insights on how the business works, or doesn’t. By tapping into that information, a business owner can spot issues in productivity, quality control, or traffic flow.

End-to-end Solutions Improve Security

Even better than security cameras and CCTV alone, when paired with intrusion detection and access control systems security and other advantages are multiplied exponentially. Together, problems are identified sooner and an emergency response initiated much more quickly.

Better Solutions Put Time on Your Side

Surveillance, security, and access control integrated systems put time on your side. While surveillance systems can spot someone committing a crime or in a restricted area, it still takes someone to see it to initiate a response. When paired with access control, you can be alerted to activity and initiate a response immediately.

End-to-end Solutions Improve the Cost Model for Security

Investing in security is important and businesses want to get the most out of their system as possible. Having and end-to-end solution makes that possible.  For example, having quality cameras means you can cover more area effectively which allows you to delegate funds toward access control solutions. Together these reduce loss more significantly than one or the other alone.

S-TRON Security Electronics is an electronic security integrator for national and regional retail and hospitality companies. For more information, call us today.

7 Ways Outdated Video Surveillance Solutions Put Your Business at Risk

It can be very tempting to put off updating your video surveillance system. One of the main reasons business owners cite for doing so is the desire to maximize the worth of their original security system investment. In many instances, extending the life of a tool does maximize its worth. This is not true of video surveillance systems for some very critical reasons, and knowing those reasons can keep you from unexpected and devastating loss.

1. Aging Systems Can Malfunction Without Warning

Surveillance systems run non-stop without notice, and often without maintenance. The system can seem fine on the surface but can malfunction without notice, often when it matters most.

2. Older Video Surveillance Systems Might Not Be Supported

All technology needs updates to stay current and the same is true for video surveillance systems. As new technology is released and updated, old technology may no longer be supported with critical updates.

3. Older Surveillance Technology May Not Be Compatible with Newer Systems

Security technology is rapidly advancing and today there is a vast amount of supportive systems available. Those supportive technologies are likely only compatible with newer systems.

4. The Longer it has Been Around, the More Vulnerable it Becomes

Hackers are skilled at their craft and the longer a system has been around, the more time they have had to crack the code or find ways around its effectiveness.

5. Your Security Needs Change

Over the course of several years, your security needs change vastly and the longer your surveillance system has been in place, the more likely it is that it no longer meets your real needs. For example, your business could have grown or been remodeled making the older system ill placed or ineffective in a larger space. With increased traffic and employees, you might need security monitoring, or the ability to restrict access which older systems may not support.

6. Older Systems May Not Run Optimally

Even a system that has received regular professional maintenance can experience problems with time and usage. Systems that use magnetic tapes for example find out that the tape has a limited lifetime only after there is an incident they hope to have captured.

7. Missing Out on Important Insights

One of the biggest disadvantages of an older system is that they are not usually compatible with systems that provide valuable business insights, analytics, and access. This means you may be missing out on remote access and control, alerts, and the analytics that can improve safety and business functions.

An effective video surveillance system is the core of your business security. S-Tron’s suite of innovative video surveillance products yield critical reporting metrics that provide security, safety and marketing data in one comprehensive solution. For more information, call S-Tron Security Electronics today.