A new report, released by Video Security as a Service (VSaaS) provider Ava earlier this month, has revealed a range of benefits in implementing and extending advanced CCTV solutions in the UK’s retail industry.
The study, which analyses 111 case studies across locations in Britain, the US, Sweden and Norway, looks into the effectiveness of various forms of CCTV and video surveillance technologies in the retail industry. The 15-page report explores how much these forms of security prevent retail-specific crimes, and in what capacity they are able to reduce these incidents in the long term.
Since the start of 2020, video security solutions are proving to be a more popular security choice with security decision makers in the retail industry. This is largely down to social distancing restrictions, which have been in place throughout most of Europe as well as the US.
This July has seen the lifting of these restrictions in Britain, with many EU countries starting or planning to follow suit amid global vaccine roll-outs. The Ava report, then — which was conducted back in March — has been released at an opportune time for many business owners and stakeholders positioned in the retail industry. As restrictions continue to be eased, it is worth asking how effective video security solutions may be in the long term, and whether these will be the most effective approach to take for security decision makers moving into a ‘new normal’.
According to the report, increased use of video security solutions in retailers reduced shoplifting in 58% of cases. What’s more, 9% of retail sector security decision makers listed in the report stated that the use of CCTV completely eliminated shoplifting.
Staff fraud and theft
As well as reducing shoplifting, CCTV was also found to reduce the amount of theft incidents by staff members.
What’s more, more than half (54%) of the 111 retailers reported that video systems had significantly reduced fraud and theft by staff members and half said that it significantly reduced the fraudulent ‘slip and fall’ insurance claims by staff and contractors.
Further to this, 13% of cases showed that video systems completely eliminated fraudulent slip and fall insurance claims by staff.
Just less than half (46%) of retailers stated that video monitoring and recording technology had majorly reduced losses linked to vandalism of their property.
What’s more, 17% of retailers stated that instances of vandalism or destruction of property had been completely eliminated by the use of CCTV.
The findings of the Ava report indicate that retailers around the world, including the UK, are enthusiastic about adopting increased and updated video security measures, due — in many cases — to continued social distancing laws or Government recommendations.
It also reveals the effectiveness of these methods in helping to reduce losses associated with criminal activities which the retail industry is particularly vulnerable to, in particular shoplifting, fraudulent slip and fall claims, and property vandalism.
Going forward, retailers should be given further access to up-to-date technologies to supplement their security provisions. This would be particularly beneficial for small businesses, which may be unable to afford dedicated security guards, as well as larger retail venues such as shopping complexes or multi-storey shops which may require video surveillance solutions to help aid security guards’ in their monitoring of shop floors during the day and night hours.
Written by Luna Williams of K9 Patrol Security Solutions