solutions
Retail
The use of security vision systems in commerce is increasingly important. Today, it is not only about protecting people, assets and detecting theft. It is also an extraordinary research tool. Thanks to monitoring, we can track customer behaviour, which makes it possible to determine the consumer model and therefore to adopt an appropriate marketing strategy, in particular to take care of merchandising.
But how can these systems be modernised, avoiding the pitfalls of proprietary and separate systems that limit growth? It all starts with adopting a unified and open approach to security.
How the retail industry is evolving
Rising maintenance costs
Securing an open retail environment across various dispersed locations is inherently challenging. With a large portion of devices and alerts to manage, the fewer systems you need to work with, the better. Yet many of IT budgets continue to be allocated to maintaining legacy systems. These are resources that could be spent to take your security further. You need a security system that allows you to create a fully connected store to scale your business.
Increasing retail shrink
Retail shrink is at an all-time high, costing the industry $61.7 billion in 2019. Organized retail crime is on the rise, and even self checkout machines negatively impact profitability. Your team could also be losing time and money jumping between systems to investigate where retail loss is occurring. Facing rising threats with a stagnant or declining budget, retailers need to do more with less to turn a profit.
Data transformation
As the industry continues to digitize, many retailers are finding more value in their data. But video is often underutilized in retail, with 90%* of use dedicated to safety and security alone. Every day, your security system collects valuable data about your retail environment. Your security system should help you make sense of the data you collect, and present visual dashboards of actionable intelligence.
Choosing the right solutions gives you:
- Protection of property, theft prevention;
- Better understanding of consumer behaviour;
- Optimising the shop through changes in merchandise layout;
- Minimising losses and maximising profits;
- Optimising operations;
- Use of analytics that interact with security systems;
- Minimising costs and improving operational and commercial efficiency.