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. It should also present you
that data in ways that you can understand it and
take action.
Issues and challenges of the retail industry
Increasing retail shrink
The average shrink rate is increasing mainly due
to external and internal theft. This is negatively
impacting the bottom line of many retail businesses.
Based on reports, these shrinkages account for
somewhere between 1.5% to 2% of total revenue.
Heightened levels of violence
While theft has an undeniable impact on retailer
margins and profitability, retailers are concerned
about the heightened levels of violence. Retailers'
top priority remains providing a safe workplace for
their staff and customers.
Rising maintenance cost
Securing an open retail environment across various
locations is challenging. With so many devices and
alerts to manage, the fewer systems you need to
work with, the better. You need a security system
that allows you to create a fully connected store to
scale your business.
