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Bad Theft Figures for UK Retail

Retail theft is on the riseAccording to the European Retail Theft Barometer reporting for 2007, customer theft for this period stood at almost £2.1 billion whilst theft by employees was recorded at £1.75 billion.

The problem for UK retailers seems worse than almost anywhere else in Europe. The UK retail sector lost 1.34% of sales turnover to shrinkage, only Greece’s figures are worse.

And the news is even worse considering that this percentage is up from 2006 when it was 1.33%. With the level of percentage shrinkage not recuding, the amounts of money lost grow as retail sales increase.

With the advancement of networked CCTV in recent years, retailers have been handed a much more effective tool in their fight against theft. For example, Network CCTV allows retail businesses to integrate CCTV within their POS systems to link transaction data with high quality video images. And because it is networked, this data can be viewed and analysed by security staff remotely.

With IP CCTV, retail chains have the opportunity to set up a central control room from where specialist staff can monitor all the chain’s operations. The business case for using Networked CCTV in retail is very strong and retailers, large and small, can benefit enormously by reducing both shrinkage and the cost of their CCTV system at the same time.

Network Webcams offers advice, design, installation and support services for IP CCTV systems. Contact us for further information.

Published on October 14th, 2008 by Frank Crouwel

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