need of networked CCTV for Retail industry because of Shrinkage

Hello,
Since the shrinkage in Retail industry is large, it is important that one uses the networked Video surveillance system to take care of the small to medium size retail businesses.




According to the 2007 National Retail Security Survey conducted by Dr. Richard
Hollinger at the University of Florida:

•

Retailers report an annual inventory shrinkage of $34.8 billion.
•

44% of all inventory shrinkage is attributed to employee theft. This translates to
an employee theft price tag of $15.2 billion.
•

The average admitted dollar loss per employee theft incident was a record
$1442.67 which is higher than the 2006 figure of $1,306.59.
•

The average dollar loss per shoplifting incident was $344.91.
•

34% of all inventory shrinkage is attributed to shoplifting.
•

15% of all inventory shrinkage is attributed to administrative & paper error.
•

4% of all inventory shrinkage is attributed to vendor error.
•

3% of all inventory shrinkage is attributed to an unknown error.
•

Retailers are forced to pass along these substantial profit losses in the form of
higher product prices.
•

The average length of employment for a dishonest worker was 9.53 months
before getting caught for dishonesty