How Retail Stores & Malls Are Utilising Video Analytics For Tighter Security

This article is brought to you by Retail Technology Review: How Retail Stores & Malls Are Utilising Video Analytics For Tighter Security.

By Jackie Ross, freelance writer.

If you are running a retail business, you must emphasize security to prevent losses and inventory shrinkage. Retail shrinkage caused $94.5 billion in losses in 2021, and with the threat of a recession looming, this figure could drastically increase.

You must implement stringent security to ensure your business does not fall victim to increased retail shrinkage. Keep reading to learn how retail stores and malls utilize video analytics for tighter security.

Cloud-Based Surveillance For Integration And Accessibility

Cloud-based security cameras for retail stores are essential in implementing video analytics. Cloud-based surveillance systems have open API integrations that enable security professionals to install and integrate software that enhances the function of their security camera system - such as video analytics.

The benefits of cloud-based security camera systems don’t stop there. On-premise systems present many disadvantages for your security strategies, such as server storage requirements, the need for complex wiring infrastructure, and the cost of maintenance. Additionally, your security staff must be in the control room to monitor the surveillance feed, manually viewing the data to spot security threats.

With a cloud-based system, you gain the following advantages for your security strategy:

• Remote management - your security team can view the surveillance camera feed from anywhere using their mobile devices, allowing for more oversight into security incidents.
  
  
• Cloud-based data storage - you can store your surveillance footage in a cloud-based location, reducing your reliance on server storage.

Wireless connection - you can connect your cameras to the cloud without designing a complex wiring system to connect them to your servers.

• Over-the-air updates - your service provider can perform updates remotely, reducing the time-consuming service engineer visits required to maintain your security system.

For the reasons listed above and the open API integrations, consider switching to cloud-based technology for your security strategy.

Integrating Video Analytics With Retail Property Surveillance

Many security professionals leverage open API integrations with cloud-based security cameras to apply video analytics software. Video analytics software presents the following benefits to your retail store security strategy:

• Reducing time-consuming manual tasks - video analytics software monitors your surveillance footage to identify potential security threats, notifying your security team via mobile alerts. With this function, your security team can view surveillance footage to spot threats manually. This would result in many security threats going unnoticed, as your security staff has many duties that prevent them from consistently monitoring video surveillance feeds. Automating this process relieves the burden of manual observation, freeing up your staff’s time to focus on other, more critical tasks.
  
  
• Object identification - your video analytics software can use object identification to ensure your store is safe. Security staff will receive an immediate mobile alert if someone enters the premises with a weapon, allowing them to intervene and prevent escalation quickly.
  
  
• POS transactions - when a suspicious or anomalous event occurs at the point of sale, your security team will receive an alert, allowing them to observe surveillance footage and investigate the incident. To support this feature and ensure secure transactions with POS retail billing software. The tool allows stores to track their online and in-person transactions, allowing them to identify retail shrinkage quickly.
  
  
• Theft detection - You can establish theft detection using video analytics for expensive items such as jewellery cabinets and cases. If a customer removes an item from these areas, your security staff will be notified immediately.
  
  
• Loitering detection - if someone is lingering in your store, this could deter other customers and make people feel unsafe on the premises. You can implement video analytics to spot loitering on the premise and take action to move these individuals along.

Other Integrations For Surveillance

Now that you know of the benefits of video analytics for your retail or mall security strategy, let’s discuss some of the alternative integrations for your surveillance system. These integrations may help to keep your private staff-only areas secure and ensure parking lot security:

• Identity verification - you need to ensure that your inventory rooms and staff-only areas are only accessible to your staff members. You can implement identity verification to prevent someone from using a stolen keycard to enter these areas. Integrating access control and door security cameras allows you to apply facial recognition software to ensure that only authorized staff members access these spaces.
  
  
• License plate identification - you can use surveillance in your parking lot security processes. You can implement license-based security to prevent drivers from leaving your parking facility without paying. The cameras will identify the vehicle's license plate when it enters and leaves the property. This function allows for registration-based payment, eliminating the need for parking tickets and creating a more eco-friendly parking system.

Summary

If you’re looking for the latest security measures to secure your mall or retail facility, you should turn to video analytics. Manual video surveillance is not conducive to an agile and proactive security response. Implementing this technology can help you to fortify your strategy against the coming recession - which may cause a spike in retail theft.