For Security Management's December issue, Ann Longmore-Etheridge spoke with Joe Davis, CPP, senior manager of loss prevention for the T-Mobile’s south region, about the recent 3VR deployment and its impact on loss prevention within its retail stores.
As Davis mentioned in the article, "We had video systems in place that were adequate for physical security — watching the front and back doors — but we didn’t have a robust capability for reviewing forensic video and tying people to transactions inside a business.”
Hard to believe but there are only eight shopping days remaining until the Christmas holiday.
But as retailers roll up their sleeves in hopes of experiencing strong returns in this dismal shopping year, these companies also have to be on guard. More shoppers, coupled with the economic struggles many consumers are facing, potentially leads to an increase in retail crime and more loss.
Return fraud is a significant issue as well. In 2009, $9.59 billion in losses were attributed to return fraud, the National Retail Federation reported in its Return Fraud Survey 2009, and retailers can expect to lose $2.7 billion this holiday season. Much of the loss was due to the return of stolen merchandise and the return of merchandise purchased with fraudulent or stolen tender, such as counterfeit checks or stolen credit cards.
Earlier this week, Convenience Store News' Tammy Mastroberte sat down with Cory Deily, director of security and loss prevention at Redner's Markets, to speak more about how he came across the 3VR solution at the FMI Show in March 2008 and what benefits he has seen since installing the first pilot about two years ago, particularly around ORC and internal theft.
One anecdote Cory mentions is the grocery chain's ability to bust an ORC group that other big companies -- Safeway and CVS included -- were trying to get. With 3VR, Redner's was easily able to pull up the pictures, identify the persons involved and apprehend them at one of their locations.
Earlier today, we announced Redner's Markets, Inc. as the newest member of the 3VR family. The East Coast retail chain with 38 Warehouse Markets and 13 Quick Shoppe convenience outlets throughout Eastern Pennsylvania, Maryland and Delaware is currently using the P-Series SmartRecorder in its grocery locations and our more compact S-Series in its smaller Quick Shoppe convenience stores.
A number of new reports on the market share of IP video surveillance are shedding light on what the future may hold for the industry. Three reports from IMS Research, In-Stat and IP Video Market Info, all forecast that the market will rebound from the economic downturn of 2009 but the numbers are varied.
3VR is a video technology and data company that solves the challenges associated with video searchability, allowing customers to rapidly gather real-time intelligence from the unstructured video data that is produced by a single camera or a global network of cameras. 3VR uses analytics as the cornerstone of video search, and it enables both security and business intelligence applications from a single video management system (VMS). 3VR is the standard for hundreds of global customers in Financial Services, Retail, Government, Infrastructure and Hospitality. Learn more.