I want to learn more about a security system with CCTV for my business in Newark- Businesses owners and managers tend to think primarily of Shoplifting when they consider the use of their CCTV system. However, Employee Theft is both much more common and more costly. According to various industry studies, the average amount of loss in a single Shoplifting incident is usually around $250. Whereas the average amount of loss in a single incident of Employee Theft is usually several times that amount, around $1,500. It often goes unnoticed until damages are severe. Inventory shrinkage for retail business is usually between 1.5% to 3% of retail sales. A shrink rate of 1.5%, or greater, usually indicates that there is a problem which needs to be addressed. Employee Theft is estimated to be the source of approximately 45% to 50% of all retail inventory shrinkage, while Shoplifting is the source for only around 30%. Loss averages pale in comparison to the higher amounts of loss seen in many specific cases. Losses of Design and Installation of CCTV Systems for Retail Businesses 2 tens of thousands of dollars are not uncommon, even in small businesses. Some small businesses who neglect to implement proper inventory controls and loss prevention practices may experience a shrink rate of up to 20%. Conversely, “Best in Class” retailers who implement integrated loss prevention practices and equipment have successfully reduced inventory shrinkage to less than 1%. Clearly, high inventory shrink rates are not an unavoidable “cost of doing business”. There are effective measures that can be implemented to reduce shrink and increase retained profits.