ShotSpotter Expands Into Retail Sector by Offering 24×7 Outdoor Gunfire Detection for US-based Stores and Malls

Rhea-AI Summary

ShotSpotter, Inc. (NASDAQ: SSTI) has introduced the ShotSpotter SiteSecure™ for Retail program, which enhances outdoor gunfire detection for retail sites amid a 40% spike in violent incidents in 2020. The system alerts security personnel within seconds of gunfire, providing crucial information for a timely response. ShotSpotter data indicates a 42% rise in retail area shootings from 2019 to 2020. The program aims to create a safer shopping environment and integrates seamlessly with existing security technologies. ShotSpotter continues to partner with authorities to promote retail safety.

Positive

• Introduction of ShotSpotter SiteSecure for Retail enhances retail security.
• Program addresses a significant increase in violent incidents with a 40% rise since 2016.
• Provides quick alerts to security personnel, improving response times.
• Seamless integration with existing security systems increases efficiency.

Negative

• Significant rise in gun violence and retail shootings may raise concerns for investors.
• Dependence on external safety conditions may affect program adoption.

Violent Incidents at Retail Locations Spiked by 40 Percent in 2020

NEWARK, Calif., March 30, 2021 (GLOBE NEWSWIRE) -- ShotSpotter, Inc. (Nasdaq: SSTI), a leader in precision policing technology solutions that enable law enforcement to more effectively respond to, investigate and deter crime, today launched its ShotSpotter SiteSecure™ for Retail program to provide outdoor gunfire detection for retail chains and malls. ShotSpotter SiteSecure is a gunfire detection solution that alerts retail security personnel within seconds of a shooting incident around their stores and parking lots, protecting retail shoppers and associates by enabling faster response by security, law enforcement and medical personnel.

Fatalities and violent incidents in retail spiked to an all-time high in 2020, increasing 40 percent since 2016, according to the latest D&D Daily retail crime report¹. The findings revealed that 88% of the fatalities were from gunfire and that parking lots experienced the highest retail violence, followed closely by stores and malls.

ShotSpotter’s own gunfire data also showed a significant increase in retail area shootings, rising 42 percent from 2019 to 2020 in areas with ShotSpotter coverage. The increase includes 5,141 confirmed gunfire incidents within a quarter mile of retail establishments in 2019, to 7,299 in 2020. The retail establishments represented a mix of grocers, discount/dollar stores, big box retailers, home improvement/DIY, and supply chain/distribution centers that fell within U.S. coverage areas for ShotSpotter.

SiteSecure for Retail is a new program that provides US-based retailers with dedicated security experts, custom-tailored solutions for enhanced perimeter security, simplified pricing bundles, and seamless integration into existing video surveillance, access-controls, and other security technologies. It complements similar programs for corporate facilities, government buildings, and college campuses.

SiteSecure’s core technology uses acoustic sensors to listen for loud, impulsive sounds that could be gunshots. Using a combination of machine learning and human review, incidents are quickly verified and alerts are sent to law enforcement and security teams including a precise location of the incident, number of rounds fired, and tactical information. The alerts provide a critical time advantage that enable security officials to quickly mobilize and safely mitigate the threat. SiteSecure’s technology is already used in over 100 cities across the U.S. to provide public safety personnel with a critical time advantage needed to act quickly and confidently in a crisis situation.

“Improving safety around stores requires a range of solutions including sharing best practices and greater cooperation between retailers and law enforcement,” said Terry Sullivan, President of the Loss Prevention Foundation. “With a proven tool like ShotSpotter SiteSecure, retailers are assured that police and their own leadership teams will be quickly alerted to gunfire at a specific location and will respond swiftly to help keep customers and employees safe.”

“Going with your family to the mall or department store should be a safe and secure everyday event, but sadly we have seen the threats of gun violence escalate to levels that have retailers seeking new solutions to ensure public safety in and around their establishments,” said Ralph A. Clark, President and CEO of ShotSpotter. “With SiteSecure for Retail, we can help retail locations provide a 24 x 7 outdoor ‘dome of protection’ for the people who work, shop and congregate in these locations and ensure first responders are notified quickly in a shooting event.”

As part of the program, ShotSpotter has partnered with the Loss Prevention Foundation (LPF) to provide valuable resources and expertise to Loss Prevention and Security leaders in retail. LPF and ShotSpotter will co-host a webinar featuring former NYPD Commissioner William Bratton on the following topic: Managing the New Normal - Perspectives on the State of Public Safety and the Impact on Retail Security. The session is open to the public and will be held on April 15th, 10am PT/1pm ET. To register, visit: https://go.shotspotter.com/lpf-retail-webinar

About ShotSpotter, Inc.
ShotSpotter (NASDAQ: SSTI) is a leader in precision policing technology solutions that enable law enforcement officials to more effectively respond to, investigate and deter crime. The company’s products are trusted by more than 100 U.S. cities to help make their communities safer. The platform includes its flagship product, ShotSpotter Respond™, the leading gunshot detection, location, and forensic system, and ShotSpotter Connect™, patrol management software to dynamically direct patrol resources to areas of greatest risk and more effectively deter crime. ShotSpotter Investigate™, available in the second half of 2021, is an investigative case management solution that help detectives connect the dots and share information more effectively to improve case clearance rates. ShotSpotter also serves the corporate and college security markets and has been designated a Great Place to Work^® Company.

For more media information for ShotSpotter, contact:

Media Contact:
Liz Einbinder
ShotSpotter, Inc.
+1 (510) 794-3147
leinbinder@shotspotter.com

Investor Relations Contacts:
Matt Glover
Gateway Investor Relations
+1 (949) 574-3860
SSTI@gatewayir.com

JoAnn Horne
Market Street Partners
+1 (415) 445-3240
jhorne@marketstreetpartners.com

¹ Loss Prevention Magazine - https://losspreventionmedia.com/the-favorable-post-pandemic-future-of-retail-loss-prevention/

FAQ

What is the ShotSpotter SiteSecure for Retail program introduced by SSTI?

The ShotSpotter SiteSecure for Retail program is a gunfire detection solution that alerts security personnel of shooting incidents near retail locations, improving response times and enhancing shopper safety.

How much did violent incidents spike in retail locations in 2020?

Violent incidents in retail locations spiked by 40% in 2020, highlighting the need for enhanced security solutions.

How much did retail area shootings increase from 2019 to 2020 according to SSTI?

Retail area shootings increased by 42% from 2019 to 2020, rising from 5,141 to 7,299 confirmed gunfire incidents.

What is the primary technology behind ShotSpotter SiteSecure?

ShotSpotter SiteSecure uses acoustic sensors and machine learning to detect and verify potential gunfire incidents quickly.

How does ShotSpotter partner with retail security leaders?

ShotSpotter collaborates with the Loss Prevention Foundation to provide resources and expertise, enhancing retail security strategies.