Build your professional network on facebook via our app Go to app
 
<< Prev  2 of 5 in Topic  Next >>
By : Shailena Varma, Logistics Manager, Target
Industry : Retail Chain/Logistics Functional Area : Organized retail
Activity:  13 comments  1948 views  last activity : 02 06 2011 04:04:12 +0000
 Refer 231
Share
 
 
 

A survey of retail crime and loss in the world says India has the highest retail shrinkage at 3.2% in the world. Retail shrinkage is the loss of products due to shoplifting, employee theft, paperwork errors and supplier fraud. The country’s retailers complain that the main causes for the US $2.6 billion loss are shoplifting and employee theft.

The survey, the third annual Global Retail Theft Barometer 2009, covered 1,069 large retailers across 41 countries between July 2008 and June 2009.

India has consistently maintained its position in top spot with desi thieves preferring to steal electronic items, cosmetics, alcohol, apparel and jewellery over other goods because of their value and portability. The international list of most-stolen merchandise includes Wii games, printer cartridges, razor blades, branded watches and DVDs. ‘‘The smaller the gadget the more the chances of it getting stolen, also MP3 players and cell phones are the most stolen items among others.


http://www.networkwebcams.co.uk/blog/wp-content/uploads/2008/10/retail-theft-cctv.jpg     http://www.think-code.com/wp-content/uploads/2008/11/shoplifter9_0sni.jpg

The shoplifting theft rate in the country is at 45%, which is more higher than the global average rate of 43%. Shoplifting has become very rampant in jewellery shops across all the Metros in the country. Many thieves operate in gangs and are skilled operators who don’t get caught easily. Very few threaten with brandishing knives. And in that regard EAS (electronic articles surveillance) machines, dummy models of goods, CCTV cameras, security guards and other security spending by Indian retailers amounted to US$ 158 million.

After shoplifting, employee theft accounted for 23.3% of retail shrinkage. Store managers are now making sure employees are frisked every time they leave the store. It is easier to catch a shoplifter than your own staff stealing. The survey highlights that the amount of loss incurred due to employee theft is five times more than shoplifting in the Asia Pacific region.

And to curb the retail theft, the most popular security resource is the human security guard, followed by CCTV cameras and EAS systems. It is known to most of them who are in retail profession that ‘‘Shrinkage directly hits profitability".

 Top Comment : Kashif Billal   | 11 10 2009 08:38:17 +0000
Oh My God!!! Retail Shrinkage in India is Terrible, though being the most Promsing & one of the fastest growing economy of the times. But it is seriuos matter of concern.
 
13 comments on "India No.1 in Retail theft"
  Commented by  Anand Balasubramanian, Deployment Mgr, Tesco Hymall    | 02 06 2011 04:04:12 +0000
Guys, it is common problem all over the world. Few of the thefts are by their own staffs and few of them are through online purchase and few of them are shop lifting. Be aware that It is not only happening ONLY in India. All the retailers are facing these problems in this world and they are trying to minimize this as much as possible by taking various measures like tightening their security system, checking the credit card details for online purchase...etc.  
  Commented by  Bindu.M, Direct Marketing Executive, Tricube Marketing India Pvt Ltd    | 06 01 2010 08:29:56 +0000
yup i know about in that Indian top retail Marketing
  Commented by  ANUJ GARG, Dy. Regional Manager, Khaitan Electricals LTD    | 06 01 2010 06:00:58 +0000
oh my good it is terrible figur but it also a human nature 
  Commented by  sandeep kumar verma, Assistant Manager Marketing, GKB Hitech Lenses Pvt Ltd    | 11 16 2009 09:36:13 +0000
Rating : +1 
Yup i had already learnt about it that India tops in this . 
  Commented by  Rijo Stephen Cletus, Business Consultant, Brickwork India Pvt Ltd    | 11 12 2009 13:01:36 +0000
Rating : +2 
Please let me know the reference from where you got this news. Organised retail revolution is just setting trend in India. If you know the span of the country, retail is there in every nuke and corner in India in the FMCG segment and many others segments as well.  Most of them are shops, with counter sales, where theft is nearly impossible (not totally impossible). So this is India’s retail and not the small number of organised retails that you see in a few metros. Only organised retail is where public have direct access to materials and almost 99% of them are closely monitored and that too at multiple check points. 
So when you say India tops retail theft, the study you referred should be comprehensive covering the entire span of India, and I am sure there is not a single agency that has dared such a large scale survey. So before making such a statement on the country, you need to give lot of thinking. Else you just told the world that 50% of Indian shoppers are thieves which is actually not true.  This trend projection that you have made is totally wrong and baseless
  Commented by  Vishnu M., Head - Software QA/QC , UAEEXchange & Financial Services Ltd.    | 11 12 2009 03:10:54 +0000
Rating : +1 
A simple doubt.. how is the shoplifting rate calculated? You said its 45% in india.. Does that mean one among the three customers is a shop lifter? 

And regarding how to curb this... there is only one solution.. "Be Vigilant"
  Commented by  pawan kohli, zoanl sales manager, Alembic Limited    | 11 12 2009 02:57:50 +0000
Rating : +1 
this is certainly a big issue. in my opinion the retailers need to apply few rules and regulations of security check after making a due declaration to the customers to keep their ego and ensure the theft is prohibited.
  Commented by  SUMEET DIKSHIT, Strategy/B.D.    | 11 11 2009 16:42:14 +0000
Rating : +1 
Yes, it must be,blame it on attitude here.Use of hi-tech instruments & manpower to check it looks as the solution.And then the company in view of profits they make in such a growing economy,need to set aside a minute %age as acceptable pilferage.
  Commented by  rakesh chandra sharma, sr.sales execetive, Scanwell Logistics india pvt.ltd    | 11 11 2009 04:55:03 +0000
Rating : +1 
I think In india it is true due to nature of human being. this is very serious matter .
  Commented by  Bill Tian, Trust Partnership Co., Ltd    | 11 11 2009 03:41:11 +0000
Is it true?
  Commented by  Ramakrishna Perumal, Sr. Engineer, Technicas Reunidas    | 11 10 2009 14:25:43 +0000
Rating : +1 
Retail shop lifting can reduced by displaying the articles in the locked cabins and when the customer is intersted to buy can be removed from the cabin by sales executive and delivered to the customer after receiving the payment.
  Commented by  Devi Kaladeen, Audit Manager, Health Sector Development Unit    | 11 10 2009 14:24:45 +0000
OMG is this for real? 
  Commented by  Kashif Billal, Strategic Design Manager, Shravan    | 11 10 2009 08:38:17 +0000
Rating : +1 
Oh My God!!!
Retail Shrinkage in India is Terrible, though being the most Promsing & one of the fastest growing economy of the times. But it is seriuos matter of concern.
Add your comment on "India No.1 in Retail theft"

Rate:
Submit
Leading Job portal
Viewers also viewed
In order for a business to grow in times where crisis occur, its vital to look for a more...
 
69 referals 6 arguments, 2006 views
Multibrand retailing is good for India vs Multibrand retailing is bad for India
 
1451 referals 17 arguments, 460 views
The debate to open up multi-brand retail to foreign direct investment will be taken to states to...
 
1076 referals 38 arguments, 343 views
more...  
Recent Knowledge (20)
Watching TV causes Obesity, Diabetes and Sleeplessness Watching TV is an ideal way to pass time...
 
379 referals 7 comments, 173 views
In world of financial engineering , I have this information to share with you . Well the...
4 referals 3 comments, 747 views
The King is ailing, who will succeed the King? That is of course the question on the mind of...
 
1171 referals 13 comments, 274 views
more...  
More From Author
 A Sessions Court at the Sabarmati Central Jail in Ahmedabad on Tuesday delivered the crucial judgement in the Godhra train fire of 2002, convicting 31 people and acquitting 63 others. Even Godhra Town Municipality chief Mohammad Abdul Rahim...
Sir, please clearly mention the sides and give a bit of explanation so that we can give proper comments.
Yes I agree with you.  But Mumbai does not have a healthy environment.      
more...