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Comment: 2008 Retail Resolution - Secure Profits!
The high street suffered in 2007 with slow consumer spending, so naturally this January many retailers are concocting plans to ensure 2008 is far more prosperous to make certain the detrimental trend does not continue.
However, in order to ensure profits are maximised, protecting stock is just as important as selling products, writes David Nuttall, Managing Director of Checkpoint Systems UK. Across Europe, 2007 saw a 0.3 per cent drop in the amount spent on security. This was mirrored in the fact that shrinkage rose to £20 billion from £19.5 billion in 2006, highlighting the importance of protecting goods.Without security in place, retail stock is simply walked off shelves and out of the door and this has a significant impact on profits. Despite this, the Global Retail Theft Barometer, conducted by the Centre of Retail Research and commissioned by Checkpoint Systems, found that 38.5 per cent of the most stolen items still remain unprotected. This includes alcohol, cosmetics and skincare products, women's wear, perfumes, razor blades, DVDs and CDs, and Children's wear.
In a difficult market environment, when disposable income is low and high street spending is down, it is unbelievable that these high-risk lines still remain unprotected.
The best way to ensure retailers have a joyful and profitable 2008 is a two-pronged attack; make sure the necessary security solutions are in place to combat theft and increase sales.
If I was a retailer, my first new year's resolution would be - this year I will minimise theft and stop welcoming shoplifters with open arms.
Tagged as: checkpoint | loss prevention
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