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Loss in retail industry close to 100 billion dollars

The research by Tyco Retail Solutions made on the companies representing the 80% of the world retail industry has revealed the enormity of the expenses caused by in-store losses.

Losses caused by malevolent people result in great damaged in retail industry. “Sensormatic Global Retail Industry Loss Index” prepared by Tyco Retail Solutions, one of the greatest global partners of Sensormatic, has revealed the situation the retail industry is faced with.

The research made by PlanetRetail RNG is one of the most detailed works on this topic. In 14 countries, companies representing the 80% of the entire retail industry were interviewed. According to the results of the research, the expanse of the losses for the industry reaches up to 100 billion dollars. The companies taking place in the researches have 230.000 stores and the total of their turnover is over 1.5 trillion dollars in the 2016-2017 period. These facts prove the accuracy of the results of the research.

Highest loss in USA, Europe in second place

Taking a look at the details of the report, we see that the greatest loss is in the United States with a percentage of 1.85. Europe is in the second place with 1,83%. South America has the loss percentage of 1,81 and Asian Pacific Region has a loss of 1,75% .

The report also includes data on the rates of placing alarm labels on the products. The percentage of labeling in the production stage is 32.42%, this is 35,33% in the store. When global data is considered, the percentage of labeling in the production stage is 31,97 and 34,40 in the store. We see that more than 30% of the products have no labels both in Europe and world wide.

Textile and accessory stores have greatest loss

According to Sensormatic Global Retail Industry Loss Index, textile and accessory stores have the greatest loss. The loss in these fields is 1,98%. The loss changes from 1,84 to 1,79 at the multi-department stores, consumer electronics stores, and local chain supermarkets. Hypermarkets have the lowest loss with a percentage of 1.73.

Employees play an important role in the losses

According to the reports, there are four essential reasons in the product loss. External theft is in the first place with a percentage 34,34. Losses caused by the suppliers are in the second place with a percentage of 23,28. Losses arised from employees have a percentage of 22,95. Losses caused by the management is the last place with a percentage of 18,43.

Supermarkets have the highest risk in Europe

Looking at the details on the retail industry in Europe, the loss in discount supermarkets is 2,24%. 2,05% in gas station supermarkets, 2,01% in whole sale supermarkets. The most important reason for losses in Europe is external theft with percentage of 38,02. Losses caused by suppliers and employees have a share of 22%. Losses caused by management is 17%.

According to the report, the loss in hypermarkets and supermarkets is over 24 billion dollars globally.

Most preferred security precautions

There are three main precaution topics to prevent the losses. The CEO at Sensormatic, İsmail Uzelli, has stated that the most preferred precaution is the electronical product tracking solutions. Mr. Uzelli, expressing the awareness in the retail industry has increased with the help of this report, stated that the pass control and video surveillance systems are the other top preferred ones.

Mr. Uzelli, expressing the retail industry should prefer security solutions including electronic systems more, says the situation in Turkey has similarities with the global one. Mr. Uzelli states that the awareness in Turkey by means of both technology and electronic security is high.

 

09.08.2018
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