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India’s shrink rate, or loss of stocks because of thefts by customer, employees and suppliers, as a percentage of sales was 2.38%, costing local retailers Rs3,470 crore, according to the fifth annual edition of the Global Retail Theft Barometer, an annual survey conducted by the Centre for Retail Research in Nottingham, UK, and underwritten through an independent grant from Checkpoint Systems.
The study was conducted across 43 countries between July 2010 and June 2011. In India, it covered 100 retailers, of which 60 were part of modern chains and 40 were from the unorganized sector.
The biggest contributor to losses was thefts by customers, accounting for 47.6% of the total, followed by pilfering by employees at 25.5%. The losses have, to be sure, declined 12.5% from a year earlier, according to the study.
“Over the years the shrinkage rate is coming down as we are getting better at managing our supply-chain logistics and moving towards hyper retail,” said Mohit Kampani, vice-president of merchandising, food and fast-moving consumer goods at Spencer’s Retail Ltd.
Over the past three years, shrinkage at Spencer’s has reduced from 2% of sales to less than 1% now, said Kampani.
To reduce thefts, retailers in the nation are spending more money on security solutions. “India’s spends on loss prevention at 0.23% of sales is higher than China and Asia Pacific region but lower than the global spends, which are at 0.35% of sales,” said Dharmesh Lamba, general manager, customer management, South Asia, Checkpoint Systems India Pvt. Ltd.
Two years old Thread . 50 cent army must be running low on news . Raise a petition for Better content from your Shift Master . We will sign it .
I've met a couple of US-born Indians that are alright but never an Indian-born one.
Have you met an Indian-born Indian that behaved in a civilised manner?
the 1962 India-china war is far older but yet the Indian media often re-air it over and over again. China hatemongers in India must be running low on news
Two years old Thread . 50 cent army must be running low on news . Raise a petition for Better content from your Shift Master . We will sign it .
What is wrong with these Indians, seriously what is wrong with these people?
Can't they behave like humans? They rape, they defecate, they are corrupt, they shoplift, they are arrogant, they boast.
Just once I would like to see a decent Indian act in a civilised manner. Is it too much to ask?
I am shocked indeed by this bizzare indian behaviour - WTF - the 5th time in a row as the champion of the world in shoplifting!
provided with the report of a thorough health check, good manners and excellent personal hygiene, I think the vast majority of Chinese members here can take you cheerleaders on as lackeys. Get yourselves a job to feed your hungry families instead of cheerleading 24/7 on forums trying hard in midst of immense difficulty for covering up the mountains of dirts in your country!
Actually I have. That is why I could not believe what you said to be true. Not all of them are the same, if they were, the stock loss rate would not be 3% but 100%.
how can you compare a drop of water with the volume of the indian ocean!?!
New Recruit
I bet if the org rolls out the latest report on shoplifting crimes - guess who will be the hottest candidate?
It's the same thing most of Chinese have mastered themselves in this forum.
That's because you're a communist retard thinking that everybody,or most likely paid to say that everybody that disagrees with the red chibots in an indian.Now,as i've said ,you can drag your little chicom complaints to the mods and see the results,parotting the same ideeas just because you're downright stupid and can't come up with something new,won't cut it anymore.
@Aeronaut...i believe you've said we must tell you when some clowns make false flag accusations.Here is a new client,the 50 cent commie known as @shuttler.
the 1962 India-china war is far older but yet the Indian media often re-air it over and over again. China hatemongers in India must be running low on news