Published on March 6, 2014
TREND’S IN RETAIL SECURITY PROFUSION INDIA CONSULTING
The Retail Picture India has seen a recent boom in retail market and expansion of organized and un-organized retail in big way. With domestic and international stepping ahead to create their footprints in Tier1 to Tier II cities, the retail show is in demand. As earlier seen the real estate sector and governmental polices has favored the retail expansion in new phases. The picture is now clear with more and more international brands entering , the domestic front is also leapfrogging to catch the wind. The government has also projected promising policies to enhance FDI in India and has also been a major employment factor for India in past few decades and more to come. Multiple investment routes are available for International retailers via master franchise and regional franchise. The result of which has showcased a large format of stores as destination places and multiple formats is been seen to cater the market. So much in hype, the consumer is now available with varied options to spend and add to their lifestyle. The retail cycle in motion has also helped various other verticals to prove themselves in accordance. Supply Chain, Logistics, Retail technologies ,Security , Architectural and IT platform technologies has seen an upsurge in demand as retailer’s want to meet international standards.
The Concerns Major issues pertaining to Retailers are 1. Supply Chain Challenges:- With retailers spreading across diverse markets and different cities, multiple vendors and distributors spread across various parts of country , supply chain is the backbone . 2. Real Estate:- the diverse format of real estate and its non regulated format is also pushing retailers to consider options in an unexpected way, huge cost in operations and capital infra are also factors to ailing their feet. 3. Labour:- Skilled labour shortage paves a un comprised way for retailers and project operators to put their name at test. 4. Retail Theft:- With migration of people all across the country and new opportunities opening up in tier I, II & III cities. Retailers are facing new levels of shoplifting, retail theft and fraud cases which in-turn effect store performances and add a major pie to retail shrinkage. 5. Basic Technology dependency :- Retail operators are unevenly depending upon basic technologies like IT, Security, POS , RFID and Manned guards. More and more platforms are getting integrated, but its cost and ease of use is still at experimental stage.
IP a Solution IP is the New World IP is turning heads for a multiple platform integration with low costs in maintenance and infrastructure. POS Systems, Video Surveillance with Analytics, Cloud features , Online Monitoring and asset tracking are promising faces which can answer a lot many questions for retailers. Integration allows multiple systems to be operated with single seat interface enabling one person be trained to handle operations and cutting cost and man hours oversight. System complexity reduces allowing easy maintenance, remote monitoring , information exchange, integration over existing security systems providing flexible , ease of use, cost effective tactic and tools. The platform help in extending the result beyond the realm of security and improve efficiency in overall store management, Including environmental control, access, space management, assets controlling and monitoring over multiple Sites and in-store management.
Electronic Article Surveillance Articles referring to store assets , give a huge hit to the retailers and add into shrinkage. As estimated 50% of total loss adds results from shrinkage. The major challenge to how to protect the asset in the store and still provide an unmatched customer experience. The electronic article surveillance has now gone beyond from not only protecting the merchandise from getting shoplifted. Traffic intelligence , asset tracking, item level asset sourcing and RFID are the new emerging platforms which are helping the retailers to control their assets and merchandise in ease. Distinguished store entrances, better inventory cycle turnouts, customer in-touch experience with enhanced article protection from getting shop lifted. The article surveillance has moved beyond the apparel. The technology is now providing getter benefits and options for various other articles like jewelry, Liquids, packaged goods, cosmetics, fragrances and eyeglasses. Store analytics is another integrated platform choice available with retailers. They can know optimize store performances with knowing at their back hand the item level sales, merchandise availability and displaying, traffic patterns, customer preferences, loyalty programs and centralized store experiences.
The Future Platform The traditional retail is a platform which is converging the efforts of business in various other verticals . Technologies which very nascent has grown and emerged with new virtues in retail business and are continuously leapfrogging towards a uncommon expertise. Retail technologies are going in hand with new facets in retail . No matter technology has also offered an ecommerce platform with its own challenges. The traditional front of retail is still in keen to in-touch experience and customer delight. The continuous emerging of new retail formats in the form of hypermarkets, High end Mall, Highway stores and high street coupling are pushing the technological front in new way and provide peace of mind to retailers.
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