Retail

In India with over one billion inhabitants, consumer retail demand is growing rapidly as the region modernizes, paving the way for retail expansion. With rapid industry development, the majority of retailers focus on improving loss prevention solutions that maximize growth and profitability.

The retail boom in over the last three to four years has seen an influx of world-class malls and shopping centers in India.  With a larger shopping area, multiple entrances, and an open counter format, it has become difficult to deter shoplifting activity – driving the need for security. The rising prevalence of hypermarkets and department stores, which stock large number of products, must-have high security to prevent pilferage.

According to a study, shoplifting accounted for over 50 percent of loss in the Indian retail market, which remains the number one source of inventory loss. Employee theft represented the second largest source of inventory loss at 20 percent.  This rapidly growing market is prompting retailers to look for effective and innovative loss prevention methods.