The 2011 Retail Profit Protection Report

• Retail shrinkage is three times the amount generated in profits for an average retailer • Reducing shrinkage by 84% would increase profits by 51% • Implementation of effective policies and procedures can reduce shrinkage by as much as 68%
 
 
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Retail
Profit
Improvement
Shoplifting
Employee
Theft
Shrinkage
Management
Perishable
Receiving
Error
Mystery Shopping

Industry:
Reports

Location:
Manchester - Lancashire - UK

March 16, 2011 - PRLog -- Contact: Romeo Richards 0161 205 9060, romeo@theprofitexperts.co.uk

The 2011 Retail Profit Protection Report Reveals A Shrinking ‘Bricks And Mortar’ Shopping Population And Suggest Ways Retailers Can Increase Shoppers Confidence.
 
•   Retail shrinkage is three times the amount generated in profits for an average retailer
•   Reducing shrinkage by 84% would increase profits by 51%
•   Implementation of effective policies and procedures can reduce shrinkage by as much as 68%

Manchester 25 February – Albert Einstein once set a test for a group of post graduate students at Preston University. On the way back to Einstein’s office, his assistant asked him why he had set the students the same test that he had set the previous year. He replied, ‘because the answers have changed from last year’.

Like the great doctor, retailers must realise that the answer to increasing profits in retailing has changed. Antiquated strategies of price wars or multiple promotions are relics of past centuries that are ineffective in the 21st century retail environment.

Branded retailers are no longer just competing with one another, but with smaller more efficient online retailers. Marks & Spencer, House of Fraser, Selfridges must now realise that a major factor in their profitability are the emerging companies and services that are driving the success of the 2nd internet boom such as  Google, eBay, Amazon or a factory owner in China whose name they have never heard of.  From 2005 to 2009, the online shopping population grew to 1.6 billion and is predicted to rise to 2.3 billion by 2014.

The factors of distribution have changed; presently anyone can run a multimillion pound retail operation from the back of their car if they have an internet connection. Consumers are now ordering directly from factories. This phenomenon is creating a whole new dynamic in retailing. Those retailers well placed to confront this brutal reality of the changing retail landscape will be the ones who prevail in the end.

The 2011 Retail Profit Protection Report is a comprehensive document compiled with the intention of providing retailers with the tools with which to navigate these ever changing conditions. It demonstrates to retailer’s creative and innovative ways of generating profit without ‘giving away’ their goods. It highlights specific aspects of retail operations and contains best practice guide to assist retailers.
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If your goal for this year is to make profit then this report is for you.
It's short and to the point -- Check it out right here:
Links: http://theprofitexperts.co.uk/lnd/RetailProfitProtection/

Profit Improvement Experts (PIE) is a division of Richards International Group (RIG). RIG has authored numerous articles, whitepaper, best practices guide and eBooks on retail profit protection. For more information on RIG please visit: www.theprofitexperts.co.uk

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Profit Improvement Experts (PIE) is a division of Richards International Group (RIG). RIG has authored numerous articles, whitepaper, best practices guide and eBooks on retail profit protection. For more information on RIG please visit: www.theprofitexperts.co.uk
End
Source:Richards International Group
Email:***@theprofitexperts.co.uk Email Verified
Phone:+44 161 205 9060
Zip:M40 8WN
Tags:Retail, Profit, Improvement, Shoplifting, Employee, Theft, Shrinkage, Management, Perishable, Receiving, Error, Mystery Shopping
Industry:Reports
Location:Manchester - Lancashire - United Kingdom
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Page Updated Last on: Mar 16, 2011



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