17 NOVEMBER 2023 ASIAN TRADER 5
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NEWS/COMMENT
Employees, working in distri-
bution centres (DCs), distribu-
tion and stores, account for %
of value of theft, a recent re-
port has stated.
According to a report
released by Thruvision Group
plc along with Retail Econom-
ics, retailers forecast that theft
will cost them £7.9bn this
year. Shoppers account for
60% of the value of the theft
(£4.7bn) while employees,
working in distribution
centres (DCs), distribution
and stores, account for 40%
(£3.2bn).
Theft in DCs is the employ-
ee crime that is under-report-
ed by retailers with some
42.6% (£1.4bn) of the total
employee theft from DCs,
states the report.
Around two thirds of
retailers interviewed believe
that over the past decade the
opportunity for crime in DCs
has accelerated. Among those
that have seen an increase in
employee theft over the past
year, 70% state they have seen
an increase in organised crime
in DCs.
“That employee theft is a
rapidly growing problem is not
a surprise, but the scale of
financial losses suffered by UK
retailers in their distribution
centres really is,” said CEO
Colin Evans. “What is even
more surprising is that so few
retailers seem to be prepared
to deal with this very serious
problem when proven
technology solutions exist –
only one in six retailers are
investing in detection and
deterrence technology to solve
Distribution Centre theft.”
Richard Lim, CEO of Retail
Economics, added: “Retail
crime adds to a backdrop of
rising operating costs that
have squeezed profitability in
recent years. Proactive
measures not only curb the
impact of theft, but also
cultivate a safer environment,
attracting talent and fortify-
ing the industry.”
Good vanishing out the back before walking out the front
‘Theft by employees rapidly
‘Theft by employees rapidly
growing in distribution centres’
growing in distribution centres’
David Potts said the heat
is leaving inflation, but
added a warning that
vegetable lines were
likely to surge in price
ahead of Christmas.
Potts is departing the
former top-four multiple
after eight years at the
helm. He is succeeded by
Rami Baitieh, formerly of
Carrefour, the French
grocery giant. Under Potts’s
tenure the supermarket
chain acquired McColls
convenience shop chain.
“There’s a bit more
inflation coming through
on veg, some salad lines,
which is partly the erratic
weather action that’s been
going on in recent times”, he
said.
“But the trend is very
much on the downward side
of inflation… we’ve made
some further price cuts this
week. Next week we’re
reducing our Christmas
basket by £2 year-on-
year”.
Official figures from
the Office for National
Statistics (ONS) show the
consumer price index
measure of inflation stood
at 6.7% in the year up to
August, down from a
recent high of 11% in
October last year.
According to British
Retail Consortium, annual
shop price inflation dropped
again to 5.2% in October
from 6.2% in September, the
lowest rate since August
2022.
‘Worst of inflation is behind us’
– Morrisons’ departing boss
Top tipple tips
Top tipple tips
for Christmas
for Christmas
Nick Gillett is Co-founder and
Managing
Director of
successful
spirits distribu-
tor Mangrove
Global, as well as
an industry
expert and
commentator. Nick advocates
for bold and daring independ-
ent producers and here he
explains the opportunity
independent brands present to
alcohol wholesalers.
There’s no two ways about it –
home-entertaining is going to be BIG
this Christmas. And as people
venture out to their friends, or host
parties at home, they’ll need to stock
up on some delicious spirits to fuel
the merriment.
To make the most of it, put time
and effort into your range. Cover all
categories, stock a couple of
premium options for those who are
looking for a bottle of something
nice, and as always – be willing to
impart a little knowledge by reading
up on your selection. With the rise of
at-home cocktail making, you might
want to create bottle bundles
complete with recipe cards, or even
stock some well-chosen RTD
varieties. If you’re new to the world of
RTDs, start with a lower price point
option, and if you think you have the
right custom for it, a premium option.
There really are some delicious
pre-mixed cocktails out there – and
they’re so convenient for consuming
at home, or even en route to the
Christmas party.
The second thing to remember is
that spirits are the golden goose of
gifting. If in doubt, a nice bottle of
something is always an excellent
prezzie. Don’t be afraid to level up
your range with some new additions
and make these stand out on the
shelves. In the run up to the festive
period, brands will be going out their
way to help you promote, so make
the most of any initiatives available.
Oh – and make sure you have those
perfectly sized bottle gift bags
located conveniently close too!