Two in three luxury retailers predict rise in theft

by | Aug 14, 2023 | Business, Features, Technology | 0 comments

Theft potentially on the rise

Luxury retailers are braced for a rise in the value of losses to theft and security issues and are planning to boost spending to fight back , new global research by communication technology company Communications Specialist Ltd shows.

Its study with senior executives at luxury retailers with total annual turnover of $3.1 billion across Asia, Africa, Europe, the US and South America found nearly two out of three (62%) expect a rise in losses to theft over the next three years. Nearly a third (31%) predict a dramatic increase.

Senior executives questioned are generally happy with the overall level of security operations in the luxury retail sector. Around 24% rate it as excellent while 64% say security is good and just 12% rate it as average.

However the research by Communications Specialist Ltd which supplies technology supporting luxury retailers and their clients found they are planning to significantly increase spending on security over the next three years.

On average spending will be increased by 28%, the study found, but one in five (20%) expect security spending to increase by 40% or more in the next three years.

Kevin Buchler. Chief Marketing Officer at Communications Specialist Ltd, said: “Security is crucial for luxury and high-end retailers given the value of the goods on sale and it is worrying to see so many firms concerned about a rise in the value of losses from theft.

“In general they are happy with the level of security the sector already has but clearly there is room for improvement as highlighted by the plans to increase spending.

“We are seeing the impact in increased interest from the sector which represents a growing market for secure radio communications and communications technology.”

Communications Specialist Ltd provides sales support on two-way radio systems as well as training, fitting and commissioning of equipment, systems amalgamation, on-site instruction, maintenance and the provision of spare parts internationally.

Its team of radio system experts have more than 25 years’ experience and will support and help resolve complex network issues on-site or remotely.

more latest news ➡

Wellbeing at Pugh's Garden Centre

Wellbeing Winners at Pugh’s Garden Centre

Pugh’s Garden Centre is a well-known, and highly-regarded garden centre in South Wales. Set up by Sydney Pugh in the 1940’s, it originally started as a wholesale fruit and vegetable grower working from a nursery and selling from the gate. In the 1960’s, Sydney’s...

Cherry Lane acquires Norwich garden centre

Cherry Lane acquires Salhouse Garden Centre near Norwich

A garden centre on the outskirts of Norwich is under new ownership and it will be revamped over the coming months. The Cherry Lane group has acquired Salhouse Garden Centre in Honeycombe Road, which is its 18th site. It has garden centres throughout East...

job opportunity at Grimsby Garden Centre

Unique Garden Centre Business Manager opportunity

Grimsby Garden Centre is excited to share this opening for a Garden Centre Business Manager which is rewarding career opportunity that combines retail management with making a difference in the local community. As Grimsby Garden Centre is owned...

Prosper and Yorkshire Garden Centres part ways

Prosper Bidding Farewell to Yorkshire Garden Centres

Prosper, a leading buying group committed to supporting enterprise and growth within our industry, announces the departure of YGC, effective 30th September 2024. Terry Head Retail Director of Stewarts and Chairman of Prosper, stated, "YGC has been a supportive...

Kent & Stowe Autumn promotion

Kent & Stowe autumn promotion to help boost sales

Kent & Stowe, renowned for its high-quality gardening tools that help gardeners achieve extraordinary results has an array of enticing offers to support garden retailers this autumn. These promotions will encourage the nation to keep on gardening and ensure...

Yorkshire Garden Centres joins the Tillington Group

Yorkshire Garden Centres to join the Tillington Group

Yorkshire Garden Centres have announced that they are to join the Tillington Group.  The Bradford based business took over Tong Garden Centre in 2015 and now operate six centres across Yorkshire from the base at Tong. Mark Farnsworth, Managing Director of Yorkshire...

Dobbies charity appeal

Dobbies Garden Centres seeks new National Charity Partner

Dobbies has launched the search for its next National Charity Partner, as part of its 160th year celebrations. The new partnership will commence on 1 March 2025, following the conclusion of Dobbies’ successful nine-year collaboration with the Teenage Cancer Trust...

Banners for marketing

How Banners Generate Business for Garden Centres

In the verdant world of garden centres, where competition blooms as fiercely as the flowers on display, standing out is paramount to cultivating success. Amidst an array of advertising strategies, banners have emerged as a particularly potent tool for garden...

Read GCR's latest edition!

Subscribe ToThe Wednesday Word

Subscribe To
The Wednesday Word

 

Get all the latest news, events & more straight to your inbox every Wednesday.

You have Successfully Subscribed!

Pin It on Pinterest

Share This