Indian retail suffers loss of Rs 9691 crore

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Shoplifting and waste led to Indian retail industry suffering massive loss of Rs 9691 crore in the current year, said a study.

Despite the boom in the retail sector and international retail giants like Wal-Mart, Metro, Tesco and others going all out to secure a foothold in the huge Indian market, a study found that the average shrinkage rate(stock loss from crime or waste expressed as a percentage of retail sales) for India is 2.90 per cent of sales.

The first edition of the ‘Global Theft Barometer’ conducted by the Center for Retail Research in Nottingham, United Kingdom and Checkpoint Systems observed that the Indian shrinkage rate has actually fallen dowm from 3.20 per cent in 2006.

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