What is brand protection?
In the modern-day world where businesses are started, grow and evolve every day and novel ideas are on the rise each day, one of the most important things one has to keep in mind is protecting their intellectual ideas. It is common for emerging businesses to lose what they solely worked hard for to counterfeiting and piracy but unfortunately don’t have the legal fees or the legal standing to fight for their brand.
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A recent article published by Loss Prevention magazine refers to a 2015 PricewaterhouseCoopers survey of Loss prevention professionals, focussing on the significance that certain findings may hold for retailers in the GCC. The survey indicated that inventory management complexity increases when implementing and / or integrating new systems that enable omni-channel retailing. This increase in complexity results in an increase in process failure and administrative errors, which have a direct impact on shrinkage. This is hardly a surprising finding but it is one which is of growing importance to the local retail environment.
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While several LP surveys have been carried out across the United States and Europe over the past two decades, there has been little reliable data available that was specific to the GCC. Acknowledging the regions status as a global retail powerhouse, we recognised the importance of identifying and sharing trends in regional LP practices. Our belief was that context specific information sourced from the region’s most reliable retailers would help set the benchmarks for local aspiration and improvement and enable informed decision making moving forward. We made it our goal to deliver the first ever regional study examining the causes and impact of Shrinkage in the GCC, publishing the GCC 2017 LOSS PREVENTION SURVEY that we were able to deliver thanks to our sponsors at MVP Tech, Axis Communications, Milestone Systems, Checkpoint and Resolver.
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