25 November 2010

Indian Retailers

Shoplifting Indians cost retailers Rs 9K cr:

The Indian retail sector lost Rs 9,295.9 crore to shoplifting and theft during the 12-month period ended June, 2010, which added Rs 6,631 to the shopping bill of the average family, according to a survey.

As per the Global Retail Theft Barometer Study, India also had the dubious distinction of the highest rate of retail shrinkage -- a reduction or loss in inventory due to shoplifting and theft -- in the world.
"Retail shrinkage in India continues to rank the world's highest at 2.7 per cent. Total cost of retail crime reached Rs 9,295.9 crore, shared at Rs 6,631 per family," according to the Global Retail Theft Barometer Study (GRTB).
The annual survey was conducted by the Centre for Retail Research in Nottingham, UK, and sponsored by Checkpoint Systems, a shrink management and merchandise visibility firm.
In India, 47.3 per cent of retail shrinkage was due to shoplifting and 26.4 per cent due to employee theft. The highest rate of shrinkage was seen in apparels.
Globally, retail theft was estimated at Rs 4,98,000 crore (USD 107.3 billion) in 2010. This translated into just 1.36 per cent of total retail sales between July, 2009, and June, 2010, compared to 1.43 per cent in the year-ago period.
As per the study, the lowest rate of shrinkage was witnessed in Taiwan, at 0.87 per cent of retail sales, whereas the average rate in the Asia-Pacific region was 1.16 per cent.
Infant formula and alcohol were the products most stolen from grocery stores, while fashion clothing, accessories, health and beauty items were among the most shoplifted items in the Asia-Pacific.
The study said increased loss prevention spending by retailers globally contributed to lower shrinkage rates between July, 2009, and June, 2010.
Retailers around the world increased spending on loss prevention and security by 9.3 per cent to Rs 1,24,400 crore (USD 26.8 billion) in 2010, compared to the previous year.
"Even with the shrinkage decrease, retail crime cost the average family in 42 countries and regions surveyed an extra Rs 8,632 (USD 186) on their shopping bill," Centre for Retail Research Director Joshua Bamfield, who authored the study, said in a statement.
The study covers key trends in retail shrinkage and crime in 42 countries and regions across the world, including the US, China, India, Europe, Japan and Australia. Russia is included for the first time this year.

India and Obama

How India cost Obama:

On November 4, Anderson Cooper did the country a favour. He expertly deconstructed on his CNN show the bogus rumour that President Obama’s trip to Asia would cost $200 million a day. This was an important “story.” It underscored just how far ahead of his time Mark Twain was when he said a century before the Internet, “A lie can travel halfway around the world while the truth is putting on its shoes.” But it also showed that there is an antidote to malicious journalism — and that’s good journalism.In case you missed it, a story circulated around the Web on the eve of President Obama’s trip that it would cost US taxpayers $200 million a day — about $2 billion for the entire trip. Cooper said he felt impelled to check it out because the evening before he had had Representative Michele Bachmann of Minnesota, a Republican and Tea Party favourite, on his show and had asked her where exactly Republicans will cut the budget. Instead of giving specifics, Bachmann used her airtime to inject a phony story into the mainstream. She answered: “I think we know that just within a day or so the president of the United States will be taking a trip over to India that is expected to cost the taxpayers $200 million a day. He’s taking 2,000 people with him. He’ll be renting over 870 rooms in India, and these are five-star hotel rooms at the Taj Mahal Palace Hotel. This is the kind of over-the-top spending.”The next night, Cooper explained that he felt compelled to trace that story back to its source. His research found that it had originated from a quote by “an alleged Indian provincial official,” from the Indian state of Maharashtra, “reported by India’s Press Trust, their equivalent of our AP or Reuters. I say ‘alleged,’ provincial official,” Cooper added, “because we have no idea who this person is, no name was given.”It is hard to get any more flimsy than a senior unnamed Indian official from Maharashtra talking about the cost of an Asian trip by the American president.“It was an anonymous quote,” said Cooper. “Some reporter in India wrote this article with this figure in it. No proof was given; no follow-up reporting was done. Now you’d think if a member of Congress was going to use this figure as a fact, she would want to be pretty darn sure it was accurate, right? But there hasn’t been any follow-up reporting on this Indian story. The Indian article was picked up by The Drudge Report and other sites online, and it quickly made its way into conservative talk radio.”Cooper then showed the following snippets: Rush Limbaugh talking about Obama’s trip: “In two days from now, he’ll be in India at $200 million a day.” Then Glenn Beck, on his radio show, saying: “Have you ever seen the president, ever seen the president go over for a vacation where you needed 34 warships, $2 billion — $2 billion, 34 warships. We are sending — he’s travelling with 3,000 people.” In Beck’s rendition, the president’s official state visit to India became “a vacation” accompanied by one-tenth of the US navy. Ditto the conservative radio talk-show host Michael Savage. He said, “$200 million? $200 million each day on security and other aspects of this incredible royalist visit; 3,000 people, including Secret Service agents.”Cooper then added: “Again, no one really seemed to care to check the facts. For security reasons, the White House doesn’t comment on logistics of presidential trips, but they have made an exception this time. He then quoted Robert Gibbs, the White House press secretary, as saying, “I am not going to go into how much it costs to protect the president, [but this trip] is comparable to when President Clinton and when President Bush travelled abroad. This trip doesn’t cost $200 million a day.” Geoff Morrell, the Pentagon press secretary, said: “I will take the liberty this time of dismissing as absolutely absurd, this notion that somehow we were deploying 10 per cent of the navy and some 34 ships and an aircraft carrier in support of the president’s trip to Asia. That’s just comical. Nothing close to that is being done.”Cooper also pointed out that, according to the Congressional Budget Office, the entire war effort in Afghanistan was costing about $190 million a day and that President Bill Clinton’s 1998 trip to Africa — with 1,300 people and of roughly similar duration, cost, according to the Government Accountability Office and adjusted for inflation, “about $5.2 million a day.” When widely followed public figures feel free to say anything, without any fact-checking, we have a problem. It becomes impossible for a democracy to think intelligently about big issues — deficit reduction, health care, taxes, energy/climate — let alone act on them. Facts, opinions and fabrications just blend together. But the carnival barkers that so dominate our public debate today are not going away — and neither is the Internet. All you can hope is that more people will do what Cooper did — so when the next crazy lie races around the world, people’s first instinct will be to doubt it, not repeat it.

"Eating dirt make your kids smarter"

Eating dirt could actually make your kids smarter: Study

Here's something that will blow a modern parent's mind!

Here’s some good news for parents who constantly worry about their kids’ hygiene after they spend time in the play ground – eating dirt could actually make your child smarter.
A new study has shown the positive side of soil-borne bacteria that is likely to be inhaled when children are playing outside.
Scientists discovered that mice that were fed the dirt bacteria Mycobacterium vaccae navigated complex mazes twice as fast as those which were not.
The research was welcomed by Kidsafe NSW Playground Advisory Unit program manager Kate Fraser as another reason kids should be encouraged to get outside and get dirty.
Over the past few years terms like ''cotton wool kids'' and ''helicopter parents'' are becoming really common, the Courier Mail quoted Fraser as saying.
So we thought it was time to air the laundry on what's happening with our play spaces and make sure we are offering kids challenges.
We need to make playgrounds safe, but also offer a certain amount of risk and controlled risk. It's a real balancing act.
It is believed the bacteria increases levels of serotonin, reduces anxiety and may also stimulate growth in certain neurons in the brain.
Fraser said that while playing in the dirt was great, parents should take care around potting mix, which can contain harmful bacteria.
But as long as safety directions are followed, that can be a great learning experience, too, she said.
The study has been published in the current issue of Kidsafe NSW's playgrounds newsletter.