Eye to curb retail shrinkage

Zicom is a pioneer in electronic security in India and has helped many a retail firms in protecting the bottomline. Shrinkage is very high in Indian retail and it plays a significant role in curbing this menace. In an interaction with Pramoud Rao, Promoter Managing Director, Zicom we get details on how there technologies work in the retail business environment.

Neha Malhotra (NM): Can you brief us about Zicom?

Pramoud Rao (PR): Established in 1995, Zicom Electronic Security Systems Ltd is the pioneer in Electronic Security with many firsts to its credit in India. The only listed Security Company in India and the first to introduce Wireless Security Equipments in the Home and Retail segment, Zicom is the market leader with its innovative array of reliable, state-of-the-art products and solutions.

The robust roster of clients attest to Zicom’s unmatched operational excellence and after-sales service, making the company synonymous with electronic security services in the country. Distinct innovations in marketing electronic security systems and services have established Zicom as an award-winning leader in India’s security domain

NM: How is Zicom applicable in Retail?

PR: Zicom has introduced many such products that are applicable in providing security solutions to retail. For example, Zicom’s multi-featured Finger Print lock enables the retail shops to have multi layered security while accessing an entry to any restricted part on the floor. Its Access readers help in having a complete time and attendance solutions which also supports staff management. Besides, large format retails are now opting for a complete security solution that can not only help them monitor the walk-ins in their store but also helps them to keep an eye on the activities by their staff, monitor the inventory, shrinkages etc.

NM: How does it aid a retailer?

PR: Opting for a complete security solution has gained a top position on a retailer’s laundry list. With an increase in pilferage levels, dominance by staff unions, theft and burglary retailers are now gaining pace in getting the electronic security products installed on the floor of their outlets.

NM: What is the current rate of retail shrinkage in India? To what extent can security systems curb this retail loss? 

PR: In India, retail losses are around seven to eight per cent while internationally it is only two per cent. Electronic Security Systems have limitations in restricting losses, since it’s very difficult to curb insider’s theft. The best approach is to have a integrated plan which builds process, products, technology, training to personnel’s and back end command and control monitoring to ensure that the store have a robust security cover and just not some security product installed. Invest has to be in a holistic approach instead of just product or personnel’s.

NM: How well are retailers adopting this technology?

PR: They are now getting into a practice of allotting a part of their capex outflow in installing state of the art security systems. Importantly, retailers have now understood the concept of ROI by investing in a Security System which in turn encourages investment. Most retailers in India today, do not shy away from investing in Security Systems.

NM: Who all are your clients in retail?

PR: Hypercity, Mc Donalds, Charagh Din, Titan, Gitanjanli, D’ damas, Lakme, Pizza Hut, Gangar Opticians, Metro Shoes, Kimaya Fashions, BPL Mobile Stores, Mobile Stores, Samsonite, etc. all work with us to curb shrinkage.

NM: What products do you have with respect to retail?

PR: We have the entire suit of products starting from a simple Burglar Alarm System, Finger Print Locks, Finger Print Attendance and Access System, Monitored Fire Alarm System, People Counting Systems. The company has recently introduced IP based products like the Alarm System, Remote Video, etc.

NM: What are the company's future plans for catering to retail?

PR: Zicom is adopting e-commerce as a platform to cater to security needs of its customers, making it easily accessible online. Besides, it is in a process of making its presence felt in some of the leading electronic retail chains like Kohinoor, Snehanjali, Croma, Vijay Sales etc.