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1 – 10 of over 25000Solomon Pelumi Akinbogun, Olayemisi Funmi Kayode and Tunbosun Biodun Oyedokun
The purpose of this study is to examine the impact of a soft facility practice in the organized retail sector. In specifics, it draws context from a security practice and assesses…
Abstract
Purpose
The purpose of this study is to examine the impact of a soft facility practice in the organized retail sector. In specifics, it draws context from a security practice and assesses its effect on customers’ satisfaction and patronage in retail properties.
Design/methodology/approach
The research method is quantitative. The study used a survey research design with the use of a structured questionnaire for data collection. The data were collected from the head of households who purchase items in the retail shops. It applied a logistic regression model to estimate customers’ satisfaction and the effect of the current security practice on patronage.
Findings
Contrary to expectation, descriptive analysis of data shows that respondents were satisfied with the security procedure with weighted means scores (3.62, 3.74, 3.78 and 3.66) above average for bag check at exits, reconciliation of receipts with purchase, the attitude of security personnel during exit checks and time taken during exit checks. With specific reference to bag checks at the exit, logit shows that 32% were neutral while 8% were dissatisfied with the security practice. Among the dissatisfied, logit shows an odds ratio of 0.059, which implies that they are likely to verbally express their dissatisfaction with the shop. On the other hand, the chances that they would not do this are more likely with an odds ratio of 162818201.343. Further, continuous patronage (Loyalty) is strongly less likely with an odds ratio of 1.250E-22. This was corroborated by a similar odd ratio of 4.068E-11 estimated for those that would take the exit option due to the bag’s check.
Research limitations/implications
The limitation of this study is that samples were randomly drawn from an unknown population of customers. However, the study was guided by Cochran (1963) to select a valid representative sample and support the reliability of the research findings.
Practical implications
The findings on satisfaction imply that the convenience and swiftness associated with shopping in a retail shop had been eroded by the current security facility practices which may lead to a reduction in the growth and retail sector turnover. While many dissatisfied customers would have exited if there are alternative shops with more customer-friendly security practices, the limited number of organized retail shops in the study area will prevent this from happening.
Originality/value
Literature on the management of facilities in real estate is quite vast; however, not much attention has been paid to the management of security in the retail sector particularly in Nigeria. This study is, therefore, novel, as it provides seminal evidence on this important topic and will serve as a reference for further research in Nigeria.
The purpose of this paper is to provide selected Financial Industry Regulatory Authority (FINRA) Regulatory Notices and Disciplinary Actions issued in June, July, and August 2012.
Abstract
Purpose
The purpose of this paper is to provide selected Financial Industry Regulatory Authority (FINRA) Regulatory Notices and Disciplinary Actions issued in June, July, and August 2012.
Design/methodology/approach
The paper provides FINRA Regulatory Notice 12‐29, Communications with the Public, and Notice 12‐38, Short Interest Reporting.
Findings
Notice 12‐29: the SEC has approved FINRA's proposed rule changes to adopt a new set of communication rules that become effective February 4, 2013. They address communications in three categories: institutional communication, retail communication, and correspondence. Among other things, the rules cover approval, review and recordkeeping requirements; content standards; and guidelines for public appearances. Notice 12‐38: the SEC approved amendments to FINRA Rule 4560 to codify the requirement that member firms report only “gross” short interest existing in each proprietary and customer account (rather than net positions across accounts) and clarify that member firms' short interest reports must reflect only those short interest positions that settled.
Originality/value
These FINRA notices are selected to provide a useful indication of regulatory trends.
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Syed Mahmudur Rahman, Jamie Carlson and Noman H. Chowdhury
The experience of safety as perceived by customers is a central issue in retailing, and its importance has increased because of the pandemic. Substantial literature exists…
Abstract
Purpose
The experience of safety as perceived by customers is a central issue in retailing, and its importance has increased because of the pandemic. Substantial literature exists addressing different factors related to safety/security experience in different types of retail channels. However, what is missing is a unified framework to guide safe customer experience initiatives across all channels. Therefore, this study aims to investigate the safety elements in omnichannel retailing as perceived by customers and how these safety elements affect customer experience (CX) judgments and consumer behavior in a post-pandemic context.
Design/methodology/approach
A systematic literature review on safety/security studies in a retail context is conducted, followed by a qualitative study driven by a means-end-chain laddering technique collecting data from 62 retail customers in Australia, the USA and UK.
Findings
Fourteen distinct safety elements in omnichannel retailing are identified. Four elements are relevant to the CX at the pre-purchase stage of the customer journey: social inclusiveness, role readiness, employment policy and safety policy enforcement. Six elements are relevant to the during-purchase stage: physical safety, personal hygiene, spatial distancing, fraud prevention, security surveillance and safety signal. The remaining four elements are relevant to the post-purchase stage: delivery safety, safety recall, mental health and data usage.
Originality/value
This study presents a new unified framework addressing safety and security in post-pandemic retail service settings. The SafeCX framework offers researchers and managers a holistic understanding of the distinct safety elements that shape customers’ perceptions across each customer journey stage of the retail CX.
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Michele Tonglet and Joshua Bamfield
Crime is a major problem for many retailers. Uses data from three national retail crime surveys, analyses the extent and costs of retail crime in the UK and evaluates trends in…
Abstract
Crime is a major problem for many retailers. Uses data from three national retail crime surveys, analyses the extent and costs of retail crime in the UK and evaluates trends in customer and employee theft. Finds that most surveys show that crime costs UK retailers an average of 1.0‐1.5 per cent of their sales, whilst US retailers lose in excess of 25 per cent more. Discusses the management of retail security and the major loss prevention approaches adopted by stores. Reviews security technology used in both the UK and US, store exclusions, and civil recovery programmes. Concludes that combating retail crime requires a range of integrated policies to be used.
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The purpose of this paper is to analyse how retailers view the links between security problems, investments in formal and informal surveillance, the sense of security felt among…
Abstract
Purpose
The purpose of this paper is to analyse how retailers view the links between security problems, investments in formal and informal surveillance, the sense of security felt among customers and employees, and the competitiveness of the store.
Design/methodology/approach
The study utilizes elements of the theory of Crime Prevention Through Environmental Design (CPTED) in its theoretical approach. Thus, surveillance investments are divided into formal and informal surveillance investments. The theoretical model is tested using structural equation modelling (SEM) with data collected among grocery store retailers.
Findings
The study shows that security problems have a positive impact on investments in formal surveillance but no impact on investments in informal surveillance. Furthermore, retailers perceive that formal surveillance investments have a negative impact on the sense of security felt among customers and employees, whereas informal surveillance investments have a positive impact. In addition, retail entrepreneurs perceive that the sense of security felt among customers and employees has a positive impact on the competitiveness of the store.
Research limitations/implications
The impact of investments in security should also be studied from other viewpoints than just retailers. In addition, conceptual and qualitative empirical studies are needed to obtain a clearer understanding of the effectiveness of surveillance in the store environment.
Practical implications
The paper shows retailers the linkages between different types of surveillance investments and the sense of security felt among consumers and retail employees.
Originality/value
The present research provides empirical evidence on how investments in security are linked to the competitiveness of retail stores.
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A self‐report questionnaire was used to discover key shrinkage, theft and loss prevention data from 476 major European retailers (23 per cent of West Europe's retail turnover) in…
Abstract
A self‐report questionnaire was used to discover key shrinkage, theft and loss prevention data from 476 major European retailers (23 per cent of West Europe's retail turnover) in 16 countries for the financial year 2001‐2002. The response rate was 33 per cent. Shrinkage rates were found to vary considerably between countries with a weighted average of 1.45 per cent (1.42 per cent in 2000/2001), equivalent to €30,310 million (or $27,582 million). A total of 18.3 per cent of shrinkage was perceived to be caused by “internal error” rather than crime and this estimate is deducted from shrinkage to derive the crime figure. Retail crime cost retailers €30,407 million ($27,670 million). In contrast to US data, customer theft was seen as the most important crime cost, followed by employee theft, security costs and supplier theft. Stores apprehended more than 1.2 million thieves in 2001/2002, but passed only 25.7 per cent to the police.
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This study aims to focus on how grocery store retail entrepreneurs invest in formal and informal surveillance, and how these investments affect consumers' and employees' sense of…
Abstract
Purpose
This study aims to focus on how grocery store retail entrepreneurs invest in formal and informal surveillance, and how these investments affect consumers' and employees' sense of security. In particular, it tries to understand what kind of surveillance investments can be found from the stores with high consumer and employees' sense of security.
Design/methodology/approach
The present study utilizes elements of CPTED in its theoretical approach. The population for the study consisted of 946 grocery store K‐retailers. The data collection was carried out through an internet survey in February and March of 2009. A total of 161 grocery store retailers filled in the questionnaire, yielding a response rate of 17 percent.
Findings
The research reveals that investments in informal surveillance are more likely to create a high sense of security among consumers and employees than are investments in formal surveillance. In other words, the analysis shows that the stores where consumers and employees have a high sense of security have made more investments in comfortable, clean and well‐lit premises than stores where consumers and employees have a low sense of security.
Research limitations/implications
The present study was limited to surveillance and to consumers' and employees' sense of security as understood by the retailers. Unquestionably, there is a need to study surveillance from the consumers' and employees' viewpoints. In addition, qualitative studies would enable more thorough operationalization of the concepts that linked the surveillance and sense of security in the store context.
Practical implications
Retailers wishing to create a safe retail space for employees and customers should invest in informal surveillance. Investments in comfortable, well‐cleaned and well‐lighted premises make both consumers and employees feel safe in the store environment. In this way, retailers can enhance the competitiveness of their store.
Originality/value
Very little empirical research has evaluated the effectiveness of surveillance in the store environment, although many articles and reports have commented on the importance of surveillance. The present study fills this research gap.
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Mike Pretious, Robert Stewart and David Logan
Outlines preliminary results from a survey into retail securitymethods employed by retailers in central Dundee, and forms part ofongoing research into retail crime in this city…
Abstract
Outlines preliminary results from a survey into retail security methods employed by retailers in central Dundee, and forms part of ongoing research into retail crime in this city being undertaken on a joint basis by the University of Abertay Dundee, and Tayside Police. Considers it to be the first survey of this type undertaken at such a local level in the UK. Concentrates on the types of physical and procedural security method employed, their perceived effectiveness from a managerial viewpoint, and which of the alternative security methods retail managers would utilize if they were given a free choice by their employers.
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Retailers and suppliers are facing the challenge of reconfiguring systems to accommodate increasingly mobile customers expecting multichannel options supporting quick and secure…
Abstract
Purpose
Retailers and suppliers are facing the challenge of reconfiguring systems to accommodate increasingly mobile customers expecting multichannel options supporting quick and secure digital payment. The purpose of this paper is to harness the learning from the implementation of self-checkout and combines it with available information relating to mobile scanning and mobile point-of-sale (MPOS).
Design/methodology/approach
In review of the literature, the paper provides an overview of different modes of mobile payment systems, and a consideration of some of the benefits that they offer to retailers and their customers. The main focus, drawing upon telephone interviews with retail security professionals in Australia and New Zealand, is on anticipating and mitigating against the potential risks, vulnerabilities and impact on shrinkage.
Findings
With the market being flooded with software and products, retailers are exposed to a compelling case for mobile payment, but it was found that they are not as cognisant of the potential risks.
Research limitations/implications
Further research is needed on the different permutations of mobile POS and how it impacts on the customer journey and rates of internal and external theft.
Practical implications
Suggestions for future empirical research on the risks and vulnerabilities that moving to mobile payment can usher in are provided.
Originality/value
The paper links research from diverse fields, in particular criminology, to elucidate the potential impact of mobile technologies on retail theft and internal technological and process issues, before offering possible solutions.
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A key question for shopping malls is to create a retail environment that is at the same time safe and entertaining. The purpose of this paper is to provide insight into this…
Abstract
Purpose
A key question for shopping malls is to create a retail environment that is at the same time safe and entertaining. The purpose of this paper is to provide insight into this process by examining how consumers view various formal and informal surveillance practices in the context of shopping malls. The classification of surveillance practices into formal and informal surveillance is based on crime prevention through environmental design (CPTED) theory. The paper also studies how consumers can be grouped according to their views on these surveillance practices.
Design/methodology/approach
The paper uses the CPTED theory as a theoretical lens and studies the consumers’ views of formal and informal surveillance using data gathered from a survey of 200 shopping mall visitors. The data are analyzed using principal components analysis and cluster analysis.
Findings
The results show that customer experience of safe retail environments reflects the distinction between informal and formal surveillance in the CPTED theory. The paper also shows that consumers have several different preferences towards surveillance practices and consumers can be grouped according to their preferences for surveillance methods.
Originality/value
This paper has provided new insights regarding the use of CPTED theory in research into formal and informal surveillance practices in shopping malls. The findings provide tools that help mall managers focus on the different needs of consumers in their quest to create safe and entertaining retail environment.
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