Word: retail
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Dates: during 2000-2009
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...People already feeling, or merely anticipating, the negative impact of recession have taken to stealing ... at the very time retailers also suffering from the downturn have had to cut back on security staff," says Joshua Bamfield, director of the Britain-based Center for Retail Research, which documented the findings in its annual Global Retail Theft Barometer. "In addition to the usual criminals, you have lots of newcomers to stealing who figure they don't run much risk at getting caught, won't pay much of a price if they are and justify their action on the hard times...
...researchers found that shoplifting - or what's euphemistically known as product "shrinkage" - jumped 5.9% in the past year at the more than 1,000 retail chains the group surveyed globally. In previous years, the increase hovered at 1.5% annually. Though the problem was documented across all regions, the steepest increases occurred in North America (8.1%), the Middle East (7.5%) and Europe (4.7%). In terms of total losses, retailers in North America topped the charts at $46 billion, followed by Europe's $44 billion and $17.9 billion in the Asia-Pacific region. In North America and Latin America, store owners...
...worked at Target for a while. What things were you surprised to learn about big box retail? What I found most useful was the [employee] orientation. I was very impressed with the degree of ethical training: sexual harassment, how to approach and communicate with disabled customers, what to do in a sticky situation, how to act during a robbery. But you don't get trained in product details. So, if someone comes in and wants to know why one product is better than another, you're really not trained in that...
...households to boost the profitability of producers, China's ability to grow consumption in line with growth of the nation's GDP is severely hampered," says Michael Pettis, a finance professor at Peking University's Guanghua School of Management. Indeed, although China is also subsidizing some consumer purchases and retail sales in China were up about 15% in the first nine months of 2009, consumption as a percentage of GDP remains today about where it was a year ago: at about a third of China's economy...
...hometown of West Windsor, N.J. Unless President Obama reinstates the draft tomorrow, my family’s day-to-day existence won’t change because of his relatively remote decisions. However, West Windsor Mayor Shing-Fu Hsueh’s decision about the creation of a retail area around our town train station will directly influence day-to-day life in the place I go back to every Thanksgiving, Christmas, and summer...