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Managing your retail risk

Being in the retail game is a challenge at the best of times. Sadly, we are not living in the best of times with an economic recession at the door and few people having any kind of idea when it may be over.

Add to that the formal and informal influx of people into major areas expected next year with the FIFA Soccer World Cup and we have an environment ripe for criminal exploitation. The reality is, retailers will be at the centre of the chaos as they have what criminals want: cash, ATMs, valuable goods like cigarettes and cellphones, and, of course, lots of lovely victims.

Are retailers ready for the payment card syndicates as they swoop on the 2010 influx? Do they know what to expect during the games? How will the FIFA rules affect business? Will they be able to operate on game days if they are close to a stadium?

To prepare for 2010 as well as the never-ending criminal onslaught, retailers need to boost their business acumen with the latest information on securing their operations. The best security solution is made up of a combination of people, technology and processes, and is not necessarily the most expensive solution out there. By the same token, expect nothing but hassles if you insist on buying the cheapest products from your cousin who knows about security because he once read a bit of a book.

To answer these questions and more, Technews Publishing, the publisher of Hi-Tech Security Solutions, in cooperation with the Consumer Goods Council is hosting the second annual RetailRisk conference in May. RetailRisk 2009 will offer invaluable insight into securing retail operations cost effectively, demonstrating how retailers can use their security infrastructure to boost profits while reducing losses due to shrinkage in all its forms.

The presentations will offer thought leadership, technology and case studies to guide retailers through the vendor hype and find solutions that work, meaning solutions that measurably cut costs and/or increase profits. RetailRisk 2009 will also be a great networking opportunity where attendees can meet with peers, competitors and the best brains in the business.

RetailRisk 2009 will be held in Cape Town on 21 May and in Johannesburg on 28 May. More information is available at www.retailrisk.co.za.

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