by Anthony Scaramucci, Investment Advisor, Inc.
With the mind of a criminal being able to temporarily freeze your brain in two opposite, tactical places, retailers are more inclined to put money into security and related systems rather than risk their customers’ financial well-being.
The pernicious trend that has become apparent on a relative basis to the broader business environment is that robberies of retailers have become more brazen. In some cases, the perpetrators try to conceal their identity by disguising themselves with either bandanas or other facial coverings.
In many cases, they have their own pets. All of these measures might obfuscate the victim, but they fail to mitigate the fact that the criminal is attempting to make an evil, impulsive decision to rob someone.
For store owners, having a brave and competent store general manager present during an attempted robbery is worth more than any monetary investment. As armed robbers face off against highly trained security personnel equipped with precision weapons, the direction of the struggle is determined by the willingness of the victim to take the action desired by the armed robber. This shows the value of a competent and experienced general manager, one who can deal with the provocation in any situation that might result in a robbery.
Equally important, some store managers have access to telephone systems, internet connection and video surveillance systems that are not only highly coveted but an invaluable asset to the security of a business. These are assets that have been over-estimated by a retailer without regard to the security risks to the store or its customer/consumer base.
Some retailers, though clearly in financial difficulty, are spending a fortune on hardware and software that are purchased off-the-shelf from companies that have obviously not done the utmost to detail their designs and manufacturing process.
In my opinion, a store manager, being privy to countless details of the items being purchased, can easily differentiate which ones were created by companies that are more intent on vanity than anything else, hence this avenue of retailing.
This strategy by some retailers is one that retailers will have to deal with on a continual basis as long as the industry remains the valuable enterprise that it has been, and the retail bust continues.