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Retail theft (Read 695 times)
Carmine_Difazio
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Re: Retail theft
Reply #30 - 06/29/07 at 9:37am
 
Hello Venson:
 
The Court's decision is bad for internet retailers.
 
Carmine D.
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Carmine_Difazio
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Re: Retail theft
Reply #31 - 06/29/07 at 11:19am
 
Venson:
 
I believe high end merchandise sold through big box retailers will be hardest hit by the Supreme Court ruling.  The low to middle range priced items are just fine.  Why?  Makers of everyday consumer goods could find it very diffcult to flex their new pricing muscle with powerful retailers like Wal*Mart or Target for fear of losing business.  Just as Wal*Mart bargains hard for what it pays for merchandise, it will be able to bargain with manufacturers to keep its discounts.  
 
If the minimum "floor" amounts on the expensive brands don't get buyers to buy their products (which is the case in point before the Supreme Court--expensive brand name women's leather goods) and sales stall, what do retailers do to sell?  Traditionally, retailers lower prices and increase profits through volume sales.  
 
If the retailers can't lower the prices below the minimum floor amounts, even in times when the sales of high-end goods are lackluster and inventories are building up and unsold, what options do the retailers have?  Discontinue the high-end merchandise and/or sell competitors' items which are less expensive.  What does this do for brand makers of the high-end merchandise that doesn't sell?  It forces these brand makers to lower the minimum "floor" amounts with retailers if they want to compete with the other brands.  A good thing for consumers.  [Economics and Macroeconomics 101: Supply, demand and price theory.]
 
Ironically, the ruling came the same day that the Commerce Department reported much lower durable goods spending (capital spending for big ticket items that last 7-10 years) for May 2007 and the 2nd quarter.  No doubt a result in part of the subprime mortgage lending debacle and the housing market decline.
 
Judge Breyer is a brilliant Justice and often has sided with business interests.  But he dissented along with Justices Stevens, Souter, and Ginsburg.   I think they got this one wrong even though I hate to go along with the conservatives on the court.  
 
If the retail prices do go up in the short term [as Justice Breyer predicts they will], it will be very short-lived.  Why? Market equilibrium prevails in the long run especially for prices of autos, electronics, books, toiletries and towels.  Buyers and sellers are the ultimate determination of reasonable market prices for goods [and sevices].  You have to have a willing buyer and a willing seller.  And the way it's done is through competitive pricing.
 
Carmine D.
 
  
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« Last Edit: 06/30/07 at 10:10am by Carmine_Difazio »  
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guess_who
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Re: Retail theft
Reply #32 - 07/06/07 at 9:01pm
 
Back to retail theft . . .
 
I've just seen a first -- at least for me.  An eBay seller has placed an auction post for a Simplicity Synergy upright AND has listed its serial number in big bold print.  
 
Venson
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Carmine_Difazio
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Re: Retail theft
Reply #33 - 07/06/07 at 10:31pm
 
The August 2007 Consumer Reports features an article on eBay scams, do's and don't hints, and a couple of Web Sites to report unethical eBay practices.
 
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Carmine_Difazio
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Re: Retail theft
Reply #34 - 07/14/07 at 1:00pm
 
Wal*Mart revised and instituted new rules and regulations for catching and prosecuting persons caught stealing store merchandise (shoplifters).  The policies went into effect Monday July 9.
 
In general, I understand it lowered the age limit for prosecution from 18 years to 16 and the amount is no longer $25 or above.  But any dollar amount regardless.  Why?  To clamp down on young thieves who may get an impulse and opportunity to steal a DVD and/or compact disk.
 
New store policies allow Wal*Mart employees not just to detain "thieves" and "shoplifters" but to "deter" and apprehend them.  Even before they go through the cashier line and leave the store.  Even if they appear to be 12 years old and younger with items less than $25.
 
Wal*Mart has reduced the time allowed for parents to respond to telephone calls about their children if they are caught stealing.  If parents do not appear at the store in 60 minutes after being called, Wal*Mart calls the police and prosecutes, even first time offenders.  Formerly the policy was 90 minutes.
 
Interesting.  Why?  Wal*Mart is not just targeting gangs and thugs who may want to steal [organized theft rings].  But also the lone teenage shoplifter who sees and opportunity for shoplifting and acts on impulse (i.e. makes a bad choice0.  Wal*Mart says "shrinkage" (the retail term for shoplifting and fraud cost retailers $41.6 BILLION in 2006 according to Joseph LaRocca VP of loss prevention at the National Retail Federation) is "bleeding its profits" and reducd profit margins during its first quarter.
 
Wal*Mart reported June retail sales for same stores open one year or more of 2.4 percent.  A healthy gain and exceeding street expectations predicting a luckluster ONE percent.  Wal*Mart attributes the good profit news to lowering and cutting prices [it's old Roll Back marketing strategy].  And says it will continue to do more.
 
Carmine D.
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« Last Edit: 07/15/07 at 4:54am by Carmine_Difazio »  
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