Security does not appear to have risen up the business agenda in consumer staples, despite multiple headlines on retail crime in recent years around the globe, G4S reported.
More than eight in ten (83%) security chiefs in the sector agree that physical security should have a higher strategic priority within their business.
Similarly, only 29% of companies say they have a generally well-adopted security culture (34% global average).
In stark contrast, the number of security chiefs in consumer discretionary who agree they have a well-adopted security culture is nearly double at 46% – 12 percentage points higher than the global average.
Rachelle Loyear, Vice President, Integrated Security Solutions at Allied Universal commented: “In an industry where employees are the eyes and ears on the floor, this cultural buy-in is one of the most effective deterrents against organised crime.”
Physical security spend
Further differences between the two sectors emerge: consumer discretionary (31%) is spending far less on physical security (eg barriers, surveillance, access control) than consumer staples and the global average (both 43%).
Both sectors do agree the primary driver for the adoption of new technology is enhancing security for customers and visitors.
The cutting-edge technology most crucial to operations in consumer discretionary over the next two years is Internet of Things (IoT)-enabled security devices and sensors.
In consumer staples, AI-powered intrusion detection and perimeter security is.
“A combination of covert and overt methods”
Loyear continued: “This suggests the sector is moving away from the ‘fortress’ mentality of recent years.
“We are seeing a shift to ‘invisible security’ — using AI and smart sensors to catch bad actors without making honest shoppers feel like they are in a high-security zone.”
“The best way to tackle retail crime is through a combination of covert and overt methods using people and technology. Security officers act as a deterrent but also, crucially, are a reassuring presence for staff.”
Economic instability
Nearly half of security chiefs in consumer discretionary (48%) expect economic instability to be the top security impacting hazard this year – a staggering 21 percentage-point increase on last year.
Security chiefs in consumer staples are slightly less worried about this hazard at 42%.
World Security Report
These are key findings from the World Security Report, commissioned by Allied Universal, a security and facility services provider, and its international business, G4S.
2,352 chief security officers (CSOs) in 31 countries at medium and large, global companies with total revenue exceeding $25 trillion took part in the research.
187 CSOs from the consumer staples sector and 152 from consumer discretionary were surveyed respectively.
