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     Lost inventory

     • Rather, shrink is the retail industry’s term for lost inventory — items that left a store or warehouse without being paid for. The merchandise might have been stolen or damaged, or the company might have lost track of it because of poor stock-keeping practices.
     www.nytimes.com › interactive › 2023/06/02

     What’s Behind All This ‘Shrink’? - The New York Times

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   What is retail shrink?

   • Let’s start by defining terms. Some people think of retail shrink or shrinkage as synonymous with theft and shoplifting. But “shrink” is a much broader term, right? Define retail shrink for us: What does it encompass? And how do retailers measure it? Bill Mutell: Theft is, as you mentioned, one part of shrink.

   The art and science of reducing retail shrink | McKinsey

   www.mckinsey.com/industries/retail/our-insights/the-art-and-science-of-reducing-retail-shrink

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   How much shrinkage should a retail store have?

   • And while some shrinkage is unavoidable, retailers typically want to have a total shrink percentage of less than one percent. The first step in reducing overall retail shrinkage is to identify the different types.

   Five Types of Retail Shrinkage and How to Prevent Them

   www.loomis.us/resources/insights/five-types-of-retail-shrinkage-how-to-prevent-them

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   How can retail shrinkage be reduced?

   • The first step in reducing overall retail shrinkage is to identify the different types. Below are five types of shrinkage commonly found in stores: 1. Shoplifting or theft In 2020, shoplifting increased by 13 percent and is typically the largest contributor to retail shrinkage.

   Five Types of Retail Shrinkage and How to Prevent Them

   www.loomis.us/resources/insights/five-types-of-retail-shrinkage-how-to-prevent-them

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   Is shrink a problem for retailers to solve?

   • On this episode of the McKinsey on Consumer and Retail podcast, hosted by Monica Toriello, two retail experts discuss shrink—not just as a problem for retailers to solve, but as an opportunity to improve both the bottom line and customer experience. The following is an edited transcript of the conversation. Subscribe to the podcast.

   The art and science of reducing retail shrink | McKinsey

   www.mckinsey.com/industries/retail/our-insights/the-art-and-science-of-reducing-retail-shrink

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3. www.nytimes.com › what-is-retail-shrinkWhat’s Behind All This ‘Shrink’? - The New York Times

   www.nytimes.com › what-is-retail-shrink

   Jun 2, 2023 · Shrink is the retail industry’s term for inventory lost to theft or other factors. But it's sometimes used as an excuse for poor business performance, some argue.

4. www.mckinsey.com › industries › retailThe art and science of reducing retail shrink | McKinsey

   www.mckinsey.com › industries › retail

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   Dec 19, 2023 · The battle against retail shrink requires a data-informed, collaborative, store-by-store approach. We look at how how retailers can make this happen.

5. www.businessinsider.com › what-is-retail-shrinkWhat Is Retail Shrink? - Business Insider

   www.businessinsider.com › what-is-retail-shrink

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   Nov 21, 2023 · Discover the meaning behind retail shrink. This definition refers to the loss of products at retail stores from employee theft, shoplifting, spoilage, and more.

   • Author: Alex Bitter

6. www.retaildive.com › news › retail-shrink-problem7 reasons why everyone’s confused about shrink and theft

   www.retaildive.com › news › retail-shrink-problem

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   Jan 24, 2024 · While the bulk of shrink is internal, industry groups and individual retailers have maintained a spotlight on outside theft, and law enforcement and politicians are under pressure to respond to...

   • Author: Daphne Howland

7. koronapos.com › blog › what-is-shrink-in-retail-howWhat is Shrink in Retail & How to Prevent Shrinkage

   koronapos.com › blog › what-is-shrink-in-retail-how

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   Jun 19, 2024 · In retail, the term “shrink,” or “shrinkage,” refers to the loss of inventory or revenue due to theft, fraud, damage, errors, or other causes. These factors result in a discrepancy between the recorded and actual inventory on hand.

8. www.loomis.us › resources › insightsFive Types of Retail Shrinkage and How to Prevent Them

   www.loomis.us › resources › insights

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   The first step in reducing overall retail shrinkage is to identify the different types. Below are five types of shrinkage commonly found in stores: 1. Shoplifting or theft. In 2020, shoplifting increased by 13 percent and is typically the largest contributor to retail shrinkage.

9. www.eposnow.com › what-is-shrink-in-retailWhat is Shrink (Shrinkage) in Retail? - Epos Now

   www.eposnow.com › what-is-shrink-in-retail

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   Aug 25, 2021 · In this guide, we explore all there is to know about shrink in retail: shrinkage definition, shrink examples and causes, the effects of shrinkage, how to calculate shrink, loss prevention measures.