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Shrinkage in retail that is caused by employee actions typically occurs at the point of sale (POS) terminal. [citation needed] There are different ways to manipulate a POS system, such as a cashier giving customers unauthorized discounts, creating fraudulent returns, or simply removing cash from the register.
Shrink is caused by operational errors, internal theft, and external theft. Retail loss prevention is responsible for identifying these causes and following up with training, preventing, investigating, responding to and resolving them. According to the 2018 Federal National Retail Security Survey, the average Shrink % for US Retailers is 1.33%. [3]
Retail theft, or "shrink," as business executives put it, has run wild. In waves of earnings calls , references to shrink resemble the retail industry's upside-down version of mentioning AI.
The trend of shrink appears to be far from reversing course, with losses more than doubling over the past five years. Why retail’s $100 billion ‘shrink’ crisis may not be all about ...
This sometimes does not affect inflation measures such as the consumer price index or Retail Price Index, i.e. it might not increase in the cost of a basket of retail goods and services, [citation needed] but many indicators of price levels and thus inflation are linked to units of volume or weight of products, so that shrinkflation also ...
"Shrink," or retail theft, is a billion-dollar problem for the retail industry. And unlike the popular culture image of a teen shoplifter looking for a rush, the real culprit is often organized ...
In the retail industry, the word shrinkage (or shrink) is used to refer to merchandise often lost by shoplifting. The term five-finger discount is an euphemism for shoplifting, humorously referencing stolen items taken "at no cost" with the five fingers. The first documented shoplifting started to take place in 16th century London. By the early ...
"Shrinkflation" — when companies charge the same for smaller sizes — is a sneaky way to raise prices. Read on to see what kind of products have shrunk the most.