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What is Shrinkage in retail ?

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Danielle
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Shrinkage in retail refers to the difference between the amount of stock that you have on paper and the actual stock you have available for sale.

In other words, it's a reduction in inventory caused by employee theft, shop lifting, administrative errors, supply errors and supplier fraud.

You can prevent shrinkage by increasing security in your store. Monitor customers, employees, vendors, suppliers for suspicious behaviour.

Also, have accountability policies in place to reduce human error, and do regular inventory checks, especially when it comes to high-theft items.

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