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ShrinkageBy Heidi Chugg
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What is SHRINK?
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What is retail SHRINK?
Employee theft Shoplifting Administrative errors Vendor fraud
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What is being stolen?
Apparel: accessories and outerwear
Grocery: Fresh meat and cheese
Health and Beauty: shaving products perfume/fragrance
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Where are people stealing?
Countries with the highest shrink rate: India Russia Morocco
Countries with the lowest shrink rate: Japan Hong Kong Taiwan
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Who is stealing from you?
Empl
oyee
The
ft
Shop
liftin
g
Adm
inistra
tive
Erro
r
Vend
or F
raud
0
10
20
30
40
50
60
% of Loss$ Lost (billions)
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Preventing employee theft make a positive working environment implement internal controls hire honest people educate employees create an anonymous reporting system investigate every incident
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Preventing shoplifting
customer service use recovery statements watch for signs of shoplifters
they avoid eye contact wander around the store wander in and out of the store several times appear nervous are often rude and say they don’t want help
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Why do people steal?
one third of people steal because of depression
most people don’t steal because they are poor
people steal to make up for another loss in their life
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How does shrink affect you?
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Sources used
http://www.fibre2fashion.com/industry-article/7/652/retail-shrinkage1.asp
http://globalretailtheftbarometer.com/pdf/GRTB-2011-summary.pdf
http://specialtyretail.com/issue/2008/10/running-a-cart-or-kiosk/strategies_to_prevent_shoplifting_and_retail_theft/
http://www.shopliftingprevention.org/whatnaspoffers/nrc.htm