Well according to a recent report the North American shopping families were affected by an average of $422.68 during the past year. Shrink is a term used to describe retail theft. There are many types of shrink including shoplifting, organized retail crime and employee theft. These thefts force retails to increase security measures on loss prevention which increases their spending, and raising cost for consumers. The most popular items for of shrink were cosmetics including perfumes, beauty supplies and pharmacy, auto parts, hardware, clothing and accessories. The full report can be found here:
The only shrink situation that I can think of for my family is when my children we much younger and used to sit in the front of the shopping cart. To help keep them occupied during shopping we would give them items to play with. We once walked out without paying for an item they had in their hand. Part of my wife’s training at her supermarket job was about loss prevention. Her single store that she works at typically loses between $10-20k per month on shrink. Ouch!
Have you ever experience shrink? How would you handle if you witnessed someone committing shrink?