Shrinkage By Heidi Chugg What is SHRINK? What is retail SHRINK?  Employee theft  Shoplifting  Administrative errors  Vendor fraud.

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Presentation transcript:

Shrinkage By Heidi Chugg

What is SHRINK?

What is retail SHRINK?  Employee theft  Shoplifting  Administrative errors  Vendor fraud

What is being stolen?  Apparel:  accessories and outerwear  Grocery:  Fresh meat and cheese  Health and Beauty:  shaving products  perfume/fragrance

Where are people stealing?  Countries with the highest shrink rate:  India  Russia  Morocco  Countries with the lowest shrink rate:  Japan  Hong Kong  Taiwan

Who is stealing from you?

Preventing employee theft  make a positive working environment  implement internal controls  hire honest people  educate employees  create an anonymous reporting system  investigate every incident

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

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

How does shrink affect you?

Sources used  article/7/652/retail-shrinkage1.asp article/7/652/retail-shrinkage1.asp  RTB-2011-summary.pdf RTB-2011-summary.pdf  ng-a-cart-or- kiosk/strategies_to_prevent_shoplifting_and_re tail_theft/ ng-a-cart-or- kiosk/strategies_to_prevent_shoplifting_and_re tail_theft/  spoffers/nrc.htm