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Shrinkage

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.

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Shrinkage

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  1. Shrinkage By Heidi Chugg

  2. What is SHRINK?

  3. What is retail SHRINK? • Employee theft • Shoplifting • Administrative errors • Vendor fraud

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

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

  6. Who is stealing from you?

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

  8. 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

  9. 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

  10. How does shrink affect you?

  11. 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

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