Tag: shrinkage

Retailers are increasingly turning to AI and machine learning to combat rising shrinkage, as traditional loss prevention methods struggle to keep pace with the growing scale and complexity of retail crime.

This article focuses on fundamental influences that can be managed regarding shrink, and common characteristics of a high shrink store.

Review the results from a recent LPM LinkedIn poll where we asked retail professionals about the most common causes of shrinkage in their stores!

External theft, internal theft, and operational errors are made worse by poor hiring practices and high employee turnover. Learn more in this article.

When it comes to retail theft, the industry—and the media—tend to focus on more prominent brands with more stores and revenue that are accountable to shareholders. But shrink from theft significantly impacts small-to medium-sized (SMB) retailers, which operate on narrower margins.

Understanding how to calculate shrinkage in retail is important. However, understanding why it is important to control these results and how we can impact company profitability by both improving sales and controlling retail shrinkage is the key to success.

Shrink isn’t a cause—it’s an effect. It’s an outcome that goes well beyond the concept of bad guys stealing from our stores. Taking action to build awareness and understanding is essential to the success of your business. Here are some common characteristics in high-shrink stores.

What we say, how we say it, and what we’re doing when we say it combine to create great messages—or messages that are forgotten...

Understanding how to calculate shrinkage in retail is important. However, understanding why it is important to control these results and how we can impact company profitability by both improving sales and controlling retail shrinkage is the key to success.

Since its introduction in 2016, the Total Retail Loss concept has received critical acclaim across the globe, stimulated debate about what constitutes retail “loss,” and discussion about what the future role of the LP function might be. New research addressed how it has been implemented, its effectiveness, and what changes to the theory are required.