Shrinkage By Heidi Chugg What is SHRINK What
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 Health meat and cheese 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? 60 50 40 30 20 % of Loss 10 $ Lost (billions) ud do r Ve n in is tra tiv e Er Fr a ro r g tin Sh op lif Ad m Em pl oy ee Th e ft 0
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 http: //www. fibre 2 fashion. com/industry- article/7/652/retail-shrinkage 1. asp http: //globalretailtheftbarometer. com/pdf/GRTB 2011 -summary. pdf http: //specialtyretail. com/issue/2008/10/running-acart-orkiosk/strategies_to_prevent_shoplifting_and_retail _theft/ http: //www. shopliftingprevention. org/whatnaspoffe rs/nrc. htm
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