Retail Loss Prevention Group News

Battling the $36 billion U.S. problem of retail shrinkage losses

Employees are the front line of defence — as well as the most economical defence — against shrinkage losses The financial cost of retail shrinkage is huge. The latest Annual Shrink Report issued by Dr. Richard Hollinger and Dr. Read Hayes at the University of Florida puts the total at $36 billion annually. Shrinkage has several causes: customers shoplifting , employee theft, supplier fraud and administrative errors. Frequent inventories and accounting audits coun...