27 9 The Most Effective Retail Shrinkage Reduction Technologies English Edition. 279 The Most Effective Retail Shrinkage Reduction Technologies eBook. Sep 27 2019 Updated September 27 2019.
While that may not sound like a lot consider that shrinkage cost retailers more than 506 billion in losses in 2018. Of course some retail companies are able to sustain low levels of retail shrinkage over a long period of time. There are four main causes of shrinkage.
Although the use of technology has proven effective at reducing theft it comes with a cost attached which is usually in the form of capital budget dollarsa limited resource for most loss.
Over the past three years the ECR Europe Shrinkage Group has developed a new approach to tackling the problem of stock loss based upon genuine inter-company collaboration throughout the supply chain. Retailers should also use store layout adequate inventory controls and follow common security practices to combat shoplifting. Understanding how shrinkage happens in retail stores is the first step in reducing and preventing it. Although the use of technology has proven effective at reducing theft it comes with a cost attached which is usually in the form of capital budget dollarsa limited resource for most loss.