Time to do something
Shrinkage is a big problem in stores. The average shrinkage in the retail industry is about 2 % of sales. The main reasons for shrinkage are employee theft, shoplifting, supplier fraud and losses due to administrative non-crime factors. Shoplifting and employee theft are the largest parts of the retail loss and was as much as 77% of all the retail shrinkage worldwide in 2015.
There are several loss prevention systems on the market for preventing shoplifting and thieves. Stores that utilise security technologies have lower inventory shrinkage than those retailers who do not. Many retailers use various products that help decrease the thefts. Some of these loss prevention products can also increase inventory control and decrease costs associated with restocking.