Shoplifting

Excerpt:

In 2022, according to the survey, “shrink” — an industry term for inventory losses from theft, damage, or administrative errors — was 1.57% of total retail sales, up from 1.44% in 2021. This means that an average of $1.57 in inventory was lost for every $100 in sales. The shrink rate in 2022, the NRF reports, is the same as it was in 2020 and 2019. Over the last seven years, shrink has oscillated between 1.3% and 1.6%. Experts note that “the share is largely in line with past years and is considered a normal and healthy level of shrink.” In addition, “when retail sales go up, as they did in 2022, shrink also tends to rise,” the Los Angeles Times reports. Retailers, according to the New York Times, are more likely to talk about shrink “during times of economic distress…when their profits are already being squeezed.”