The art and science of reducing retail shrink

This podcast episode provides a comprehensive overview of retail shrink, its causes, and effective solutions. Experts in the field discuss the importance of a clear definition and measurement of shrink, which encompasses not only theft but also factors like waste and spoilage. The podcast explores the shift in shrink composition, with external theft now accounting for a higher percentage than internal theft. Innovative technologies are also highlighted, alongside the need for a cross-functional approach to shrink management, involving departments like finance, merchandising, operations, and logistics. By understanding the dynamics of shrink and implementing effective strategies, retailers can mitigate its impact on their bottom lines and enhance the customer experience.