One of the biggest economic consequences of the coronavirus pandemic is the exceptionally high increase in unemployment, which due to a combination of business closures and cutbacks, is set to rise to 2.6 million by mid-2021.
The UK is reported to have the highest level of shrinkage in Europe.
Retail shrinkage is described as anything that attributes an unwanted loss of inventory, including breakage, wastage, theft, admin error and vendor fraud.
Shrinkage is a part of every retail company’s reality and the largest impact of shrinkage is profits loss…
Shrinkage in supermarket stores is a major issue for many retailers, in 2019 alone, UK retail shrinkage accounted for almost £5.5 billion worth of goods.
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