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 the destruction of profit margins through the loss of stock…
According to the ‘Retail Security in Europe, Going beyond Shrinkage’ report, UK retailers lose almost £11bn annually in shrinkage – the highest of any country
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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