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In the retail industry, the word shrinkage (or shrink) is used to refer to merchandise often lost by shoplifting. The term five-finger discount is an euphemism for shoplifting, humorously referencing stolen items taken "at no cost" with the five fingers. The first documented shoplifting started to take place in 16th century London. By the early ...
Retail loss prevention (also known as retail asset protection) is a set of practices employed by retail companies to preserve profit. [1] Loss prevention is mainly found within the retail sector but also can be found within other business environments. Retail loss prevention is geared towards the elimination of preventable loss. [2]
“Retail theft” means the taking possession of or carrying away of merchandise, property, money, or negotiable documents; altering or removing a label, universal product code, or price tag ...
Return fraud is the act of defrauding a retail store by means of the return process.There are various ways in which this crime is committed. For example, the offender may return stolen merchandise to secure cash, steal receipts or receipt tape to enable a falsified return, or use somebody else's receipt to try to return an item picked up from a store shelf.
Shrink can be the result of theft, damage, or poor record keeping, among other factors. In its second quarter report, Target's 28.9% gross profit margin beat estimates, up from 27% a year ago.
The National Retail Federation estimates that retailers lost $40.5 billion to external theft, including organized retail crime, in 2022. That represented about 36% of total inventory losses ...
In the retail industry, sweethearting is a form of theft by employees at the cash register, where they give away merchandise to a "sweetheart" customer (such as a friend, family member or fellow employee). Cashiers are able to do this in numerous ways, including: [1] Scan avoidance; Price overrides; Refund fraud, gift card fraud; Void fraud ...
Some lawmakers have tied Proposition 47 to an increase in retail theft. Several have authored unsuccessful bills to repeal or change the law, in some cases lowering the felony theft threshold to $400.