Sizable Shrink

Pre-Covid, shrink (a fancy word for retail store theft) was about $50 billion/year and 1.4% of retail sales. In 2021, shrink rose to $94 billion but declined to 1.4% of retail sales with less in-person shopping. Since then, it’s steadily risen. In 2022, it was $112 billion and 1.6% of sales, and in 2023 shrink totaled $142 billion and 2% of sales, the highest percentage since at least 2015.