Companies that invest in fraud prevention tend to spend 42% less money on fraud response.

Shrinkage is something that all retailers face. Even the most seasoned business owners will encounter shoplifting, employee theft, and inventory loss for reasons out of their control. In fact, according to the National Retail Federation (NRF), shoplifting and external theft make up 36.5% of shrink, while employee and internal theft make up 30%. Theft aside, 6.8% of shrinkage is reported as unknown, further proving that inventory loss can happen without a solid explanation. While completely eliminating shrinkage is impossible, there are steps you can take to minimize employee theft and shoplifting. In this guide, we’ll cover everything you need to do to prevent theft — and keep your money in your business.