Definition of shrinkage
1
: the act or process of shrinking
2a
: the loss in weight of livestock during shipment and in the process of preparing the meat for consumption
b
: the loss of goods especially by theft
inventory shrinkage
3
: the amount lost by shrinkage
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Merriam-Webster unabridged
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Time Traveler for shrinkage
The first known use of shrinkage was in 1800
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