In consumer psychology, the term shrinkage refers to ____.
A)the tendency for consumers to devalue products once they own them
B)the tendency for consumers to overanalyse, and over-justify, their purchases
C)the tendency for consumers to devalue products that they consider but don't end up buying
D)a company's loss of money or inventory as a result of shoplifting or employee theft

Question

Quizplus · Accepted Answer

Shrinkage in consumer psychology refers to a company's loss of money or inventory as a result of shoplifting or employee theft. This term is commonly used in the retail industry to measure the difference between a store's actual inventory and the amount of inventory that should be on hand based on sales records. Shrinkage can have a significant impact on a company's profitability, and retailers often implement measures to prevent or reduce it.

In Consumer Psychology, the Term Shrinkage Refers to ____