shrinkage

/ˈʃrɪŋkɪdʒ/ noun [U]

Definition

› the process or amount by which something becomes smaller or less: Conservatives are not happy about the private sector's shrinkage and the public sector's expansion.shrinkage in sth A permanent shrinkage in supplies would severely damage today's oil-based economy.shrinkage of sth He expects employment to grow by 1.9% this year compared to a shrinkage of 0.4% last year.sales/deficit/brand shrinkage Two years of double-digit sales shrinkage have hurt the industry.

› COMMERCE the loss of goods for sale because of damage, stealing, etc.: The retailer's stores lose about $1m a week from shrinkage. inventory/stock shrinkage

(Definition of shrinkage noun from the Cambridge Business English Dictionary © Cambridge University Press)