shrinkage: Meaning and Definition of

shrink•age

1. the act or fact of shrinking.
2. the amount or degree of shrinking.
3. reduction or depreciation in quantity, value, etc.
4. contraction of a fabric in finishing or washing.
5. the difference between the original weight of livestock and that after it has been prepared for marketing.
6. loss of merchandise through breakage, pilferage, shoplifting, etc.