shrinkage Definition
the process of becoming or the amount by which something becomes smaller in size or amount.
Using shrinkage: Examples
Take a moment to familiarize yourself with how "shrinkage" can be used in various situations through the following examples!
Example
The shrinkage of the ice caps is a major concern for climate scientists.
Example
The company experienced significant shrinkage in profits this quarter.
Example
The shrinkage of the wool sweater was irreversible after it was washed in hot water.
shrinkage Synonyms and Antonyms
Synonyms for shrinkage
Phrases with shrinkage
the loss of inventory that occurs due to theft, damage, or errors in record-keeping
Example
The store manager implemented new security measures to prevent inventory shrinkage.
a condition where the brain volume decreases, often associated with aging or neurological disorders
Example
Studies have shown that excessive alcohol consumption can lead to brain shrinkage.
a percentage of the total cost of a construction project that is set aside to account for potential losses due to shrinkage or other factors
Example
The contractor included a 5% shrinkage allowance in the budget for the new building project.
Summary: shrinkage in Brief
The term 'shrinkage' [ˈʃrɪŋkɪdʒ] refers to the process of becoming or the amount by which something becomes smaller in size or amount. It can be used to describe physical objects, such as the shrinkage of the ice caps, or financial concepts, such as the shrinkage of profits. 'Shrinkage' also appears in phrases like 'inventory shrinkage,' referring to the loss of inventory due to theft or damage, and 'brain shrinkage,' a condition associated with aging or neurological disorders.
