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. Commerce. loss of merchandise through breakage, pilferage, shoplifting, etc.
Shrinkage is the amount by which something becomes smaller or less.
the process, fact, or amount of shrinking.
"give long curtains good hems to allow for shrinkage"
an allowance made for reduction in the earnings of a business due to wastage or theft.