Noun

1. The amount or proportion of something that is wasted or lost by deterioration

   The average wastage is 1.5% in the grocery department.

2. Anything lost by wear or waste
3. Goods that are damaged, out of date, reduced, or generally unsaleable, which are destined to be thrown away and which are written off as a loss
4. In hunting, the act of abandoning animal carcasses or parts; usually illegal