‘Shrinkflation’ is becoming more common - but, what is it?
Update: 2024-11-10
Description
Ever feel like you’re getting less bang for your buck at the supermarket? Well you might be right.
As production costs rise, many companies have been resorting to what’s called ‘Shrinkflation’. Rather than raising the cost to the consumer, they make the product smaller while charging the same price.
According to a Global Inflation Monitor survey in 2023, 46% of consumers said that they have noticed shrinkflation, with 55% of kiwi consumers noticing the tactic and the same amount stating the practice was an unacceptable response to rising costs.
Today on The Front Page, we’re joined by Massey University marketing professor, Bodo Lang to discuss the ethics behind shrinkflation.
See omnystudio.com/listener for privacy information.
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