noun a portmanteau of 'shrink' and 'inflation', referring to the practice of reducing the size or quantity of a product while maintaining its price
Shrinkflation is a term used in economics to describe the practice of reducing the size or quantity of a product while keeping its price the same, effectively raising the price per unit.
Marketers may use shrinkflation as a strategy to maintain profit margins without raising prices visibly, but they must be cautious of potential backlash from consumers.
Shrinkflation can impact consumer behavior by leading to feelings of deception or dissatisfaction when they realize they are getting less product for the same price.
Shrinkflation often involves changes in product packaging to disguise the reduction in quantity, which can affect the perception of value among consumers.
Writers may use the term 'shrinkflation' in articles or blog posts discussing how companies reduce the size or quantity of a product while maintaining its price.
Psychologists may use the concept of 'shrinkflation' to explain consumer behavior and reactions to changes in product sizes or quantities.
Economists may analyze the impact of 'shrinkflation' on inflation rates and consumer purchasing power.
Marketing specialists may consider 'shrinkflation' as a strategy to maintain profit margins without raising prices visibly.