What is shrinkflation, the sneaky tactic manufacturers are hiding from consumers?
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Show Notes
Marketing technique shrinkflation is becoming more and more common in large retail stores, in particular down to the ongoing war in Ukraine. It sees manufacturers quietly reducing the size of their products, but maintaining prices at the same level. Shrinkflation is often a result of an increase in raw material prices and other production costs, but is seen as a form of hidden inflation and has been heavily criticised in many places. In the context of the current cost of living crisis, it’s definitely a sensitive subject. According to Merriam Webster, the portmanteau term was coined by British economist Pippa Malmgren in a tweet back in 2015.
Do you have any specific examples? Is shrinkflation illegal? As a consumer, how can I avoid falling victim to shrinkflation? In under 3 minutes, we answer your questions !
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A podcast written and realised by Joseph Chance.
First broadcast : 30/6/2022
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