Shrinkflation
"Shrinkflation" is a term used to describe a situation where a product's size or quantity is reduced while its price remains the same or increases. This phenomenon often goes unnoticed by consumers, as it can be a subtle change.
Companies might use shrinkflation as a strategy to offset rising production costs or inflation without explicitly raising prices. This way, consumers may not immediately realize that they are getting less value for the same price. It's a common tactic in various industries, especially in food and consumer goods.
Another Word for Shrinkflation
Another term often used interchangeably with "shrinkflation" is "hidden inflation." This term emphasizes the aspect of inflation being concealed within the same or higher pricing, despite a reduction in the quantity or size of the product.