shrinkflation
/ˈʃrɪŋkˌfleɪʃən/the practice of reducing the size or quantity of a product while keeping the price unchanged, often as a way to avoid raising prices due to inflation
Consumers noticed shrinkflation when their favorite chocolate bars became thinner but cost the same.
People realized the chocolate bars were smaller but still priced the same.
This term combines 'shrink' (reducing size) and 'inflation' (rising prices). It is commonly used in discussions about consumer goods and pricing strategies.
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💡Pro Tip
Recognizing Shrinkflation
Pay attention to product sizes and weights when shopping. Compare past purchases to current ones to identify shrinkflation.
⚡Gold Rule
Business Use
Companies may use shrinkflation to avoid customer backlash from price increases while still adjusting to rising costs.
📖Word Origin
A portmanteau of 'shrink' and 'inflation', coined in the late 20th century to describe a business practice of reducing product size while maintaining prices.
📝Usage Notes
Shrinkflation is often used in economic and business contexts to describe how companies adjust to rising costs without explicitly raising prices. It is considered a form of hidden inflation.