Summary
Shrinkflation is when companies reduce the size or quantity of products while keeping prices the same or raising them. This means people get less for their money, even if they don't realize it right away. It affects everyday items like groceries and household products.
Key Facts
- Shrinkflation happens when product sizes decrease but prices don't.
- Companies use shrinkflation to avoid price hikes looking too obvious.
- Shoppers may not notice shrinkflation immediately.
- Shrinkflation can affect items such as food and personal care products.
- It is a response by companies to manage rising production costs.
- Customers end up paying the same or more for less product.
- This trend puts financial pressure on families who buy these items regularly.
