Companies are cutting corners on product size or limiting services to preserve margins as their costs rise.
Read the full article on the Financial Times website (PayWall)
NAM Implications:
- As any brand person knows, ‘Shrinkflation’ represents a breach of hard-won faith with your best consumer.
- i.e. the consumer that knows your brand to the nearest Oz/Gm.
- And while the ‘Pack Copy’ may keep you within the letter-of-the-law…
- …consumers base their purchasing on the spirit-of-the-law…
- …and often resort to ‘telling a friend/s’ of their disappointment.
- Reminder of ‘Tell a friend’:
- Please me and I tell one friend
- Disappoint me and 10 friends will hear of my displeasure
- Add social media to multiply these by 100, or even 1,000!
