What is shrinkflation?
Shrinkflation combines the words ‘shrink’ and ‘inflation.’ Introduced in 2009 by British economist Pippa Malmgren, this term describes companies that quietly keep or reduce the size of a product while increasing its prices. However, it wasn’t until 2022 that the term became popular on the internet. In fact, a 2024 LendingTree survey found that 71% of consumers have noticed shrinkflation, with 66% saying they have stopped purchasing those products.
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