Have you ever bought a bag of candy and opened it to realize that there isn't really much in there? Mhmm. And you could swear there was more candy in these bags a few years ago. This could be because of something called shrinkflation. Shrinkflation is when a product gets smaller or has less content, but its price stays the same. You might notice it more in food or drink products. Shrinkflation can happen when the cost of making a product rises . For example, when raw materials become more expensive or when companies have to pay their workers more. So when the cost of making the product rises, the price of the product usually goes up too. But companies fear that customers might not buy their stuff anymore if it gets too expensive. So instead of boosting prices, they do something that's less obvious . They make the product smaller or use less of it. This way, companies can still make money even when the cost of making the product goes up.
Vocabulary:
• Shrinkflation : (noun) When a product gets smaller or has less content, but its price stays the same.
• Raw materials : (noun) Basic materials used to make a product.
• Boosting : Increasing or raising.
• Engage : To participate or involve oneself in something.
• Margins : The profit margins, which are the difference between the cost of producing a product and its selling price.
• Phenomenon : An observable occurrence or event that is noteworthy or unusual in some way.
• Content : The amount or quantity of something, such as the content of a product.
• Obvious : Something that is obvious is easily perceived or understood
• Unavailable : Something not accessible or not obtainable at the moment.
• Stability : The state of being stable, steady, or unchanging over time.