Want to make more money this year? Or at least protect your profits? Consider shrinkflation. You may have heard of this — or maybe not. But shrinkflation is a powerful pricing strategy that you should consider in these times of higher costs that are cutting into your margins.
So, what is shrinkflation? It’s when you charge the same price for something that you’ve always charged, but this time, you deliver just a little bit less. If that sounds unethical or immoral, it’s not. In fact, it’s being practiced all over the place by some of the world’s largest brands.