Buying Rs. 10/- Wafer Packet thinking inside eatable stock is good enough to cover half the trip from CST Railway Station to Wadala Railway Station (Full trip is from CST Railway Station to Vashi Railway Station) and moment you open the Packet, you get Fresh AIR to make mood happy and then if anything is left to eat, we eat. Buyer buy Packet to cover half the trip from CST Railway Station to Wadala Railway Station (Full trip is from CST Railway Station to Vashi Railway Station) and moment it is opened is survives CST Railway Station and end at Masjid Bunder Railway Station making the person to drink full bottle of water to ensure AIR comes out which was given to eat by such Manufacturers of food packets.
All from 1990’s know that Lifebuoy Soap used to come in Red packet and size was awesome and huge and coming to Year 2021, packet is RED, size is playing the game with us to find which earlier size was and price remains the same. Rs. 10/- has become the benchmark MRP for soap and their size instead of being showing any kind of stability is helping us to learn Depreciation in using products. Thank god they are using simple interest method of depreciation else if compound interest method is used, they may sell the smell and cover only.
Rs. 10/- Dairy Milk was premium to eat and they have been also selling Rs. 5/- but now Rs. 5/- is Rs. 10/- and with much smaller size and infact they are the most shrinking size dealing company. I hope they will atleast allow one tooth to eat Rs. 10/- chocolate. Same is the case of Choco Bar, Rs. 5/- size became Rs. 10/- and Rs. 10/- became Rs. 20/-.
We have all witness this and if readers have missed my above examples, then for them the best example will be of MUNCH and or PERK. When they were released in market it was huge in size and price was Rs. 5/- and Rs. 10/- and since that day there is only decrease, more decrease, decrease rectangle size, etc and the game is going on but price is same. Well, consumers are buying with no unhappiness so goods are being sold freely. Has anyone managed to find that in cream biscuits, creams are just getting thin and thin and thin and infact “Bounce cream biscuits” uses so small sizeable quantity of cream in their biscuits that they shall be rename themselves as “Bounce find-cream biscuits”
This practice is called as “Shrinkflation” in Business Economy.
Shrinkflation occurs when companies reduce the size or quantity of a good and keep prices the same. Shrinkflation is an alternative to increasing prices, and you could argue it is a disguised form of inflation because if you wanted to buy exactly the same quantity of the good, you would have to spend relatively more.
Shrinkflation is almost the norm these days, but consumers are beginning to find it irritating. It is true that they are not doing anything illegal but they are aware that hardly the public while purchase the branded avoid seeing the Weight and volume information and hence they have been successfully doing this. Habits make us believe we are purchasing the same thing as we zoom in on the one constant that motivates our behaviour when shopping. So legally there is no wrong unless you find that weight and value information is something else and real size is else which you will find not easily.
Question is whether Shrinkflation is legally correct as this takes the advantage of consumers who believe in their brand as Companies never advertise their list of Shrinkflation products and thereby breaking the trust of the consumer and hence it can be said as misrepresentation or breach of trust. How fair is this for the companies to sell the product with no price change but shrinking without any information or disclaimer information or advertisement as this is purely a case of ethical misleading. The reduction is sufficiently small as not to be immediately obvious to regular consumers. An unchanged price means that consumers are not alerted to the higher unit price. According to one professor of business management, they should if necessary be legally obliged to notify shoppers when pack sizes have been reduced.
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