Shrinkflation and Skimpflation: Know the Difference
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Questions and Answers

What is shrinkflation?

  • When companies reduce the quality of a product while keeping the price the same.
  • When companies reduce the size or quantity of a product while keeping the price the same. (correct)
  • When companies increase the size of a product while reducing the price.
  • When companies change the shape of a product to make it more appealing.

    • How is skimpflation different from shrinkflation?

  • Skimpflation involves reducing the size of a product while increasing the price.
  • Shrinkflation involves reducing the quality of a product while keeping the price the same. (correct)
  • Skimpflation involves increasing the quality of a product while lowering the price.
  • Shrinkflation involves increasing the size of a product while lowering the price.

    • Why do companies engage in shrinkflation?

  • To reduce the size or quantity of a product while keeping the price the same. (correct)
  • To increase the quality of the product.
  • To decrease the price of the product.
  • To reduce included services in the product.

    • Which strategy involves including more air in a package to hide changes from consumers?

    <p>Shrinkflation</p> Signup and view all the answers

    What might a hotel do if it is practicing skimpflation?

    <p>Reduce included services like housekeeping.</p> Signup and view all the answers

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