Soaring Prices Trigger The Return of "Shrinkflation"

The video discusses inflation as a significant economic challenge, highlighting its global impact and the strategies companies use to cope, such as shrinkflation and skimpflation. Shrinkflation involves reducing product sizes while maintaining prices, a practice dating back to the 1970s. Skimpflation refers to reduced service quality without lowering prices, affecting customer satisfaction. The video emphasizes the ongoing nature of inflation and its effects on consumer purchasing power.

What changes have hospitality businesses made in response to economic pressures?

What trend has been observed in perceived quality of goods and services since 2018?