skimpflation

Definitions

The practice of reducing the quality of products while continuing to market them at the same price.

informal, neologism, uncountable

Examples

“We propose⟳ a new word to describe⟳ this stealth-ninja kind of inflation: skimpflation. It's when, instead of simply raising prices, companies skimp on the goods and services they provide⟳.”

“Some economists have⟳ pegged a new word to this phenomenon where, rather than raise⟳ prices, companies cut⟳ services previously provided: skimpflation. Skimpflation could mean⟳ reduced staff, thus longer lines or phone hold⟳ times.”

“Companies face⟳ an appalling dilemma, said Laith Al-Khalaf in The Sunday Times – pass⟳ on increased costs to consumers “and risk⟳ losing them to rivals”, or “absorb the hit”. No wonder⟳ many are opting for a third path: “skimpflation”. The trick⟳ is to erode “the quality of their goods” – say⟳, by “menu engineering” to focus⟳ on cheaper foods – in the hope⟳ that “hoodwinked” consumers either don't notice⟳ or don't care.”

“Sadly it's a sign⟳ of the times, and consumers will have⟳ to get⟳ used to this practice of skimpflation, where brands reduce⟳ the value of their services to remain⟳ profitable.”

“"This is now called Skimpflation, which means a manufacturer has reformulated one of its products, usually with cheaper ingredients," says Dworsky, a former Massachusetts Assistant Attorney General in consumer protection.”

“How To Be A Savvy Shopper Amidst Skimpflation […] And while it might require⟳ a little more time and energy in the aisles, there are ways to prevent⟳ your diet from suffering amidst inflation.”

CEFR level