STRATEGIC MARKETING OR A HIDDEN INFLATION TOWARDS CONSUMERS: AN EXPLANATORY STUDY ON THE SHRINKFLATION

Abstract: As we are in the era of global marketing, the competition among various companies has become more intense. Marketers now use a variety of techniques to seize the best opportunities in the industry and ensure their long-term success. One of the marketing techniques that companies employ to boost earnings in a market that is getting more and more competitive and to offset rising manufacturing costs is shrinkflation. The price and quality haven't changed, despite the product being somewhat smaller. In this study, the researcher tried to figure out, conformity regarding shrinkflation strategy, Consumers who are already stretched thin by inflation continue to buy independent of their awareness of it or willingness to pay for it. This is because their consumption patterns and attitudes vary greatly depending on their social background, consumer knowledge, and urban or rural lifestyle Given the gap in existing packaging and consumer protection laws, additional laws requiring manufacturers to indicate fill levels or to announce downsizing could increase consumer attention to size changes and improve consumer welfare