More for less, or less for more?
A May 17th Reuter’s article headline reads, "Where's the beef? McDonald's, Wendy's are sued over burger sizes." Apparently, consumers notice that the size of the hamburgers in these companies' advertisements is not an accurate representation of their product's actual size. According to experts, the companies use partially cooked burgers in their ads because doing so makes them look more appetizing (and bigger) than their fully cooked version.
But are burgers the only product in which reality doesn’t match expectation – or past experience?
The Office for National Statistics reports that "the size of product has shrunk for 2,529 consumer items over the past five years." Everything from toilette paper and coffee to candy bars is notably smaller. However, they are still being sold for the same price as their larger earlier versions. And this was before the pandemic.
Joining Procurement Insights' Jon Hansen will be a panel of industry thought leaders who will delve into the significant impact that shrinkflation has on procurement's perceived value proposition and what we need to do to address it in the following four areas:
- Testing Tolerance
- Reversing Moore’s Law
Join us for this thought-provoking, action-provoking panel discussion!