What do you think about a consumer goods manufacturer that reduces the size of their products, but charges the same price or a higher price? As a result of this trend a new buzzword has been coined—no doubt by an MBA—shrinkflation.
What do you think about a professional service provider that increases their rates by 25%? (Have you received a 25% raise lately?)
The response you often hear is the “costs are rising” litany. Which begs the question, how can costs rise in a slow growth, low inflation environment?
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