• Tech News
    • Games
    • Pc & Laptop
    • Mobile Tech
    • Ar & Vr
    • Security
  • Startup
    • Fintech
  • Reviews
  • How To
What's Hot

Elementor #32036

January 24, 2025

The Redmi Note 13 is a bigger downgrade compared to the 5G model than you might think

April 18, 2024

Xiaomi Redmi Watch 4 is a budget smartwatch with a premium look and feel

April 16, 2024
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Facebook Twitter Instagram Pinterest VKontakte
Behind The ScreenBehind The Screen
  • Tech News
    1. Games
    2. Pc & Laptop
    3. Mobile Tech
    4. Ar & Vr
    5. Security
    6. View All

    Bring Elden Ring to the table with the upcoming board game adaptation

    September 19, 2022

    ONI: Road to be the Mightiest Oni reveals its opening movie

    September 19, 2022

    GTA 6 images and footage allegedly leak

    September 19, 2022

    Wild west adventure Card Cowboy turns cards into weird and silly stories

    September 18, 2022

    7 Reasons Why You Should Study PHP Programming Language

    October 19, 2022

    Logitech MX Master 3S and MX Keys Combo for Business Gen 2 Review

    October 9, 2022

    Lenovo ThinkPad X1 Carbon Gen10 Review

    September 18, 2022

    Lenovo IdeaPad 5i Chromebook, 16-inch+120Hz

    September 3, 2022

    It’s 2023 and Spotify Still Can’t Say When AirPlay 2 Support Will Arrive

    April 4, 2023

    YouTube adds very convenient iPhone homescreen widgets

    October 15, 2022

    Google finishes iOS 16 Lock Screen widgets rollout w/ Maps

    October 14, 2022

    Is Apple actually turning iMessage into AIM or is this sketchy redesign rumor for laughs?

    October 14, 2022

    MeetKai launches AI-powered metaverse, starting with a billboard in Times Square

    August 10, 2022

    The DeanBeat: RP1 simulates putting 4,000 people together in a single metaverse plaza

    August 10, 2022

    Improving the customer experience with virtual and augmented reality

    August 10, 2022

    Why the metaverse won’t fall to Clubhouse’s fate

    August 10, 2022

    How Apple privacy changes have forced social media marketing to evolve

    October 16, 2022

    Microsoft Patch Tuesday October Fixed 85 Vulnerabilities – Latest Hacking News

    October 16, 2022

    Decentralization and KYC compliance: Critical concepts in sovereign policy

    October 15, 2022

    What Thoma Bravo’s latest acquisition reveals about identity management

    October 14, 2022

    What is a Service Robot? The vision of an intelligent service application is possible.

    November 7, 2022

    Tom Brady just chucked another Microsoft Surface tablet

    September 18, 2022

    The best AIO coolers for your PC in 2022

    September 18, 2022

    YC’s Michael Seibel clarifies some misconceptions about the accelerator • DailyTech

    September 18, 2022
  • Startup
    • Fintech
  • Reviews
  • How To
Behind The ScreenBehind The Screen
Home»Startup»How To Navigate The ‘Shrinkflation’ Economy While Protecting Quality And Brand Promise
Startup

How To Navigate The ‘Shrinkflation’ Economy While Protecting Quality And Brand Promise

September 18, 2023No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
How To Navigate The ‘Shrinkflation’ Economy While Protecting Quality And Brand Promise
Share
Facebook Twitter LinkedIn Pinterest Email

Online shopping concept

getty

You’ve seen the headlines and felt the pressures of the realities of a post-pandemic economy. As businesses flex their creative muscles to return profit margins to their former glory, many are looking at product size. While shrinking sizes can be a cost-efficient and timely switch with fast results, it also draws immediate customer impact. There are better ways to navigate this economy while protecting quality and brand promise.

1. Review Sales Data to Discover Efficiency Opportunities

Let data be your guide as you explore opportunities for greater efficiency. Take a broad look at the total data set for your sales patterns to establish a baseline. Then, drill down to more recent segments where you may better project current buying behavior.

If you have loyalty programs where you can assess individual customers’ buying habits, extract buying frequency and product size data. Isolate buying patterns against product size to see what’s most preferred and when. Doing so can reveal otherwise missed opportunities, like the ability to reduce a product option.

For example, imagine you’re selling tea in 20-count boxes, but your most popular options are available in a 40-count box. Customers may enjoy not having to buy boxes as frequently, but at what cost to your business? The manufacturing costs, labeling changes, and shelf space may be costing you more than you think.

Store data may also reveal that the best sales and coupons are applied to the 20-count boxes. By eliminating the larger quantity item, you can boost manufacturing efficiency without sacrificing quantity or quality.

2. Break Down the Product Lifecycle to Determine How Much Size Matters

Don’t close that spreadsheet just yet; there’s more insight to uncover from your customers’ buying habits. After looking at buying frequency to explore product range, it’s time to dig into individual product sizing.

The term ‘shrinkflation,’ when a product size changes but the price remains the same, can be seen everywhere. The amount of cans in a seltzer water case goes from 12 to eight. The ounces in a bottle go from 16 to 12. However, not all product sizes shrink with the same customer impact. Sometimes, product size changes are welcomed in certain categories.

In the fast food industry, it’s widely understood that sizes have moved beyond super, reaching even mega size. As customers consider how they want to buy and enjoy such items, many are intentionally buying smaller. Whether it’s a health preference or a budget move, it’s a change worth noticing.

Launch a post-purchase survey, isolating those buying smaller sizes to a subset of questions. If the data indicates that they’d prefer more modest sizing, stress-test this change in sample markets before converting completely. By responding to customer preferences in size, you can maintain quality and price and delight customers at the same time.

3. Rethink How You Fulfill Products in a New Economy

Shrinking sizes often track back to the journey your product must make after manufacturing. Shipping weight matters and small changes in individual package sizes can present attractive opportunities for brands. Before you shrink, rethink and retool your product fulfillment process to ensure you’re at your most efficient.

Examine your shipping process at every level. Identify the cost per shipment, taking into account surcharges for fuel, timing, and parcel sizes. Product weight is one of the immediate benefits of changing product sizes, but changes like better route planning can be cost-saving too.

Upgrade your direct-to-consumer experience to make direct sales efficient and enjoyable. Explore subscription options, a strategy that benefits you and the consumer. If you’re selling bath and body care for the whole family, offer subscriptions supporting the demands of your busy customers.

A subscription creates sales consistency and shipping planning opportunities, which can help determine manufacturing needs. For your customer, a subscription eliminates a to-do list item and often results in savings on products and shipping. Keep in mind your warehousing relationship will be integral to this strategy, which can ensure subscriptions are fulfilled and expectations are met.

Preserve Product Quality and Customer Loyalty

As you navigate today’s economic pressures, shipping landscape, and customer expectations, let quality be your north star. Preserve the features and benefits of your product with a vengeance, ruthlessly protecting what your customers have come to expect.

If product changes are needed, go above and beyond on service and training to ensure your customers are well taken care of. Monitor and address customer feedback through whatever changes unfold, taking action and updating processes in response. By prioritizing the customer experience throughout change, you can improve your initiative’s effectiveness while preserving trust, loyalty, and brand legacy.

Source link

See also  A well-crafted rejection email will save both your brand and your time
Brand economy navigate promise Protecting quality Shrinkflation
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Multiple Milestones As New Majority Capital Boosts Entrepreneurship Through Acquisition

September 26, 2023

Getty Images Plunges Into the Generative AI Pool

September 26, 2023

3 Hot Startup Opportunities In Augmented Reality

September 26, 2023

The ChatGPT App Can Now Talk to You—and Look Into Your Life

September 25, 2023
Add A Comment

Comments are closed.

Editors Picks

Oppo Reno 8 review

December 8, 2022

Space real estate game Space for Sale announced

August 14, 2022

Former Chef CEO joins Buildkite board; Salesforce hires Code.org exec – Startup

March 25, 2023

AMD Ryzen 5 7600X and Ryzen 7 7700X Cinebench R23 scores leaked

August 26, 2022

Subscribe to Updates

Get the latest news and Updates from Behind The Scene about Tech, Startup and more.

Top Post

Elementor #32036

The Redmi Note 13 is a bigger downgrade compared to the 5G model than you might think

Xiaomi Redmi Watch 4 is a budget smartwatch with a premium look and feel

Behind The Screen
Facebook Twitter Instagram Pinterest Vimeo YouTube
  • Contact
  • Privacy Policy
  • Terms & Conditions
© 2025 behindthescreen.uk - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.