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Podcast: Making It in The Toy Industry
Episode: #124: The Effect Of Skimpflation and Shrinkflation On Toy Creators
Description: All across the globe we are seeing a massive increase in prices and reduction in quality. In fact it’s so prevalent, it has a few nicknames. Shrinkflation and Skimpflation are two practices of reducing the quality of goods and services to maintain margin, and reducing the actual contents of goods and quality of services while increasing the cost. Customers have noticed the change in gas prices, groceries and now even our toys. If you are a new entrepreneur, inventor, or toy maker you may think that Shrinkflation doesn’t affect you, but you’d be wrong my friend, it cer...