Crypto News: Innovation or 'upflation'?

Tuesday, July 2, 2024

Innovation or 'upflation'?

Old Spice GentleMan's Total Body Deodorant spray. Photographer: Lucia Buricelli/Bloomberg

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First came tinier tins, downsized detergents and slimmed-down snacks in a less-bang-for-your-buck trend known as 'shrinkflation.' Now, companies seeking to guard revenue and claw back sales are confronting consumers with a fresh tactic: 'Upflation.'

The formula: Create new applications for products—especially those hit by declining sales—and jack up the price. Some examples may include so-called whole-body deodorants selling for $14 a pop, or intimate razors specifically for "tricky areas" with a $5 markup on a regular shave. Companies insist they're solving real problems, but not all shoppers are convinced: "Is this really something new or are they just marketing this as something different?," said Maia James, who runs a product review site.

Read The Big Take.

Listen to the podcast

It's not just personal care products—food companies are also upflating. On the Big Take podcast, consumer goods reporter Leslie Patton discusses how to spot the trend in the wild, and how to avoid paying extra for everyday products.

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