7.7 C
Tuesday, February 27, 2024
HomeSharpie, Costco, Honda: New Survey Reveals Most Shrink-flation Resistant Brands

Sharpie, Costco, Honda: New Survey Reveals Most Shrink-flation Resistant Brands


Related stories

Kazakhstan Targets Fintech to Boost Revenue and Curb Tax Evasion

After Kurmet, a hairdresser in Kazakhstan’s business capital, Almaty, finished a cut earlier this month, the customer reached for his phone to pay. This has been a standard scene for years. Kazakhs young and old have embraced banking apps with a passio...

What Happens When The VIX Spikes, But Traders Aren’t “Actually” Worried?

What Happens When The VIX Spikes, But Traders Aren't "Actually" Worried? SpotGamma invites readers to please join them tonight at 8pm EST for a free webinar on the VIX and the coming March option expiration, to learn how the fear gauge ac...

The CIA Was Preparing Ukraine to Fight Russia for the Last Ten Years

A bombshell report released by the New York Times revealed that the United States and its CIA have created twelve secret state-of-the-art spy centers in Ukraine The post The CIA Was Preparing Ukraine to Fight Russia for the Last Ten Years first appeare...

“I’m Done With Google”: Wholesale Loss Of Trust After “Unbelievably Irresponsible” Racist AI Goes Mask-Off

"I'm Done With Google": Wholesale Loss Of Trust After "Unbelievably Irresponsible" Racist AI Goes Mask-Off The fact that Google's Gemini AI is a complete woke mess comes as no surprise to anyone who's been paying attention. Between Goog...

“Absurdly Woke” Gemini AI Causes $90 Billion Google Stock Selloff

Google parent company Alphabet lost $90 billion in market valuation after its Gemini AI chatbot and image generator defended pedophilia and Adolph Hitler. The post “Absurdly Woke” Gemini AI Causes $90 Billion Google Stock Selloff first appeared on Valu...
Sharpie, Costco, Honda: New Survey Reveals Most Shrink-flation Resistant Brands

Shrinkflation is an economic phenomenon where the size or quantity of a product is reduced by manufacturers while the price remains the same, effectively increasing the price per unit without an apparent increase in the sticker price.

And as the fight against inflation in the U.S. continues to be center stage - with consumers getting more and more agitated with higher prices - manufacturers are doing anything they can to try and keep prices steady. This includes offering less product for the same price. 

USA Today looked at this in a new report wherein they asked customers which brands they trusted the most to swindle them out of their purchasing power the least. In November 2023, the report "surveyed 1,251 American consumers ages 18 to 58, asking about their experiences buying products from more than 100 high-profile brands."

Here are the top brands that the survey revealed as having the fairest pricing.

Top 15 of USA Today's Top 25 List

Gina Lazaro, Sharpie’s vice president of brand management said: “At Sharpie, we take great pride in offering innovative and affordable products that provide our customers with a superior writing experience and help them channel their inner creativity. Sharpie has been producing quality, cost-effective writing instruments for nearly 60 years, and we are committed to providing these products at a reasonable price.”

Among other findings, the USA Today report revealed:

  • Top reasons Americans pay high prices despite being unhappy about it are:
    • 1. Quality of product
    • 2. Urgent situation or no patience to price shop
    • 3. No other options.
  • 43% of those polled get angry about pricing on at least a weekly basis.
  • #1 reason consumers get angry about pricing is they remember a product being a lower price.
  • 58% of consumers rarely or never think price increases are fair.
  • Americans voted for Sharpie as the fairest brand followed by Anker, Honda, Toyota, Dove and Rubbermaid.
  • When it comes to big retailers, consumers say Costco has the fairest prices.

Sean Snaith, director of the University of Central Florida’s Institute for Economic Forecasting, told USA Today: “I think that quality and consistency for these companies' products goes a long way to explaining how consumers feel about these companies.”

He continued: “Less expensive substitutes may be available, but if the performance of the product is materially worse, this will adversely affect consumer sentiment toward the company.”

Snaith continued: “Inflation will diminish the perception of a fair deal as the consumer can recall lower prices, and higher interest rates also raise payments for purchases that are financed."

He said: “In Florida, housing purchases have become increasingly unaffordable as rising prices the past two years are now accompanied by higher mortgage rates. Even so, transplants from other higher cost states may still view Florida’s housing market as a bargain even as longer-term residents feel the opposite.”

Broadly speaking, consumer perceptions of value vary by product category and shopping venue.

Electronics and home appliances were deemed most fairly priced by approximately 72% of respondents, slightly higher than apparel (68%) and automotive (67%).

Costco emerged as the top retailer for fair pricing, with 93% of shoppers acknowledging its value for bulk and private-label goods. Online giants Amazon and Walmart, both with an 88% approval for fair pricing, outperform most physical stores, partly due to their competitive pricing strategies, such as Walmart's Walmart+ program. The COVID-19 pandemic further shifted consumer expectations towards speedy delivery and low-cost goods, underscoring changes in shopping habits according to a 2021 MediaRadar survey.

Tyler Durden Mon, 02/12/2024 - 05:45


- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories


Please enter your comment!
Please enter your name here