Is this greed or inflation?

[GiftedMAN]

To be honest,it's really unfair,I understand how you feel ,prices of goods keep increasing while their is  reduction in there products,it happens to me ,I went to get my body lotion, because whenever I'm getting it ,I make sure I always get two so it's going to be for  a while before buying again, just few weeks ago,the price has skyrocketed to ×2 of what I used to buy it ,and when I checked inside it was just half of it ,they have reduced the quantity badly,I was so disappointed .

Our government is the reason why some manufacturing companies are cheating the consumers badly, they do not monitor them to know the prices at which they sell and they no longer have control over them because of the high taxes they pay. If the government is ready to tackle the rate if increase in prices at least they would have made the provision for the agency that would be in charge of price control and monitor what the companies sell to people. If they have to increase the prices then it should not be too much and the quality should be improved also.

[Decimetre]

Shrinkflation has been standard practice by greedy merchants and/or businesses. They reduce portion sizes or the quality of an item, while increasing their prices. What's worse is that governments are allowing this to happen. The ones who end up suffering are none other than average people like you and me. The Elite will remain unaffected.

I agree with you that currently, all the companies in the world are increasing the prices of their products in a disproportionate manner and reducing the quality of the products. This is done by the companies to make more profits; the companies take such policies to gain additional profits.
Nowadays, it is very difficult to find such companies where they give the right price or the right product. They only see the company's profit but on the contrary, the common consumer is harmed.

I believe it's inflation as well as being driven by companies trying to maintain or boost profit margins, as in shrinkflation. When raw material, labour, transport, and energy expenses are increased, companies may either have to increase their product prices, or they have to decrease the size. What's really scaring people is when companies claim to be charging more because of inflation, but they're really charging a lot more. Ultimately, consumers face not only higher costs, but reduced quality as well, and businesses are concerned with maintaining their margins.

The real threat is not inflation or increasing the price of the commodity, just like the OP mentioned. The real threat is quality reduction because that's where it affects human life. We're talking about people taking the life of consumers for granted. If they can only reduce the size of the product or only increasing the price of the product, go on to do the three, reducing the size, reducing the quality of the product and still increasing the price which is pure robbery. Government has to take more drastic measures in checkmating the activities of these companies.

This act of product reduction has gone way beyond foodstuffs. Adulteration of electrical appliances have set several homes ablaze and ruined lives. I hope government will start taking it seriously against those of them caught.

[Negotiation]

I believe it's inflation as well as being driven by companies trying to maintain or boost profit margins, as in shrinkflation. When raw material, labour, transport, and energy expenses are increased, companies may either have to increase their product prices, or they have to decrease the size. What's really scaring people is when companies claim to be charging more because of inflation, but they're really charging a lot more. Ultimately, consumers face not only higher costs, but reduced quality as well, and businesses are concerned with maintaining their margins.

I agree with you, but not completely because inflation is a common phenomenon. It happens when a country has financial imbalances or is based on the content. What we are discussing here is that companies increase the prices of every product slightly during these periods in November-December and June-July. For all these reasons, it is seen that the general consumers who are affected are mainly due to an aggressive attitude of the companies.

[Zigabel]

Now my question is, why can these industries not increase the price of goods and maintain the quality? why is there an increase in price and then still the quality is being reduced. I have noticed this across so many other product in my countries market, not just this yogurt drink. 

I know that this will not be so if my country has a good quality control unit, but even without that, why can these industries not act right and maintain quality, is reducing the quality of product while increasing the price not directly affecting their business?

Beyond quality control is other factors that affects these products and their quality, and before you get me wrong, I'm not supporting the drop in quality, neither I'm i encouraging or supporting a hike in price with a complementary drop in quality, but we just need to look at some other factors that surrounds production now and from then. Currently there may be a different kind of demand along side inflation and the cost of production now may not be as same as before, so these products gets affected, because with that which they have available now, they may not be able to achieve the same quality at that cost of production and maintain a fair price, they may even want to state that if they maintain the former quality, prices of the goods will be way too expensive than it is now that it will not be considered affordable and so they produce a lower quality and keep it at a price they consider fair to production and consumption.

Although that which i have mentioned isn't a justifiable reason to lower quality and possibly risk the lives of consumers, but this is the reality at some production firms, but then if the economy gets better with good intervention by the government, maybe it could get better than it is in quality and prices maybe.

[Smack That Ace]

Shrinkflation has been standard practice by greedy merchants and/or businesses. They reduce portion sizes or the quality of an item, while increasing their prices. What's worse is that governments are allowing this to happen. The ones who end up suffering are none other than average people like you and me. The Elite will remain unaffected.

I agree with you that currently, all the companies in the world are increasing the prices of their products in a disproportionate manner and reducing the quality of the products. This is done by the companies to make more profits; the companies take such policies to gain additional profits.
Nowadays, it is very difficult to find such companies where they give the right price or the right product. They only see the company's profit but on the contrary, the common consumer is harmed.

I believe it's inflation as well as being driven by companies trying to maintain or boost profit margins, as in shrinkflation. When raw material, labour, transport, and energy expenses are increased, companies may either have to increase their product prices, or they have to decrease the size. What's really scaring people is when companies claim to be charging more because of inflation, but they're really charging a lot more. Ultimately, consumers face not only higher costs, but reduced quality as well, and businesses are concerned with maintaining their margins.

The real threat is not inflation or increasing the price of the commodity, just like the OP mentioned. The real threat is quality reduction because that's where it affects human life. We're talking about people taking the life of consumers for granted. If they can only reduce the size of the product or only increasing the price of the product, go on to do the three, reducing the size, reducing the quality of the product and still increasing the price which is pure robbery. Government has to take more drastic measures in checkmating the activities of these companies.

This act of product reduction has gone way beyond foodstuffs. Adulteration of electrical appliances have set several homes ablaze and ruined lives. I hope government will start taking it seriously against those of them caught.

Reducing product quality doesn't mean company is producing fake or harmful product. We need to distinguish between cutting quality to reduce costs and producing product that fail to meet safety standard.

I also tend to agree that inflation is a major reason behind this. If the costs of raw materials, labor, and transportation hadn't gone up, companies probably would not have had to cut back on product quality.

Honestly, I do not have a problem with companies reducing the size or quality of their product. What I care more about is whether they are being transparent with consumer. The government should step in if companies deliberately hide those change or market their product as if the quality and quantity were still the same as before.

[red4slash]

Now my question is, why can these industries not increase the price of goods and maintain the quality? why is there an increase in price and then still the quality is being reduced. I have noticed this across so many other product in my countries market, not just this yogurt drink.  

I know that this will not be so if my country has a good quality control unit, but even without that, why can these industries not act right and maintain quality, is reducing the quality of product while increasing the price not directly affecting their business?

I think this depends on the target market that they want to emphasize from the beginning if the target market is those who do not care how much the price should be spent is important quality (usually rich people) then surely the product will choose quality as their hallmark but when their target is people who are in the lower middle economy then surely they will not pay attention to quality first because price is the most important here.

The Yogurt you drink it is in the second option, they know the target market they are looking for does not see quality but focus on small price increases so they minimize so that customers do not run away. They can maintain the quality they have but will it be a guarantee that their customers do not run away by looking for other yogurt alternatives at cheaper prices?
This actually gets a little complicated because sometimes business people are faced with several aspects so they need to determine a market strategy from the start.

This is not greed but as much as possible their business is still running at a profit (albeit small) with some consideration especially for the purchasing power or consumption power of its customers.

[Decimetre]

Shrinkflation has been standard practice by greedy merchants and/or businesses. They reduce portion sizes or the quality of an item, while increasing their prices. What's worse is that governments are allowing this to happen. The ones who end up suffering are none other than average people like you and me. The Elite will remain unaffected.

I agree with you that currently, all the companies in the world are increasing the prices of their products in a disproportionate manner and reducing the quality of the products. This is done by the companies to make more profits; the companies take such policies to gain additional profits.
Nowadays, it is very difficult to find such companies where they give the right price or the right product. They only see the company's profit but on the contrary, the common consumer is harmed.

I believe it's inflation as well as being driven by companies trying to maintain or boost profit margins, as in shrinkflation. When raw material, labour, transport, and energy expenses are increased, companies may either have to increase their product prices, or they have to decrease the size. What's really scaring people is when companies claim to be charging more because of inflation, but they're really charging a lot more. Ultimately, consumers face not only higher costs, but reduced quality as well, and businesses are concerned with maintaining their margins.

The real threat is not inflation or increasing the price of the commodity, just like the OP mentioned. The real threat is quality reduction because that's where it affects human life. We're talking about people taking the life of consumers for granted. If they can only reduce the size of the product or only increasing the price of the product, go on to do the three, reducing the size, reducing the quality of the product and still increasing the price which is pure robbery. Government has to take more drastic measures in checkmating the activities of these companies.

This act of product reduction has gone way beyond foodstuffs. Adulteration of electrical appliances have set several homes ablaze and ruined lives. I hope government will start taking it seriously against those of them caught.

Reducing product quality doesn't mean company is producing fake or harmful product. We need to distinguish between cutting quality to reduce costs and producing product that fail to meet safety standard.

I also tend to agree that inflation is a major reason behind this. If the costs of raw materials, labor, and transportation hadn't gone up, companies probably would not have had to cut back on product quality.

Honestly, I do not have a problem with companies reducing the size or quality of their product. What I care more about is whether they are being transparent with consumer. The government should step in if companies deliberately hide those change or market their product as if the quality and quantity were still the same as before.

In most cases, these companies don't signify the changes they have made to the quality of that product to avoid scaring the consumers away. They only signify the changes to quantity and then inflate the price and hide the quality reduction. Before every goods is approved, there are standards that must be met and these are the standards on which their licences were granted. If there's a significant quality drop, it could lead to revoking of their licences and that would be on the transparently fair side. However, they deceive consumers into believing that they've only made a reduction to the quantity and increasing the price, without emphasis on the quality difference. If this quality changes clearly stated , consumers could stop their patronage or reduce drastically.

There should be issues with reducing the quality and should not be treated as nothing.

[Cookdata]

I agree with you, but not completely because inflation is a common phenomenon. It happens when a country has financial imbalances or is based on the content. What we are discussing here is that companies increase the prices of every product slightly during these periods in November-December and June-July. For all these reasons, it is seen that the general consumers who are affected are mainly due to an aggressive attitude of the companies.

It will make more sense if you says the price of some products increases during festive seasons. During December and January, that's usual time for Christmas and New year celebrations, so things are usually expensive then and during Ramadan time, there is high demands used to be July but now the day has shifted due to difference in calendar of moon sighting. However, the tradition of companies in Nigeria is a wicked one, there is no price regulation.

Reading OP posts, you will know where the post was coming from, it's from Nigeria. We have Standard of Nigeria (SON), this people represent standard of products that are produced in Nigeria but guess what, they are very useless agency that knows nothing but bribery. Apart from them, there are other sub organizations that represent people especially the health consumption aspect, make sure things are in order but they don't do their work unless it's reported that a product has killed one person. 

[batang_bitcoin]

I agree with you, but not completely because inflation is a common phenomenon. It happens when a country has financial imbalances or is based on the content. What we are discussing here is that companies increase the prices of every product slightly during these periods in November-December and June-July. For all these reasons, it is seen that the general consumers who are affected are mainly due to an aggressive attitude of the companies.

I do think even it's not completely because of inflation but, the root cause of it is that. Another thing is that the wages have been stagnant for so long and they have to get from their own sales to increase their employees whenever the government requires them to do so. It's true that this is a phenomenon that happens for most countries but, it also depends on the government if they're able to implement to slow it down and help both sides of the corporations and the consumers so that none of them would complain, giving subsidy to the companies to provide still cheap yet quality prices.

[MainIbem]

Normally, when the demand for something is high the price of things tend to increase, when there's inflation too it affects the price of goods and items in the market too but based on the OP's point, it's pure greed when a company reduce the quality of their product whereas increase the price, it's so unfair and such company would've faced the law if it were in developed countries but i think the OP is referring to an underdeveloped country cause it looks like a norms there and people are not pressing charges cause the regularatory authorities for such cases won't take it seriously, too bad.

[Humblevirus]

To be honest,it's really unfair,I understand how you feel ,prices of goods keep increasing while their is  reduction in there products,it happens to me ,I went to get my body lotion, because whenever I'm getting it ,I make sure I always get two so it's going to be for  a while before buying again, just few weeks ago,the price has skyrocketed to ×2 of what I used to buy it ,and when I checked inside it was just half of it ,they have reduced the quantity badly,I was so disappointed .

In most cases, the increase in the price of goods is due to inflation. So, companies will have no choice but to increase the prices of their products because the cost of production may also be  high. In some cases that company may reduce the quality of the product while still increase price very high.If I may say, I would just say that it is a sign of greed, because how will they increase the price so high and still reduce the quality of the product within just a short period time.

But sometimes, the fault is not always from the companies, it can also be from the sellers. Some sellers, instead of selling their goods at the amount they are supposed to sell it, they will increase their prices, especially when they see that the company price has increased. This is even more common when only a few people have the product at that particular time.but I would advise that whenever you visit a supermarket or any place to buy goods and the price has increased seriously, try visiting another place  and compare their prices because it some sell that do cheat us.

[Female King]

To be honest,it's really unfair,I understand how you feel ,prices of goods keep increasing while their is  reduction in there products,it happens to me ,I went to get my body lotion, because whenever I'm getting it ,I make sure I always get two so it's going to be for  a while before buying again, just few weeks ago,the price has skyrocketed to ×2 of what I used to buy it ,and when I checked inside it was just half of it ,they have reduced the quantity badly,I was so disappointed .

In most cases, the increase in the price of goods is due to inflation. So, companies will have no choice but to increase the prices of their products because the cost of production may also be  high. In some cases that company may reduce the quality of the product while still increase price very high.If I may say, I would just say that it is a sign of greed, because how will they increase the price so high and still reduce the quality of the product within just a short period time.

But sometimes, the fault is not always from the companies, it can also be from the sellers. Some sellers, instead of selling their goods at the amount they are supposed to sell it, they will increase their prices, especially when they see that the company price has increased. This is even more common when only a few people have the product at that particular time.but I would advise that whenever you visit a supermarket or any place to buy goods and the price has increased seriously, try visiting another place  and compare their prices because it some sell that do cheat us.

In Nigeria inflation has made almost everything to be very expensive, no body want to be selling there product low while others are selling high but the idea of reducing the quality and quantity of there product and selling it very high it's still what i don't understand people are tired of complaining and decided to move on with it.

Human want can't be satisfied this is just what i see and government is not also helping matters, they are the engineer of why everything is high, even as everything is expensive people are till buying that is why more companies are still increasing the price of there products.

[Onyeeze]

In Nigeria inflation has made almost everything to be very expensive, no body want to be selling there product low while others are selling high but the idea of reducing the quality and quantity of there product and selling it very high it's still what i don't understand people are tired of complaining and decided to move on with it.

Most of us living in Nigeria is the problem we have, the inflation we are experiencing today in Nigeria 95% of the caused, is by Nigeria business men, the importers, decide to suffocate the country by keeping cost of everything is high because of greedy, take a look of real estate business, price of old house's are high, a house that has being built for many years ago and they increasing the rent, so business people want to make 7 times profit of their capital, and government does not want to regulate the price of things,

Human want can't be satisfied this is just what i see and government is not also helping matters, they are the engineer of why everything is high, even as everything is expensive people are till buying that is why more companies are still increasing the price of there products.

We know that, but if government wants to help the masses, they will introduce agency that will be in charge of price regulation and will make greedy human beings to be satisfied by being penalised if they sell their goods and products above the order and regulations of government

[Grace333]

There has been several complaints about product dropping value after they have successfully gain the trust of their customers. This is not just rumors, I myself have experience this with a product I used to love. It's really disappointing to see something esle other than what you have been experiencing without any proper announcement from the company in regards to the change in the brand.  I which most of these companies can be transparent with their customers.

[WillyAp]

There has been several complaints about product dropping value after they have successfully gain the trust of their customers. This is not just rumors, I myself have experience this with a product I used to love. It's really disappointing to see something esle other than what you have been experiencing without any proper announcement from the company in regards to the change in the brand.  I which most of these companies can be transparent with their customers.

Sure is and its mostly shareholder value fixed thinking of management which reals in narrow-mindness
They really believe that customers get over it. Fast.
Car companies are collecting 150 000 per vehicle and still ask for 120 a year to turn on the seat heater.
There is a reason why those companies have huge issues, the screwed their very customer base.

[hedgeh0g]

I don't know if this is only particular to my country but there's something I've observed about industries and the products they make that I would like to point out for discussion.

I visited a regular shop where I buy home commodities and I remember some few years ago that there used to be a particular yogurt brand that I used to enjoy because of its thickness and creaminess and considering that the weather was hot I went ahead to pick up this drink from their refrigerator, went to the counter to pay, I was not shocked to see that the price is no longer what it used to be, it is now more expensive than before, I was not shocked because I understand that things have toughened up in the economy. That was not my disappointment, my disappointment was that the quality of the product has dropped so much even with the price increase.

Now my question is, why can these industries not increase the price of goods and maintain the quality? why is there an increase in price and then still the quality is being reduced. I have noticed this across so many other product in my countries market, not just this yogurt drink. 

I know that this will not be so if my country has a good quality control unit, but even without that, why can these industries not act right and maintain quality, is reducing the quality of product while increasing the price not directly affecting their business?

In the country where I live, there are some very famous and delicious curd snacks made in just one small town. Unfortunately, we recently learned that they will no longer be produced, as the manufacturer is completely shutting down operations and laying off the entire workforce. Everyone is very upset about this. I don't understand how a company producing a nationwide favorite could go bankrupt—the product was clearly a success. It seems the management was completely incompetent; they invested in various other products instead of capitalizing on the fantastic product they already had and could have developed further. Sadly, this is exactly how product quality suffers and prices rise—simply because there’s an idiot in charge.

[STT]

Theres an argument inflation is necessity because without it the government cannot afford to pay its budgeted fiscal expenditure.   They also cannot serve the debt costs if the money is not worth less every year.  Its trick and deception that amounts to a tax, the retailers and makers of produce get blame for the price rise when its occurred at the source via excess money production and its a trick going back to the roman empire and before so very popular with governments.