South Korea Cracks Down on "Shrinkflation": What is it? | Vantage with Palki Sharma
South Korea Cracks Down on "Shrinkflation": What is it? | Vantage with Palki Sharma
In the consumer market, a sneaky tactic called "shrinkflation" is on the rise, where companies reduce the size of products while selling it to the buyers at the same price. This can be confusing for shoppers, who end up getting less for their money. However, some countries are fighting back. South Korea is taking a stand against shrinkflation. The government is now going after the manufacturers, who are shrinking their products without informing the consumers. Seoul has issued new rules requiring manufacturers to inform customers if they reduce the size of a product. If companies do not comply, they will have to face hefty fines of around $7,300. With inflation putting a strain on wallets worldwide, shrinkflation only adds to the pressure. Even US President Joe Biden has called on companies to stop shrinking products. Palki Sharma tells you more.
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South Korea | Shrinkflation | Seoul | Products | Inflation | Joe Biden | Firstpost | World News | News Live | Vantage | Palki Sharma | News
#southkorea #shrinkflation #inflation #firstpost #vantageonfirstpost #palkisharma #worldnews
Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
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Пікірлер: 96
Lays has always been increasing air and reducing Chips, when would they turn into selling 100% air?
@mufasa0
18 күн бұрын
😂
@PriyakantPanwar
18 күн бұрын
FMCG would always remain Costly & Unhealthy in Comparison with Instant food at Home or Restaurant's Local Bakery > Packaged Biscuits, Chips, Namkeen, Sauce, etc They Just need to Improve Hygeine Issues in Some Places, Joint Partnership can help them in Running a Big Smoothly in Big Shop
@Martin_Priesthood
17 күн бұрын
😂🤣😂
@ajuzumaki7399
17 күн бұрын
Just as a humor! People out of breath should just buy Lays for pure oxygen intake.
@mohdasaa
17 күн бұрын
I noticed this a few days ago...not funny at all
In India, biscuit packet with 10 biscuits=10/- In few months, same biscuit packets with 9 biscuits with 20% extra wriiten on packet=10/-
@COOLBRO9601
17 күн бұрын
In india 1/2kg chicken : 200 ; Super 6 boneless chicken in KFC : 600 😂.
In India 1 month mobile recharge reduced to 28 days. Strange
@mlg1279
16 күн бұрын
That's 7 years ago - then, the price had reduced drastically
@raajajagan
12 күн бұрын
To charge for 13 th month bill 😂
I noticed multiple times, even in India... multiple brands doing it...what can we do as a consumer????
@sunitaupadhyaya3287
14 күн бұрын
By changing packaging, designs, shape of products,how they maintain same weight but much less product.How they do and increase prices best eg parle g
India should follow south korea in this matter. Every other company is giving less product while charging the same amount is very frustrating.
@MrBUCKET-gt5og
16 күн бұрын
Agree
@bitopan
15 күн бұрын
What about donation?
@MrBUCKET-gt5og
15 күн бұрын
@@bitopan oh yeah. India has a tax where companies have to donate 2% of their profits after they already pay income tax on revenue
In India, soap manufacturers started it long ago, in 90s i think.. 120g to 100g to 70g and even less. Others followed suit but nobody took notice.
Here in the U.S., you get LESS and pay MORE! Especially with food, and food has become a 'luxury'.
@undertamker9606
18 күн бұрын
But you guys have 70K USD per capita, don't you know how to buy things 🤔
@THOMAS_SHELBY434
17 күн бұрын
@@undertamker9606Purchasing power parity left the chat. If you are Indian and earning 25 lakhs in India then you are equivalent to 1 crore salary of US.😂
@undertamker9606
17 күн бұрын
@@THOMAS_SHELBY434 I know I'm trolling him
the most important question is....did the bag also shrink...
We need global laws to regulate these greedy companies and expose them.
I've noticed nowadays every other product is the same way ...every where😢😢
here on Kenya some biscuits are now the size of sacraments!
@btsaddict9683
14 күн бұрын
😂
@queenme7691
14 күн бұрын
😂
A 5 rupees mad Angles chips had 4/5 chips now. Incredible. Massive heartbreak is when Rs. 5 Kurkure qty got reduced. The current Rs.10 Kurkure qty feels like a Rs. 5 Kurkure of 5 years back. So, clearly 100% increase of Shrinkflation.
@shubhamer2000
17 күн бұрын
Lol start eating local produced potato chips i have ditched AIR FILLED PKTS OF LAYS many years ago now prefer local produce or better option HALDIRAM BIKAJI ( AKA DESI CHAKNA )😂😂😂
Even the size of tetra packs reduced for 10 rupees drink in India.😢
What i remember as my first observation, is all started with parleG biscuits,they kept the same price and started reducing the quantity, and then now every other brand doing it, may it surf,Ariel liquid, ice creams all brands and so on
All the way here in jamaica thinking I was going crazy. It seems it happening all over. They are not only shrinking, it taste different.
Why not grow your crops, cook yourself a healthy meal, and live a productive life instead of paying for food items that are high in preservatives
Yes I noticed it
I am still getting same quantity parle G at Rs 10.
@Dexey136
17 күн бұрын
It was 5 rs 3 years ago
@mein3324
17 күн бұрын
@@Dexey136 In Rs 5 I used to get small pack 10 years ago.
For biscuits ppl can go to bakery for sauces i think an ORGANIC SHOP shud be open where ppl can buy organic products sauces included it might be expansive but better for health chips can me made at home also home cleaning products are just cheap chemicals which are packed and sold overpice MOST OF THE GARBAGE ITEMS CAN BE REPLACED BY HEALTHY ONES
Yes, I recently got a pack of perks, but it has reduced the size.
GOI should do these too... They are doing this continuously
Every packaged goods are shrinking even milk too😢
7300 dollars lol, they'd happily pay that, Korea is in the pockets of Samsung, so if these companies are networked with samsung board then they are fine regardless.
👍👍
This has been going on decades in Japan btw.
Every time someone talk about endless choice, my mind immediately goes to George Carlin's quote "...the things that matter in this country have been reduced in choice. There are two political parties, there are about six or seven information companies but if you want to bagel or 23 flavors because you have the illusion of choice."
In fiji cost of wine is the maximum of $2000.00😊😅
Polo , munch is a good example
food price increase every month in south africa
Check the size of yippee...Didn't know there is a term for this
M&S most products like .. Fresh watermelon..🍉
This fake news won’t show Indian news , Indian problems
Lays sell air.
Like news videos with same length and less coverage😅
We are at their mercy.
Give more and more jobs every year for all companies then people will earn money and spend money 💰
India should learn from it
That is rule which is ther for ag s inmsny countries tgat if the y reduce they have to mention..sttwge
India shud increase trade with South Korea and supply them the daily necessities Exporting India overcapacity Exporting Bollywood to Korea
Good job Korea. I mean inflation is real anyway. But be transparent.
Why buy these junky processed products in the first place?
K-pop also shrinked already, good riddance
Gone mad choco sticks and diary milk also do this
🇧🇩 Bangladesh government should do this with groceries.
It is true for India: country delight selling 450 ml to show competitive rate against the std of 500 ml packet. 500 ml packet is std all over India
#ShrinkFlation
If it shrinks the product stinks usually Gmo garbage
how else companies can increase their profit ? Lets fine them or ask to adjust price based on new quantity / weight. Enough of this NS.
Its should be ban if any company reduce size then also reduce price
Thats for sure! 😄😄 I noticed it on my Ovaltine and Milk😅😅😅
Keep voting Biden, eating a meal will become luxury !
Maggie 🙄
Yes here in the usa.😠🖕
@undertamker9606
18 күн бұрын
Buy more , didn't you have 70K USD per capita
Bjp propaganda moutpiece Phulki
@ritikasharma9271
18 күн бұрын
Yeah unlike Ravish&german shepherd Both r unbiased
@ashishbahuguna78
18 күн бұрын
You must be a congress fanboy🤣🤣
@shubhamgattani5357
18 күн бұрын
@@ashishbahuguna78 khangress bolo. That have lost all respect from citizens
@vijaydeeppurushan2333
18 күн бұрын
What does BJP has to do with this video? Maybe you are just a Bot?
@user-yi8rh9wu9s
18 күн бұрын
See Barkha's interview how Muslims are disappointed with Congress. 😂