‘Shrink inflation’ is occurring due to prices rising in earnest from 2022.
[News link related to Shrinkflation]
“I feel like I’ve become smaller somehow… Do I have to ‘open’ in front of the shelf every time I go grocery shopping?”
The government discloses product information on the Internet to prevent consumer damage caused by ‘shrinkflation’. However, considering the hassle for consumers to visit a specific site to check each item,
n.news.naver.com
I would like to introduce the Korea Consumer Agency’s Participation Price Site, a site you need to know to deal with shrink inflation.
1. What is shrink inflation?
It is a compound word combining the words shirink, which means ‘reduce’, and inflation. It refers to a strategy where companies try to indirectly increase prices by reducing the size and weight of the product or producing it with lower quality while maintaining the product price.
Gag Concert Comedian Lee Sang-hoon satirizing the Nitrogen Manager – Weekly Chosun, KBS Gagcon capture
2. Korea Consumer Agency Participation Pricing Site Introduction
The Participation Price Site is a price information comprehensive portal site operated by the Korea Consumer Agency to provide consumers with reliable price information.
It is a site that provides a two-in-one service where consumers can meet their needs by providing price information, and participating companies can gain promotional opportunities by posting logos and providing discount information.
3. What information does the Korea Consumer Agency’s participation price site provide?
The participation price site surveys and provides the selling prices of 128 items (336 products) of daily necessities such as processed foods, daily necessities, and fresh foods sold by nationwide distributors (large supermarkets, corporate supermarkets, department stores, and convenience stores) every other week. .
We also provide service price information (public utility fees, dining out fees, personal service fees, academy tuition fees, and non-covered medical treatment fees) researched by the Ministry of the Interior and Safety, Statistics Korea, city/provincial offices of education, and the Health Insurance Review and Assessment Service.
<Items for which price information is provided>
A total of 128 items, including processed grain products (19), snacks and ice cream (12), household items (14), tea, beverages and alcoholic beverages (15), and vegetables (18).
Korea Consumer Agency Participation Price Site Items – Korea Consumer Agency Participation Price Site
<Sales stores providing price information>
A total of 500 stores, including 2 hypermarkets, 2 corporate supermarkets, 2 department stores, and 3 convenience stores.
Korea Consumer Agency Participation Price Site Retailer – Korea Consumer Agency Participation Price Site
4. How to use the Korea Consumer Agency participation price site
When you access the Korea Consumer Agency’s participation price site, you can search for ‘lowest price store in my area’ on the main screen.
Additionally, if you select ‘price information for daily necessities’ from the menu, price information for each item is provided and you can also check discount information on daily necessities.
I believe that if you purchase the products you need at a discounted price through a participating price site, you will be able to spend wisely in this era of high prices.