18% of Consumers Unhappy With Tech Price Hikes: Gartner
More than six in 10 U.S. consumers plan to reduce buying from brands that decrease product size (“shrinkflation”) or lower quality (“skimpflation”) to cut costs amid historically high inflation, reported Gartner Monday. The analytics company canvassed 252 consumers in June,…
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finding three-quarters expect inflation to persist through the end of 2022, and 65% expect to cut back on purchases or stop buying altogether in at least one product category, it said. Consumer tech goods didn’t escape blame, said Gartner. The survey found 18% of respondents expressed dismay about price increases in personal and home electronics, and 7% were unhappy with the skimpflation they noticed in consumer tech products through the use of cheaper components and materials, said Gartner.