How AI can help companies beat inflation and avoid shrinkflation

Learn how your company can create applications to automate tasks and generate further efficiencies through low-code/no-code tools on November 9 at the virtual Low-Code/No-Code Summit. The domino effect of COVID-19 and the war in Ukraine has disrupted supply chains and increased costs, leaving manufacturers with three paths to survive: increase prices directly, reformulate the product with cheaper materials or downsize products in waves. As customers are more sensitive to increases in price or reductions in quality, many companies opted to take out some of the product without changing the price. Manufacturers refer to this practice as "cost reduction." But consumers call it shrinkflation.