Shrinkflation, the economics of keeping a product price the same but reducing the serving size, has become more commonplace in recent years, so brands are responding with new initiatives as seen with the Domino's MOREflation campaign to catch the attention of consumers.
The campaign is targeted towards inflation-fatigued consumers who are continuing to feel the pinch of inflated prices and smaller serving sizes, and will see the brand offering more food for the same price. Customers will thus be able to order any two or more medium two-topping pizzas at $6.99 each with the ability to upgrade one of them to a large at no extra charge. The campaign is taking place from September 9 through 29, 2024.
President of US and Global Services Joe Jordan spoke on the Domino's MOREflation campaign saying, "As a response to high inflation, many companies are shrinking products to avoid raising prices. We understand that consumers are looking for great-tasting, affordable meal options. That’s why we’ve taken our biggest and best offer – our mix and match deal – and made it even better by giving customers more pizza for the same price."
Anti-Shrinkflation Pizza Campaigns
Domino's MOREflation Will Offer More Food for the Same Price
Trend Themes
1. Anti-shrinkflation Marketing - Marketing campaigns like Domino's MOREflation stand out by offering greater value to consumers amidst widespread shrinkflation, enhancing brand loyalty and customer satisfaction.
2. Budget-conscious Consumer Strategies - With the Domino's MOREflation initiative, brands are adapting to inflationary pressures by developing creative pricing strategies that address the budget constraints of inflation-fatigued consumers.
3. Value-enhanced Promotions - Emerging value-enhanced promotional tactics, as demonstrated by Domino's, provide consumers larger portions or additional products without price increases, counteracting the prevalent trends of shrinking sizes and rising costs.
Industry Implications
1. Food and Beverage - The food and beverage industry is innovating with campaigns like Domino's MOREflation to offer more substantial value propositions, addressing consumer concerns over increasing prices and decreased product sizes.
2. Marketing and Advertising - Marketing and advertising sectors are harnessing anti-shrinkflation campaigns to creatively communicate cost-effective solutions, appealing directly to consumers sensitive to price changes.
3. Consumer Goods - Consumer goods industries are witnessing innovative approaches to pricing and product offerings in response to shrinkflation, aimed at maintaining customer loyalty and market share.