: Revenge of the inflation-weary customer: Yelp reports more complaints due to smaller portions and higher prices

by | Jul 27, 2022 | Stock Market

First inflation came for grocery bills and gas prices, now it’s showing up in Yelp reviews complaining of meager portions at dining establishments and rising costs at businesses generally.  Customers mentioning the word “inflation” in Yelp reviews or describing “inflationary experiences” such as higher prices hit a record high in the second quarter, rising 7% from the previous quarter and 28% compared to last year, according to the latest Economic Average report from Yelp.

For the first time ever in the second quarter, the word “shrinkflation” showed up in Yelp reviews. That’s the term for when a product has shrunk in size, but the price has remained the same. It’s a strategy manufacturers use hoping that shoppers won’t notice inflation’s pinch as much. Shrinkflation mentions appeared most often in reviews of fast casual restaurants serving “more affordable offerings like hot dogs, hamburgers, pizza, followed by seafood restaurants, Italian food, and Chinese food,” the report said. The consumer rating platform has been regularly analyzing its reviews, looking for mentions of “inflationary experiences,” including phrases such as “higher prices,” “used to be cheaper,” and “more expensive.” Since early 2021, the use of such phrases in Yelp reviews has soared for five straight quarters.  The report comes as the prices of goods and s …

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