Is "Skimpflation" Just Consumers Continually Trading for Lower Costs?

#Skimplflation? Very creative and provocative economic concept. If you have not seen this article yet and you have any interest in economics, it is worth the read. NPR article

The notion that we are giving up something (costs) and continuing to be a patron of whatever product or service could just be an unspoken transaction. A transaction where we go along with the new expectation that we are treated like cattle on airlines, or have to struggle to scan our own 16 foot long 2x4 at a home improvement center...or walk a mile from the parking lot to the entrance gate at Disneyland.

But to be fair, if consumers refused to put up with these situations, they would eventually take their business to alternative locations (OK maybe Disneyland is an exception for that audience). The business owner would then have to add costs back to their operation to bring service back up...which nets an inflationary result.

Having attended an outdoor music festival in Nashville in late September, it was obvious that the promoters went to great lengths to ensure that service and the support staff were excellent. It is still possible to make excellent service happen...it really just matters how much we, as consumers care and are willing to pay.