REDUCE PRODUCT or INCREASE PRICE?? In our inflation-weary business world the Shrinkage issue in products has become a bit of an insult to the consumer. Like you are not going to notice you are paying the same price — or higher — for less product. Irritating at best, eh?
My suggestion is refuse the obvious choices.
Meaning do NOT reduce product OR increase price.
Instead, work harder to keep the customer happy and Deliver More Than You Promise. True, it is harder to do that with costs rising for you (and for us). But the client you serve better in these rough times with remember your efforts and hopefully stay with you in time to come. Go for the long game!