>> Florida’s fourth estate with ginger and Matt Austin, the show where we bring Florida into
focus.
>> This particular seventh the
45th annual fireworks at that
time fountain.
>> We are just two days away
from independence day.
>> It’s over $200,000 to put on
the event.
>> And the city of Orlando is
ready to put on a show.
>> There are over 100,000 people
close to 150 that are going to
be coming to this event.
>> What you need to know before
you head out to fireworks at
that time fountain.
But first --
>>
>> Welcome to another edition of
"Florida’s fourth estate"
we have a bite-sized show for
you today.
I’m not sure that’s what people
really want.
[Laughter]
>> Ooh.
I’m excited.
what a great bite-size show.
Way to really sell it.
>> We’re talking about
significant shrinkage as George
cross -- costanza.
I’m Matt Austin, by the way.
There’s a few way, ways to deal
with inflation, companies can
charge you more or give you less
for the same price, which you
might not notice as much.
So we have an expert in this.
We are talking to him.
He’s a U.C.F. professor.
his name is Dr. anonkristamorfi
A lot of it has to do with
tricking the consumer into buys
the same amount of goods for the
same price.
Doc, thank you for joining us
for "Florida’s fourth estate."
>> Thank you for having me
MATT: So talk to us about what
is shrink-flatoin.
>> OK.
Shrink-flation is shrinkage of
packagings.
As inflation sets in prices tend
to go up or the cost goes up.
As a result, one has to decide
whether you’re going to raise
the price of the item or whether
you’re going to keep the price
unchanged while decreasing the
quantity as a result increasing
the prize per unit.
Any increases in price per unit
is what shrink-flation refers
To
>> It seems like such a
deceptive practice because no
one is going to announce, hey,
we’re going to give you less for
the same amount of money.
Instead, they subtlyy change
packaging and hoping that you
don’t notice.
I noticed it in gatorade.
It was 32 ounces.
Same -- and the price at publix
has been the price forever.
And all of a sud, the bottle is
a little smaller.
It went from 22-28.
It’s same price.
They’re not going to announce
that you’re getting, you know,
less stuff for the same price.
Why do you think they don’t let
you know that this is happening?
It seems deceptive to me.
>> OK.
A couple f things here.
One form will routinely pitch
this as product innovation.
I can give you a few examples.
Let’s take the gatorade example.
Gatorade in this case, pepsico
argued that the size of the
packaging decreased not because
they wanted to have less of the
item but because these bottles
are -- containers were becoming
less easy to hold
So they introduce add groove in
the middle of the packages which
makes the package easier to
hold.
This is positioned less as
shrinkage an and more like
product innovation.
There might be cases where
there’s innovation because
poundy has -- bounty has claimed
that their paper towels are more
absorbent therefore that size
has shrunk.
Two or three sheets in one roll.
Usually consumers tend not no
notice this.
Potato chips, cookies, chocolate
bars come to mind.
There’s actually a public health
benefit from consumers consuming
less.
OK.
less. OK. Let’s take a chocolate bar that
should be much longer 15 years
ago.
They’re not as long today.
However, the point is when it
comes to eating chocolate, the
most benefit or happiness one
gets is from the first few bites
of eating into the chocolate.
>> Yeah, I don’t think people
want someone else deciding hop
of a chocolate bar is satisfying
t them.
And that is right.
To his point, they are doing it
in other packaging.
They’re putting more air in I’m
married to the cheepest man on
the la net.
He took -- it was a thing of
cheetos and it literally had
three cheetos.
He took it back to publix and
they took it.
[Laughter]
MATT: Wait.
It had three cheetos in the bag?
>> Because it’s the 50 cent one
already.
It’s 50 centss but he took it
back.
>> He should get more cheetos
than three for 50 cents.
>> That’s a much higher quality
cheeto that I am aware of.
[Laughter]
>> Three pieces for 50 cents is
out there.
Keep in mind, a lot of this has
to do with cost going up.
It is probably a big -- bit
easier to explain what’s going
on now because costs have gone
across the board whether it’s
wages, gas, transportation
packages, what have you.
All these costs have gone up.
At which point it becomes
slightly easier to explain this
as an increasing cost.
The other point I do want to
bring up is what happens when
inflation goes down?
Are they going to become nicer
and provide more product in the
package?
That does not happen.
Consumers have gotten used to
paying this high prices per
unit.
Then what do you change?
Why would you do it when nobody
else is doing it.
Wal-Mart isn’t doing it
so why would target do it?
Consumers get these high prices.
The other thing that invites
such behavior is during times of
inflation, you pay your
employees more.
Wages are higher.
When inflation dies down, are
you suddenly going to stop
paying your employees less?
No.
If those wages don’t go down,
how can they manage to bring
prices down and yet remain
profitable when a huge chunk of
their wages and benefits have
not come down.
That’s the reason why prices
haven’t come down.
Usually they tend to not I
crease as inflation disappears.
>> Thank you for en lightsening
us on shrink-flation.
I know the price I pay for
things.
But I’m I’m not feeling around
the bag or measuring the
container to make sure it’s the
appropriate am.
Now, I will be.
I’ll be looking for I. doctor,
thank you so much
>> Small the new big.
>> Few for having me
MATT: It’s our pleasure.
MATT: Welcome back to the show. So glad to have you with us today.
We are closing in on July 4th,
which means in fireworks at that
time fountain is almost here.
It’s quite the elaborate show
Gigi.
>> We’ve been out there every
single year.
I love this time of year.
So many people show up.
And it is always -- always
spectacular.
It’s one f those moment where is
after it’s done, all you can say
is God bless America because sit
so spectacular.
So how does all that happen?
Who makes it happen?
Who makes things go boom, right?
OK
So we have a very special guest
joining us.
Her name is pabla Paul.&
She is with the city of Orlando.
It’s so nice to see you.
Thank you for joining us.
>> Hi, thank you both for having
me.
This is really awesome.
Ginger: this is your first year
doing fireworks at that time
fountain.
But I know you’re familiar with
But I know you’re familiar with it why is this so exciting for you?
Because you were telling us it’s
pretty exciting.
>> Yeah, honestly, everybody is
so excited to be back outside
and really enjoy their community
and all the activities going on.
This particular seventh the 45th
annual fireworks at that time
fountain
So everybody is excited to get
out and see one of the biggest
event that the city of Orlando
puts on.
>> It is the biggest.
I may be a little biased because
here on News 6 we are partners
with you guys, but it is the
best.
What does it take to do that?
>> Oh, man.
It taken a lot of moving pieces.
Several moving departments with
the city of Orlando.
Great partners.
It’s a heavy lift.
But many hands to help out.
>> Do whatever -- or do we have
safety precautions in place?
>> Of course, there are safety
precaution in place.
But we want to make sure that
everyone enjoys the event.
We want everyone to commute to
-- come out with masks if they
feel the need to do so.
And sanitizers will be in place.
There will be 150,000 people
from around Orlando to come and
enjoy this event.
So do what you feel is safe
but of course, there will be
several, several, several safety
precautions in place to make
sure everyone is comfortable to
enjoy the fourth of July.
>> And no pressure.
But they all want the best show
because the fourth of July it
only happens one time, right?
And so how are you guys making
sure that all of this is
coordinated?
Because we look at how the
fireworks goes -- set toe music.
And it’s butte -- set to music.
And it’s beautifully timed.
How does that work?
>> Our fireworks vendor and the
Orlando council, the three of us
get together.
We share what the show looks
like and the band kind of
creates music, and they put it
together where they time it
perfectly.
It’s what makes the magic happen
for everybody on the day of the
event.
>> That’s a bit of a dance in
itself right there because
usually I get the honor of being
on stage and I introduce the
mayor who then brings in the
fireworks.
We have a band playing music
with everything syncing together
in this magical terrifying
moment as we’re trying to deal
with live TV, and people who are
actually there, the hundreds of
thousands of people
so in that moment when
everybody’s about to happen,
when the mayor is about to say,
all right, let’s light up the
sky, you’re going to be
terrified, right?
This is your first year, of
course.
So you’re going to be basically
the most nervous people out of
all the people watching.
>> 100% I’ll be terrified.
it’s that fear that makes it
exciting.
We plan far in advance with
this.
It starts like six months back
like right after the holidays
some of all the planning -- of
course, we know it’s not for
not.
It’s terrifying but also
exciting at the same time.
>> You can want have a run threw
with the fire.
I mean, how do you do that?
>> Honestly, it’s a big part of
it is trusting our fireworks
vendor.
They kind of educate us of what
the show will look like.
At a certain point we put it in
their hands to make it happen.
That’s a lot of trust because in
years past, and I I know you’re
familiar with some of the things
that have happened.
We’ve had cities in Orlando
where the vendor didn’t come
through or in other cities and
other states the fireworks
started and it all went off at
once.
[Laughter]
once. [Laughter] Matt: makes far really great
couple of seconds.
[Laughter]
ginger: people plan their whole
day around this.
Do you guys have any contingency
plans or that’s just not going
to happen?
>> Honestly, we put a lot of
faith in our vendor.
We work with him for so many
years.
So they kind of know what to
expect and what should go on.
But they also bring extras just
to make it a 20 minute show or
maybe a 10-minute show.
We have faith that it will be
the best show yet.
>> Planning out and getting it.
What is the best spot to enjoy
fireworks at that time fountain?
>> Like you mentioned show up
early.
Like I said before, there are
over 100,000 people probably
close to 150,000 that are going
show up for this event show
up early.
Find a good spot
also we live in Florida, so
prepare for inClement weather.
Bring an umbrella.
A hat, some sunscreen, get
prepared to be there for a while
but also starting at 4:00 p.m.
So from 4:00 in the 9:00 there
will be vendors sponsors, a kid
zone, plenty of food.
Lots of family activities for
everyone to come and enjoy.
>> How many booms are you
planning on setting off?
I thought last year was pretty
big.
People love numbers.
How many ideas or fireworks the
vendor might be going through?
>> Total 1, 032 booms some a lot
of action.
A lot going on.
just expect a lot of noise.
But it’s going to be a lot of
fun R. people always ask, OK.
All those fireworks, how much
does something like that cost?
>> Oh, my goodness, it’s a
pretty big number.
I would say, it’s over $200,000
to put on the event.
But we’re so thankful for all of
our partners and sponsors
because they help off-set some
of those cost.
But I would say it’s aren’t the
$200,000 mark.
>> So where will you be perched
for the first time experiencing
it in your new position?
>> Oh, my goodness, from what my
colleagues shared with me is
that the best place to catch the
fireworks is on the back end of
the amphitheaters.
I will be enjoying the show.
>> That’s usually whereer am.
-- where I am.
Sit a great view of everything.
And I’m excited for you to see
it for the first time because it
is really a great event.
And we’re excited to partner
with the city of Orlando to make
it all happen.
It’s going to be fun.
We’re going to be sweaty.
Like if you see me throughout
just stay outside of like a five
hat radius because there’s going
to be some stank some cloud.
I know you don’t sweat, you
sparkle.
>> It’s not going to work.
It’s not going to be enough.
>> No.
No.
>> You’re going to need more.
>> I’m going bring a vat of it
out there.
I’m going to dive in it every 30
minutes.
If you get out there.
Come say hi to us and see Pabla
If I goes poorly, don’t blame
us.
You can blame that person right
there at that time bomb of the
screen.
>> Don’t do it.
[Laughter]
I’m all about diverting the
blame.
so thank you so much.
>> We’re looking forward it to.
Thank you so much for taking the
time to talk a little bit about
it because it really is one of
our favorite events we do here
stationwide.
>> Absolutely.
Thank you both so much for
having me.
Really excited.
And looking forward to seeing
you both on the fourth of July.
>> We’ll see you then.
Bye.
we’ll be right back with a look
MATT: We’re going viral with some Floridians who have millions of followers
specifically on Tiktok this.
this has truly changed their
lives and become their entire
job.
We’ll teach you how they do it
and show you
We‘re gonna to take talk about