In an attempt to shorten the length of a form or reduce visual noise, designers use placeholder text as an input label. This practice places burden on short-term memory. The label disappears as soon as the user clicks and/or types. The entry must be deleted to expose the label again.
Alternatives to Placeholder Text
Andrew Coyle

I’ve seen this pattern disappearing lately. The new one I’ve seen is that the placeholder text darkens, gets smaller, and moves to the right of the field. I quite like it. It’s a balance of aesthetics, responsiveness, and usability. I’m not sure how it works for accessibility though.

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