In the past several days, several publications have posted about Shrinkflation. Below is an excerpt from Quartz. A google search will turn up similar reports from Business Insider, The Express Tribune, and The Daily Mail, to name a few. If you’re a Reddit user you can see the postings here.
Here is a link to a Bloomberg video.
On your next trip to the supermarket, check out the size of your favorite products. You may be in for a surprise.
By Clarisa Diaz, Things Reporter, Quartz
Do consumers notice when their everyday products get smaller? Often they don’t and companies are taking advantage by reducing the amount of product they sell while keeping prices the same. Shrinking product sizes to pad profits is not a new tactic but it grows in popularity during periods of shortages and inflation. Some consumers are noticing and documenting their shrinking groceries on the shrinkflation subreddit.
Even with today’s release of US inflation figures from the Bureau of Labor Statistics showing prices increased 7.9% in the last 12 months, consumers may not realize they’re paying more for some of their regular purchases because companies are reducing sizes while keeping prices the same.
What is the meaning of shrinkflation
Downsizing a product while keeping its price the same is sometimes called “shrinkflation”—a combination of the words shrink and inflation. Companies face higher prices for their supplies and may try to pass that on to the consumer. Downsizing a product reduces costs for manufacturers.
Disclaimer
The information contained in South Florida Reporter is for general information purposes only.
The South Florida Reporter assumes no responsibility for errors or omissions in the contents of the Service.
In no event shall the South Florida Reporter be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in an action of contract, negligence or other tort, arising out of or in connection with the use of the Service or the contents of the Service. The Company reserves the right to make additions, deletions, or modifications to the contents of the Service at any time without prior notice.
The Company does not warrant that the Service is free of viruses or other harmful components
Very helpful.Thanks for sharing