The slowing economy has meant a number of changes for consumers, including higher grocery bills. However, despite rising prices for food, a new study has found that the size of many grocery store products is shrinking and consumers need to be aware of it.
A phenomenon known as “shrinkflation” has gradually become more noticeable over the years, and the trend is accelerating. Consumers are now paying higher prices for less food.
According to the report from Kroger-owned retail data science, insights, and media company 84.51°, 29% of shoppers haven’t noticed any change in food packet sizes, but 45% have noticed some shrinkflation and are moving to a different brand that hasn’t reduced sizes.
Another 40% of consumers, when surveyed, said that they will continue to purchase the same product and put up with the size reduction and 42% said they would only buy the product if they had a coupon to help make up for the difference in size but lack of price reduction.
Only a small number of consumers said they wouldn’t buy the product anymore, with 17% responding with this answer. Another 10% of respondents said they would buy a higher quantity of the item to make sure they had the right amount of food.
Which products are most affected?
The study also looked at which types of food had seen the biggest shrinkage. Consumers most reported this problem with potato chips, as 50% had noticed a size reduction. Other common products were cereal, at 33%, bacon at 28%, ice cream at 26%, and toilet paper at 23%.
There are also reports that manufacturers are trying to cover up this difference in size using methods like making a “dent “ in the product space so it’s less noticeable.
However, there are some ways consumers can fight this. For example, comparing brands or unit prices and choosing a different product or making a complaint to the company can make manufacturers less likely to tinker with the product sizes.