The Food Nation: Report: Consumers Taking Notice of Shrinkflation

While consumers’ safety concerns about COVID are lower than ever before, their financial concerns are at an all-time high, according to data from 84.51°’s August report. Nearly half (48%) of shoppers were feeling uncomfortable about their finances this month, the highest level recorded since October 2021.

With that, shrinkflation is not going unnoticed by shoppers, especially those already sensitive to higher prices. When asked to identify where shrinkflation is occurring, consumers mentioned shrinking pack sizes of chips (51%), cereal (37%), candy bars (29%) and toilet paper (26%).

“The national news media’s focus on [shrinkflation] has brought attention to this practice, but it’s really not new,” Julie Companey, director of client strategy, grocery drug mass channel at Vericast, told The Food Institute. “Cereal, bath tissue, coffee and ice cream have all been downsized over the years to allow the price to stay at a certain level, but the consumer is getting less.”

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