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Winsight Grocery Business: Products are shrinking, but prices are not

Sneaky shrinkflation is creeping up, yet 29% of consumers are unaware of it, according to new research from Kroger-owned data firm 84.51°.

Consumers are paying the maximum for the minimum more and more these days as many companies are reducing the weight or quantity of products, but keeping prices the same.

This practice has been dubbed “shrinkflation,” but not even half of consumers are aware of it, according to a new report from Kroger-owned retail data science, insights and media company 84.51°.

Of shoppers surveyed for the firm's October consumer digest, 29% of shoppers said they have not noticed any categories that are shrinking pack sizes.

Of the 45% of shoppers who have noticed shrinkflation, they said they will buy a different brand that hasn’t reduced its size. Still, 40% of consumers said they will still purchase the item at the reduced size, and 42% said they will purchase it as well, but only if they have a coupon.

But 17% of consumers said they wouldn't buy the downsized item at all, while a smaller percentage, 10%, said they would actually buy more packages to ensure they have enough of the product.

Click here to read the full Winsights Grocery Business article.

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