Shrinkflation hits shelves as companies downsize products
FOX Business’ Madison Alworth explains how Americans are getting less bang for their buck with shrinkflation.
Not only do Americans have to deal with inflation, now thanks to "shrinkflation," you’ll be getting even less bang for your buck.
More companies are looking to avoid raising prices to scare off consumers, so they are instead turning to "shrinkflation" — giving consumers less product for the same price or more.
KROGER MANAGING INFLATION WITH SELECT PRICE INCREASES
As inflation reaches a 39-year high and pushes businesses to grapple with higher operating costs, the practice is becoming more commonplace, according to Edgar Dworsky from Consumer World, a consumer services site.
It’s showing up across major consumer brands such as General Mills and impacting popular items like Chobani yogurt containers and Gatorade bottles, as well as the count of plastic zip bags and oatmeal packets in a box.
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While consumers are quick to notice the differences in portion, quality or packaging shape and size, others are less familiar with the content of products that they buy all of the time. In some cases, frustrated consumers are taking to Twitter to expose some of the nuanced changes from beloved products and favorite brands.
One user points out that Chobani Flip recently reduced the content size from 5.3 oz to 4.5 oz, a 15% difference. The new packaging is also slightly shorter than the old version, and according to the proximity in expiration dates, the change in size occurred in the near past.
FOX Business reached out to Chobani for a statement but did not receive an answer.
WHERE INFLATION IS HITTING CONSUMERS THE HARDEST
Shrinkflation is not only sucking the fun out of Milkyway’s "fun-sized bars," which shed three-quarters of an ounce per bag, but it’s also creating more spending headaches that can’t be solved by some medications, according to Dworsky. Aleve’s 100-caplet bottles now consist of 90 caplets, a 10% reduction.