Shrinkflation is Real — Here’s What Shrunk the Most [LendingTree Study]

If your grocery bags feel lighter or your trips to the store are becoming more frequent, you’re not alone. Some companies are reducing the size or quantity of their products rather than raising prices, leaving consumers shortchanged.

According to a LendingTree analysis of nearly 100 products, a third have shrunk.

A third of the 98 products LendingTree researchers analyzed have shrunk. Household paper products — toilet paper and paper towels — saw the highest rate of change via fewer sheets per roll. 12 of 20 (or 60.0%) household products reduced their sheet count, with 12 mega rolls of Angel Soft toilet paper decreasing the most (25.4%) in size from 429 to 320 sheets a roll.
Seven of the 16 (or 43.8%) breakfast items analyzed have been downsized since 2019 or 2020. Family-size Frosted Flakes dropped 9.6% from 24.0 ounces to 21.7, leading to a 40.0% price increase per ounce.
71% of Americans report experiencing or noticing at least one incident of shrinkflation in the past year. 57% of Americans say they’ve experienced or noticed multiple incidents of shrinkflation in the past year.
Americans feeling misled by shrinkflation boycott offenders. 82% who’ve noticed shrinkflation say they feel deceived when they see incidents of it, and 66% say they’ve stopped buying products because of it.

“Businesses know that customers aren’t always super diligent in comparison shopping, so shrinking the product a little bit is likely to go completely unnoticed by many people,” says LendingTree chief credit analyst, Matt Schulz. “Companies know full well that it’ll turn some customers off, too. The calculation they have to make is to weigh the risk of shrinkflation versus the risk of hiking prices. It’s quite clear that many companies prefer the former.”

Click here for the full report and rankings of products that shrank the most/least.

Source: westerngrocer.com