Most Grocery Shoppers Aren’t Fooled by Shrinkflation

This week, Craig Siminski, of CMS Retirement Income Planning, shares with us an article discussing how products are shrinking in size while prices stay the same or increase. This article includes tips for spotting and reducing the impact of this tricky strategy:

Have you noticed that packages are smaller at the grocery store? If so, you’re not alone. A survey of consumers taken in 2022 found that a majority of U.S. adults have noticed shrinkflation — products shrinking in size while prices stay the same or increase.

This is a common strategy among manufacturers, but it accelerates in periods of high inflation, when companies are under more pressure to control their costs.

About two out of three shoppers who noticed shrinkflation were concerned about the trend. Many of them reacted by purchasing a different brand or a generic product instead, or by buying in bulk, which may also be good ways for you to stretch your own grocery budget.

Spotting shrinkflation is the first step in reducing its impact. To do so, it helps to take your time and pay closer attention to the size or net weight printed on the package, as well as the unit price (the price per ounce, pound, or sheet) of the products you are comparing.

This information can usually be found…

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Craig Siminski is a CERTIFIED FINANCIAL PLANNER™ professional, with more than 25 years of experience. His goal is to provide families, business owners, and their employees with assistance in building their financial freedom.

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