77% of consumers have noticed shrinkflation in their grocery purchases over the past year, The October 2024 Consumer Food Insights report found. “Shrinkflation” refers to the practice of reducing the amount of food in a given package while the price remains the same. 78% of shoppers noticed their treats are packaged in smaller portions, and 53% have seen their desserts shrink. Households with children seem to notice the impact of shrinkflation more than households without kids. Consumers tend to have a negative view of the practice and tend to believe companies use it to increase their own profits. “A variety of factors may influence a producer’s decision to downsize a product’s size, such as rising costs in the supply chain and inflationary pressures,” Professor Joseph Balagtas of Purdue University said. (Study Finds)
Phone Topic: Do you look at the weight of the food you’re buying to get the best bang for your buck?