Consumers take notice of shrinkflation
Three out of four surveyed consumers say they have noticed shrinkflation at the grocery store in the previous 30 days, according to the October 2024 Consumer Food Insights Report from Purdue University.
Shrinkflation is described as when food companies reduce the quantity or size of a food product while keeping the same price.
“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,” Joseph Balagtas, professor of agricultural economics at Purdue and the report’s lead author, said in a news release. “The goal is to better understand how consumers perceive these reductions and if they have noticed them happening at all.”
The survey sorted 1,200 consumer responses into two groups: households with children and those without children. Of the consumers who noticed shrinkflation, 78% say they have observed it in snack foods and 53% in packaged desserts and sweets. Just under half, 48%, also said they have observed shrinkflation in frozen foods. Those with children report seeing shrinkflation in a wider variety of food products, according to the release.
https://www.thepacker.com/news/retail/consumers-take-notice-shrinkflation
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