64% of customers fear 'shrinkflation', What is it?
By The Exchange Team
Due to record-high inflation, many people have experienced sticker shock at the grocery shop.
However, another surprise that has caught the attention of consumers — and is even trending on TikTok — is "shrinkflation."
64% of respondents are worried about shrinkflation, according to a Morning Consult survey, and 54% had seen ,read or heard of it.
What is 'Shrinkflation'?
Shrinkflation is when the weight, size, or quantity of consumer goods decreases but their prices remain constant or even rise.
What it's happening ?
As companies face increased gas and ingredient costs and supply chain constraints, the tendency is growing.
Is it a new phenomenon?
While shrinkflation is receiving a lot of attention right now, this type of downsizing has been going on for decades.
How to Prevent it?
Try rival or generic brands to avoid shrinkflation. You can also complain the manufacturer. While that won't stop shrinkflation, it may win you some coupons.