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.
Source: Morning Consult, August 29, 2022 (multiple responses allowed)
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 in small print on the shelf tag.
This information is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek guidance from an independent tax or legal professional. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Broadridge Advisor Solutions. © 2023 Broadridge Financial Solutions, Inc.
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