Perky recently had a conversation with an elderly grandparent, who nostalgically longed for the days when popular products were larger in size. In this case, the yearning was for the much larger-sized Mars bars and Wagon Wheels of yesteryear.
This provided Perky with food for thought (excuse the pun) and brought to mind the concept of shrinkflation, to which the vast majority of shoppers are subject. Shrinkflation affects a wide range of products, including food, beverages, household items, and toiletries.
A box of cereal, for example, may contain fewer grams of food, a bottle of shampoo may have a reduced volume, or a packet of crisps might contain fewer crisps than it previously did. All while being sold at the same price point as before. The packaging often remains similar in size, making the changes subtle and less obvious to consumers.
Some randomly selected examples of shrinkflation include: Cadbury’s Creme Eggs, formerly 39.5g of chocolate, but now 35g; Walker’s crisps now reduced in size from 32.5g to 30g; Mars bars have become thinner and Kit Kat fingers shorter; Colgate toothpaste tubes have become smaller, and PG Tips tea bags have decreased in number per box; and to cap it all, the standard carton size of Tropicana orange juice has been reduced from 1 litre to 850ml. Readers will undoubtedly have other examples.
In short, shrinkflation refers to the practice where companies reduce the size, weight, or quantity of a product, while maintaining a similar price. Instead of directly raising the price, manufacturers offer consumers less of the product for the same cost, effectively passing on higher production costs (such as those related to raw materials, transportation, or labour) to customers in a less noticeable way.
This practice can frustrate consumers who feel they are getting less value for their money. Shrinkflation has been particularly noticeable during periods of inflation or economic uncertainty, as manufacturers try to balance their profit margins with consumer purchasing power. Household staples visibly shrinking over time is a global phenomenon, but those of us who shop regularly in the UK can certainly testify to its existence.