If you’ve noticed you’re getting less for more while you shop, it’s not just you.
‘Shrinkflation’ – reducing a product’s size or quantity while keeping its price stable – is rampant. As the global economy grapples with issues including rising raw material costs, supply chain backlogs and higher post-pandemic labourer wages, consumers are bearing the brunt of spiking production expenses.
Whether it’s toilet roll or a bag of chips, the practice, which mostly happens during times of inflation, is showing up in shops around the world.
Consumers are taking note of the shift to smaller packaging and – and, naturally, they aren’t happy, especially as their purchasing power is already falling amid inflation. Yet as uncomfortable as the sticker shock is now, a longer-term problem looms large: past manifestations of the phenomenon show the story of shrinkflation doesn’t end when inflation does.
Read more at BBC.com
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