Shrinkflation…hear of it? If not, you are experiencing it everyday. Defined as the practice of reducing a products amount or volume while continuing to offer it at the same price or higher. We see it all the time. It could be fewer cookies in package, a shorter candy bar, not as many ounces in your laundry soap, even the size of peanut butter M&M’s, same number in a pack, just smaller size. Some businesses use shrinkflation because they think customers care more about price changes than changes in the product size or number, but, honestly, most people don’t even know it’s happening. Consumer Advocate Edward Dworsky says companies mask it so well:
He suggest that people pay attention to net weight, pay attention to unit prices on the shelves, consider buying the store brand as they are usually the last to shrink or change size, shop around at different stores to see who has the best deals, or check online shopping. Also, experts say that buying in bulk is usually a way to save money.
