Shrinkflation Hitting Grocery Store Shelves – CBS Boston
MINNEAPOLIS (WCCO) – Falling products and rising prices. From cereal to soap, paper napkins to pretzels, you might have noticed that you don’t get as much as you used to at the grocery store. Consumer blogs have told WCCO of products such as 10-to-8-cut packets of oatmeal for some varieties, seven to five-ounce cans of tuna, and 19.3-to-18-ounce family-sized cereal. , 8 ounces, all evidence of inflation, or what is called shrinkage. .
Kim Sovell, professor of marketing at the University of St. Thomas, says companies have learned that consumers don’t like paying more.
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â€œIt’s really a way to hide higher prices,â€ Sovell said. â€œWe are very discouraged by the price increases. We’re going to change brands. â€¦ We focus on cost rather than quantity. Cost over quality.
Unless you have an old box in your cabinet at home for comparison, you might not notice it.
â€œWe check the prices every time we buy, but we rarely check the weight,â€ Sovell said.
The global economy continues to struggle with pandemic issues, and if you haven’t noticed the price hike, Sovell expects it to be more pronounced soon.
Diaper maker Huggies and toilet paper Cottonelle has announced that it will charge 4-9% more until 2022. Proctor and Gamble, behind products like Gillette Razors and Tide detergent, are also eyeing a price spike.
â€œAnytime we start slowing down manufacturing and shipping when in the United States the demand for products is high, what we’re going to see is that supply can’t keep up with demand. which is a surefire way to increase prices, â€Sovell said. noted.
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Sovell traces the Shrinkflation back to the 1970s. Judging from the history books, she says the changes generally persist. For example, orange juice came in half-gallon or 64-ounce containers. In addition, Dial soap has adapted its characteristic concave shape. It is a way of giving us less and in some cases even of making us pay more.
Breyers Ice Cream is another good example – 64 ounces went down to 48. The price hasn’t stayed the same either; it has increased by 25%.
â€œBeing mindful and mindful of our usage is about the only thing we can do as consumers,â€ Sovell said.
Sovell also believes tracking price and size is essential, spotting a practice that shouldn’t be a secret.
“We’re going to realize that it may not necessarily be sneaky or devious but necessary, necessary for business, necessary to continue to provide us with the products that we want to be able to use,” she said.
Sovell also says shopping for sales, using coupons and discounts can also help. Buying in bulk can also work in your favor at times, but Sovell says it’s something you should be weight-conscious about when implementing as well.
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