Big corporations and retailers are well aware we’re in the middle of a recession that will get worse before it gets better, and they are not content with watching revenue and profits pass them by.
Many are turning to something that’s called “shrinkflation.” According to a Fox Business report, they downsize their products and lessen their weight or unit size while keeping prices the same.
A consumer watchdog named Edgar Dworsky told Fox this is hardly a new strategy during lean economic times.
“Shrinkflation or downsizing has been going on for decades. I mean, I first noticed it, frankly, when I was a kid and my Mounds candy bar was no longer two ounces.”
The Associated Press reported that a few months ago, a small box of Kleenex had 65 tissues in a box, and now that number is 60.
The consumer price index has risen to 8.6% in May, the highest it has been in 41 years, and you will probably notice shrinkflation the next time you shop for groceries or household items.
Boxed cereals and laundry detergent box sizes have decreased recently, and the next time you are in a store, check out the bottle sizes of Gatorade, which have shrunk from 32 fluid ounces to 28.
Chip lovers, be on the lookout too. The good old Fritos Scoops “Party Size” packages used to be 18 ounces, but now that party has shrunk to 15.5 ounces.