A community to discuss Shrinkflation

3 years ago by setVeryLoud(true); to c/wowthislemmyexists

A community about companies who sneakily adjust their product instead of the price in the hopes that consumers won’t notice. We notice. We feel ripped off. Let’s call out those products so we can shop better. # What is Shrinkflation? Shrinkflation is a term often coined to refer to a product reducing in size or quality while the price remains the same or increases. Companies will often claim that this is necessary due to inflation, although this is rarely the case. Over the course of the pandemic, they have learned that they can mark up inelastic goods, which are goods with an intangible demand, such as food, as much as they want, and consumers will have no choice but to purchase it anyway because they are necessities. From Wikipedia: > In economics, shrinkflation, also known as the grocery shrink ray, deflation, or package downsizing, is the process of items shrinking in size or quantity, or even sometimes reformulating or reducing quality, while their prices remain the same or increase. The word is a portmanteau of the words shrink and inflation. > > […] > > Consumer advocates are critical of shrinkflation because it has the effect of reducing product value by “stealth”. The reduction in pack size is sufficiently small as not to be immediately obvious to regular consumers. An unchanged price means that consumers are not alerted to the higher unit price. The practice adversely affects consumers’ ability to make informed buying choices. Consumers have been found to be deterred more by rises in prices than by reductions in pack sizes. Suppliers and retailers have been called upon to be upfront with customers. https://en.wikipedia.org/wiki/Shrinkflation [https://en.wikipedia.org/wiki/Shrinkflation] # Community Rules 1. Posts must be about shrinkflation, skimpflation or another related topic where a company has reduced their offering without reducing the price. 2. The product must be a household item. No cars, industrial equipment, etc. 3. You must provide a comparison between the old and new products, what changed and evidence of that change. If possible, also provide the prices and their currency, as well as purchase dates. 4. Meta posts are allowed, but must be tagged using the [META] prefix n.b.: for moderation purposes, only posts in English or in French are accepted.##

I created this community as shrinkflation is getting really bad in Canada, especially in grocery stores.

This community is probably going to lean towards being Canada-centric, but shrinkflation posts from all over are welcome!

Shrinkflation is defined as a reduction in size or quality of a product, for a same or higher price for a given quantity.

From Wikipedia:

In economics, shrinkflation, also known as the grocery shrink ray, deflation, or package downsizing, is the process of items shrinking in size or quantity, or even sometimes reformulating or reducing quality, while their prices remain the same or increase. The word is a portmanteau of the words shrink and inflation.

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Shrinkflation allows companies to increase their operating margin and profitability by reducing costs whilst maintaining sales volume, and is often used as an alternative to raising prices in line with inflation. Consumer protection groups are critical of the practice.

Shrinkflation is a rise in the general price level of goods per unit of weight or volume, brought about by a reduction in the weight or size of the item sold. The price for one piece of the packaged product remains the same or could even be raised. This sometimes does not affect inflation measures such as the consumer price index or Retail Price Index, i.e. it might not increase in the cost of a basket of retail goods and services, but many indicators of price levels and thus inflation are linked to units of volume or weight of products, so that shrinkflation also affects the statistically represented inflation figures.

otter 3 points 3 years ago

Also consider posting on !communityPromo@lemmy.ca (and the other communities mentioned in the post there)

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isVeryLoud 2 points 3 years ago

Thank you, will do :)

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Quetzlcoatl 1 point 3 years ago

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