Shrinkflation

 I heard a term this week that I don’t remember hearing before and it’s “shrinkflation.” Shrinkflation is when a company reduces the contents of their packaging. For example, a canister that used to contain 16 ounces of coffee may now have just 14 ounces; 300 sheets of toilet paper may have fallen to 275 sheets. The consumer ultimately pays more money for this “shrinkflation,” since they pay the same price for a lesser amount. But they may not notice without reading the fine print on packaging. I don’t want to say they’re trying to deceive us as consumers but we need to be aware, so we know what we’re actually getting at the store. Product downsizing isn’t new — U.S. companies have used the tactic for decades. Shrinkflation tends to come in cycles, though, and it’s cropped up more regularly over the last several months. Recently, packages of a certain brand of raisins dropped by about 2.5 ounces in weight, while another company has reduced the size of its rolls of toilet paper. Trims have also been made by certain brands of yogurt, body wash, soap and cookies. Companies have had to deal with rising prices too and “shrinkflation” is one way to help them. Consumers can fight shrinkflation by looking at a product’s “unit pricing” at the store. This shows the cost per ounce or other unit of measure, that way you can compare costs. And just another tip buying the store brand over the brand name can help you save at the store as well.