What is shrinkflation? How to avoid this sneaky cost-cutting tactic
It’s not your imagination. Store products are shrinking. Here’s what you need to know about shrinkflation.
Shrinkflation is when companies reduce the size or quantity of their product while keeping the same price. That means fewer chips in the bag, slimmer toilet paper rolls and less bang for your buck.
According to a LendingTree analysis of nearly 100 products, nearly a third have shrunk. And 71% of Americans reported experiencing or noticing at least one incident of shrinkflation in the past year, the study found.
That study found the most shrinkflation in paper towels, toilet paper, cereal, and snacks.
Spotting shrinkflation can be challenge but experts say you can start by making some notes of the prices and sizes of things you currently buy regularly.
You can compare those notes when you shop for the same item the next time.
Trust your gut. If something seems off, when you pick it up, give someone else your business instead.
You can also buy in bulk at certain stores or online. Many times, these bulk items are a better value.
Also don’t forget to sign up for store coupons and rewards in apps.