How Shrinkflation Is Impacting Your Grocery Trips

With rising prices for basic goods and shortages of essentials making it harder to afford your everyday purchases, there’s yet another covert way you’re paying more for the same items in the grocery store. It’s called “shrinkflation,” which, according to consumer expert Edgar Dworsky’s blog, is when products “have shrunken in size as a sneaky way for manufacturers to pass on a hidden price increase.”
Sumit Vakil, Chief Product Officer and co-founder of supply chain risk management company Resilinc, says that the practice of shrinkflation is becoming more common across the market. “Everywhere we are seeing businesses, and ultimately consumers, paying more for goods or getting less; especially for anything in short supply and high demand…Some companies are implementing supply chain surcharges in the form of an additional ‘hidden’ layered fee on top of other costs, or a flat-out price increase.”