Shrinkflation is becoming all too common in today’s economic landscape.
So much so that just last week European grocery retailer Carrefour made headlines by putting shrinkflation warnings on the products of offending brands to alert consumers to this sneaky move. Among those hit by the chain were Pepsi, Lindt and Lipton Ice Tea.
But as awareness grows on the continent for the practice of shrinkflation, UK favourites are far from immune from the stealthy price hikes and product shrinkages – let’s take a look at some of shrinkflation’s worst offenders.
What is shrinkflation?
Shrinkflation is where manufacturers reduce the size or quantity of their products while maintaining or, in some instances, increasing the retail price. This subtle tactic is a strategic response to rising production and operational costs.
Essentially, it’s a concealed form of inflation, affecting consumer value and purchasing power, often going unnoticed as it quietly infiltrates the market, impacting a diverse range of products from confectionery to household essentials. However, some eagle-eyed consumers haven’t been fooled by the trick – here are a few brands that have tried to pull the wool over our eyes.
Shrinkflation’s Biggest Cheats
Galaxy Smooth Milk Bars – 9% decrease
In a glaring example of shrinkflation, Galaxy smooth milk bars have seen a significant change. In September 2022, these bars weighed 110g and cost 99p at Tesco, £1 at Asda, and £1 at Morrisons. By September 2023, the weight was reduced to 100g, with prices jumping to £1.25 at Tesco and Asda, and £1.50 at Morrisons, illustrating a clear reduction in value for consumers.
Jaffa Cakes – 9% decrease
Jaffa Cakes have undergone a noticeable transformation, with each weighing less, from 12.2g to 11g, and reducing in diameter from 5.5cm to 5cm.
Lurpak Butter – 20% decrease
Lurpak Butter has seen a substantial 20% reduction in its quantity, while raising eyebrows through simultaneous price increases.
Classic Magnum – 9% decrease
The delightful Classic Magnum has become 9% smaller, a shift impacting consumers by delivering less value for the same or a higher price. Such alterations may potentially affect brand loyalty and consumer preferences.
Pringles – 7% decrease
The state of Pringles’ shrinkflation has depleted the value offered to snack enthusiasts – by 7% to be exact – and underlines the widespread occurrence of this underhanded practice.
Terry’s Chocolate Orange – 10% decrease
Terry’s Chocolate Orange has witnessed a 10% reduction in size, affirming that even festive favourites are not exempt from the impacts of shrinkflation.
Twix ‘Fun-Size’ Pack – 13% decrease
Twix ‘fun-size’ packs have also fallen victim to shrinkflation, with the weight of each bar reduced from 23g to 20g.
Fairy Liquid – 5% decrease
Fairy Liquid, a household essential, has experienced a reduction in volume from 870ml to 820ml, with the price inflating from £2.39 to £3.This exemplifies shrinkflation’s expansive reach across diverse product categories.
Stay alert!
Shrinkflation is a silent yet profound economic phenomenon that subtly degrades consumer value by offering less for the same or an increased price. It spans across a multitude of products, from chocolates and snacks to household essentials. By staying informed about these subtle changes, consumers can make more conscious purchasing decisions, ensuring optimal value for their hard-earned money. The invisible hand of shrinkflation in the UK is subtly reshaping consumer value, and a vigilant consumer is the first step towards mitigating its insidious impacts.
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