Among the various phenomena that have recently increased their presence on the market is shrinkflation , which, together with inflation, is radically changing the habits of Italians . This phenomenon directly affects supermarkets rather than small shops, where essentially there is a change in products but not in their prices.
But let’s take a closer look at what we’re talking about, starting with what shrinkflation means, how to pronounce this rather unusual and peculiar term, how to avoid encountering a similar situation, and what to do and therefore how to behave in the event of shrinkflation. In short, it’s a series of information and rules or purchasing habits to adopt to counteract this commercial process, which ultimately impacts the end consumer, wherever possible.
What does Shrinkflation mean?
As mentioned in the introduction, we begin this in-depth analysis of the phenomenon known as Shrinkflation with its meaning: a phenomenon about which complaints have also been filed . This term refers to the process of shrinking product formats while maintaining their price.
Therefore , even with different contents, the cost of the product remains unchanged. This phenomenon is therefore decidedly negative for the end consumer, who thinks they’re buying the same product with only the aesthetic packaging changing, when in fact the contents themselves vary significantly. Ultimately, therefore, formats are becoming smaller, as are the packages, and the internal weight is lighter, but the purchase price remains unchanged.
How do you pronounce Shrinkflation?
Let’s now look at an aspect less practical and more theoretical: how to pronounce this seemingly abstruse term, Shrinkflation. To translate it here into writing, the pronunciation corresponds to ” Scrincfletion .” The aforementioned term can be divided into two words: “shrink,” which stands for “restriction,” and “inflation,” which stands for “inflation.”
Hence the variation in size of a given product over time, given the same price . In short, the shape and substance change, but not the cost to the buyer. In fact, in some cases, not to mention many, the price actually increases rather than remaining unchanged or decreasing. This is a decidedly anomalous countertrend given the product’s variability.
How do you avoid Shrinkflation?
The best way to combat this increasingly prevalent phenomenon in supermarkets and large-scale retail outlets is undoubtedly consumer information and awareness . Consumers must pay close attention to product labels, ensuring that changes in size and format don’t also affect the product’s weight, which would consequently alter its original condition and lead to a price disparity. Therefore, if the price corresponds to the quantity purchased, good thing; otherwise, shrinkflation is a risk.
This undoubtedly benefits manufacturing companies, which regain ground and power in the wake of rampant inflation, but to the detriment of consumers and users, who, if unaware of phenomena like this, lose money and raw materials. Another method that could help prevent shrinkflation is for companies to support sustainability and customer focus. Therefore, focusing on the buyer rather than just the seller, ensures that such processes don’t impact only one segment of the market: demand.
Another way to avoid shrinkflation, at least not directly, is to try to exploit the cashback offered by some stores, especially online ones. This technique is so widespread that cashback is even available in casinos : for example, if a product has a 20% discount, but if you buy a certain number of products you get that same 20% back (or even 10%, just to reduce losses), you can buy enough of them to cover that gap by getting back 20% of your purchase. Or, in any case, the cashback amount.
What to do in case of Shrinkflation?
So far, we’ve illustrated the shrinkflation process, examining it from various perspectives: from its development to how to avoid it. We’ve also analyzed the prevalence of this commercial phenomenon, which particularly affects supermarkets and large chains, where products are altered in size and weight at different prices. As we’ve repeatedly emphasized, the price either remains unchanged or tends to increase, just like inflation. That said, let’s now look at what to do in the event of shrinkflation : that is, when you’re caught up in this commercial phenomenon, either to your own detriment or unknowingly. First and foremost, it’s important to stay informed about this, as well as other marketing tools that ultimately target the consumer.
Clearly, we don’t always have the opportunity to be fully informed and aware of all the production and sales processes, which is why, once it occurs, this phenomenon can only be contained. How? Starting by paying more attention to the products we purchase, from the label to the price, including weight. Price per kilo or per liter, depending on the case, helps us assess the true value of the investment. Checking the weight and volume, and whether it’s possible to photograph the product you intend to purchase, would also be a good habit to nip the possibility of shrinkflation in the bud. Preventative measures to ensure that, once we have encountered this problem, it doesn’t happen again to our detriment.
Therefore, we must learn from mistakes or lack of forethought to improve our purchasing and spending habits . Obviously, such a phenomenon should not exist in a functioning economy that does not experience inflation and constant price increases over time despite a stagnant supply of products. Demand should always be preserved as the ultimate goal of sales and not used as a way to raise money in trade through factors such as shrinkflation.
But if you really can’t stop these events and want to avoid passively enduring them, you need to act by increasing your attention span. Carefulness and attention to detail always make the difference, and this is a key point here.
