I don't think this gets talked about NEARLY enough. So many items are much smaller than what they were even a year ago. Everything from food, pet care, cleaning supplies, groceries. Your favorite item at the grocery store may only be "up" 5-10% but they probably shrunk the amount in the package by 10-15%. We went to chik fil a last night for the first time in a while. I was shocked how small the chicken sandwich has gotten and they raised the price $1 just for the entree. How small can packaging get before the average joe actually starts to realize?
Shrinkflation
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Last: 3 mo ago by Fenrir
Fatties
The sandwich has always been small. You probably just eat more now.
Tell me about it. This is from my favorite local thai street food spot.
Top is this year @ $11.99/entree
Bottom is 2019 @ $9.99/entre.
20% increase in price while also decreasing portion sizes by ~40%.
Plus, pre-covid, you basically got two meals out of the entree since the portions were so generous.
If you wanna see how shrinkflation has impacted your favorite spot, go check Yelp and look at the pictures of the food portions (and prices) over the years.
All part of the plan!
I'm generally fine with smaller portions. It will be interesting to see if we see prices come down once food and or wage inflation dissipates. I expect restaurants will be slow to change stated prices and capture that spread until consumers push back
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Inflation manifests in various forms.
Same size + higher price
Same price + smaller quantity
Same size, same price, inferior quality
Same size, same price, lower frequency
etc. Use your imagination
Only the uninformed or unobservant believe that inflation only = price increases
Same size + higher price
Same price + smaller quantity
Same size, same price, inferior quality
Same size, same price, lower frequency
etc. Use your imagination
Only the uninformed or unobservant believe that inflation only = price increases
Thanks & Gig 'Em
Go to Europe and stop at a grocery store and see some of your favorite products. We have a LONG way to go with shrinkflation. Coke bottles are 70% the size and maybe thats not a bad thing.
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AggieMainland said:
Go to Europe and stop at a grocery store and see some of your favorite products. We have a LONG way to go with shrinkflation. Coke bottles are 70% the size and maybe thats not a bad thing.
Username checks out !
I do enjoy traveling and seeing the different size packaging of products I use here. Definitely always smaller abroad but cooler looking in some ways.
There really should be more options to buy things at smaller sizes (but at lower price points...which I know is not the point of this thread).
The US consumption model is based on buying things for families.
The US consumption model is based on buying things for families.
I don't think the problem OP is talking about is JUST smaller portions. He laid it out pretty well. We've always had the option to consume less.
Bill Miller salad got me the other day. Same price, smaller container and barely any lettuce. They also took the roll away included in the combo meal. There are so many instances over this past year, but this was the most recent.
One of our regular Mexican Food haunts recently updated their menu and went from $12 for (3) enchiladas to $15 for (2) enchiladas...double whammy.
On one hand, we need to eat less in this country. We are a disgusting, unhealthy populace by and large because we overeat and what we eat is crap. Fat asses in this country are skyrocketing our healthcare costs along with many other things. And now that they have achieved the majority we now have an entire movement claiming that obesity is a healthy lifestyle.
On the other hand, we are moving towards a place where choices are going to be more and more limited "for our own good" which is evil. And "inflation" will be used to do that.
On the other hand, we are moving towards a place where choices are going to be more and more limited "for our own good" which is evil. And "inflation" will be used to do that.
I don't really see the issue here.
If a restaurant raises prices and/or lowers quantity and/or quality, the customer can respond by no longer supporting that restaurant. If there aren't any worthy substitutes, they can choose to not eat out at all (or as much).
Seeing the continued popularity of food delivery services, it appears that most people really don't care that much.
If a restaurant raises prices and/or lowers quantity and/or quality, the customer can respond by no longer supporting that restaurant. If there aren't any worthy substitutes, they can choose to not eat out at all (or as much).
Seeing the continued popularity of food delivery services, it appears that most people really don't care that much.
Last time I read up on this these services they were not doing well, financially. The costs baked into this are astronomical. It's insane what we pay when we have food delivered.Diggity said:
I don't really see the issue here.
If a restaurant raises prices and/or lowers quantity and/or quality, the customer can respond by no longer supporting that restaurant. If there aren't any worthy substitutes, they can choose to not eat out at all (or as much).
Seeing the continued popularity of food delivery services, it appears that most people really don't care that much.
We no longer use them unless we are just in a bind and have nothing to cook or don't feel like leaving house. Rare.
consumers can absolutely respond by not eating out as much, or changing restaurants, etc. It was simply more anecdotal evidence of the topic of the thread, which is shrinkflation.
In my very specific scenario, my wife and I along with my three very young children could generally split two plates of enchiladas for about 30 bucks all in. To get that same quantity of food at that same restaurant would now be closer to 50 bucks.
In my very specific scenario, my wife and I along with my three very young children could generally split two plates of enchiladas for about 30 bucks all in. To get that same quantity of food at that same restaurant would now be closer to 50 bucks.
Jeez it looks like a few people completely missed the purpose of this post. Shrinkflation is not just about food products. That was one scenario. It is in everything. Why does it matter? Idk I guess I don't like paying more for less….
Bingo
I agree with you. It sucks and I don't like it.Outdoorag011 said:
Jeez it looks like a few people completely missed the purpose of this post. Shrinkflation is not just about food products. That was one scenario. It is in everything. Why does it matter? Idk I guess I don't like paying more for less….
I guess one potential unintended consequence that could be positive is that maybe sloths will eat less. In reality, they will just order 2x of everything so they can still eat 4000 calories per meal.
the data is a couple months old now, but Uber Eats was reporting 20%+ revenue growth YoY.YouBet said:Last time I read up on this these services they were not doing well, financially. The costs baked into this are astronomical. It's insane what we pay when we have food delivered.Diggity said:
I don't really see the issue here.
If a restaurant raises prices and/or lowers quantity and/or quality, the customer can respond by no longer supporting that restaurant. If there aren't any worthy substitutes, they can choose to not eat out at all (or as much).
Seeing the continued popularity of food delivery services, it appears that most people really don't care that much.
We no longer use them unless we are just in a bind and have nothing to cook or don't feel like leaving house. Rare.
This. Not sure how the bigger ones like Hello Fresh or Blue Apron are doing... But I've used Freshly off an on and they just suddenly announced with about a months notice that they were closing up shop.YouBet said:Diggity said:
Last time I read up on this these services they were not doing well, financially.
edit: messed up the formatting on the quote. whoops
A few weeks ago wife and I were thinking about how there are many products in which the size of the package is ingrained in people's minds; a gallon or 1/2 gal of milk, a 12 oz can in 6 pack or 12 pack, a pound or 3lbs of ground beef, a pound of noodles, 12 pack of eggs (though there are different sizes), etc.Quote:
How small can packaging get before the average joe actually starts to realize?
Interestingly, all of these items are still that size. I think it would be a really big risk for a single manufacturer to try and shrink these items, because 100% people would notice.
Then you have all the other stuff in the store; cereal boxes, notorious for having no standard, as well as regular, giant size, family size, etc which vary across kelloggs, post, etc. This goes with chips as well.
Cans of items like tomato sauce, beans or veggies.. lots of variation there though +/- 15oz seems to be pretty standard for the 'regular' size. Then something like a box of frozen waffles or pop tarts.. sure there are still 8 or 12 or whatever, but who knows if the weight has reduced slightly over the years, same with sliced cheese, hot dogs, or granola bars.. sure the quantity is the same, but has the weight reduced over time?
It makes you wonder why or how some items got to be so closely associated with the weight/volume, and why manufacturers didn't vary those things early on to make it easier for shrinkflation.
Then you go look at your bottle of simply or florida's natural OJ, and see it's only 52 ounces.. a solid 20% less volume than the store brand which is 64oz, making you realize it's actually even cheaper than you think.
I guess I don't agree with the "its not talked about NEARLY enough" point. Seems to me shrinkflation and inflation just go together hand and hand. And in reality, shrinkflation is captured in inflation data, just passed onto the consumer slightly differently.
htxag09 said:
I guess I don't agree with the "its not talked about NEARLY enough" point. Seems to me shrinkflation and inflation just go together hand and hand. And in reality, shrinkflation is captured in inflation data, just passed onto the consumer slightly differently.
I dont think most consumers notice shrinkflation like they do rocketing prices.
Agree to disagree. Do some not notice it? Absolutely. There are also people who wouldn't notice the price of eggs has gone up if it weren't for the news and social media.
My point is shrinkflation is accounted for in the cpi. Not like you can shrink the size of a loaf of bread to sneak past inflation.
And with the levels of inflation we are at, people who wouldn't normally notice grocery bills going up or running out of food quicker are now paying more attention. If nothing else, it makes it easier for them to ***** about politicians or greedy corporations and rich white men.
My point is shrinkflation is accounted for in the cpi. Not like you can shrink the size of a loaf of bread to sneak past inflation.
And with the levels of inflation we are at, people who wouldn't normally notice grocery bills going up or running out of food quicker are now paying more attention. If nothing else, it makes it easier for them to ***** about politicians or greedy corporations and rich white men.
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Just look at goldfish. They've jacked the prices up and shrank the amount you get per bag. But the bag itself hasn't changed.
completely disagree that shrinkflation is accounted for in CPI. i would be interested in any info/data that supported that theory.
ac04 said:
completely disagree that shrinkflation is accounted for in CPI. i would be interested in any info/data that supported that theory.
https://finance.yahoo.com/news/shrinkflation-amid-food-inflation-is-just-like-a-magic-show-expert-162827304.html?guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAAiGnvisrs2tgd2m6ZqPGxcvotWoYmGfmyt6q-4eL5g9vu26kraMiEN-dVaqCgmAezRipUmNhoUBmgc-qMxTPrZjy2cgPKiYoy6Y1vKmNFf282m6BHgbNg-KiiZMRo0VCP3wO8NmNt32j0twHyCjM0v6siscV4-vo6b_iad9YWcT
Quote:
In July, the cost of groceries increased 13.1% compared to last year, according to the Bureau of Labor Statistics' (BLS) July Consumer Price Index (CPI). In addition to tracking prices, the BLS also monitors "shrinkflation" when the price of a product stays the same (or rises), but its package size gets smaller.
But according to the BLS, shrinkflation is a type of price increase. "That's something we track and account for," Steve Reed, an economist at the BLS told Yahoo Finance. For example, when looking at the "pricing a 64-ounce [container] of orange juice and we try to price it and it's only 59 oz; maybe it's the same price, but for 59 ounces instead of 64 ounces, that'll be computed as a price increase."
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Sea Speed said:htxag09 said:
I guess I don't agree with the "its not talked about NEARLY enough" point. Seems to me shrinkflation and inflation just go together hand and hand. And in reality, shrinkflation is captured in inflation data, just passed onto the consumer slightly differently.
I dont think most consumers notice shrinkflation like they do rocketing prices.
There are still some consumers who are simply oblivious to prices.
My mom is one of them, she don't pay the bills and dad has auto pay on credit cards so I don't think he notices much either.
Case in point I was at store yesterday and the bread we get was buy get one free. Said it right on the price tag. No coupon needed, just need Kroger card/account, which of course is free and I feel most people have that.
I grab two, then a 30 something lady walks up next to me and grabs one and walks off.
I'm sitting there thinking, who wouldn't take a free one??
Someone who doesn't look at price tags is my guess.
Pretty sure we bought the same bread this week.
that's a nice idea but i don't believe they are actually doing that. the numbers are completely cooked and this would be an extremely convenient one to discount or "accidentally" miscalculate. at one point the BLS told the washington post their ability to track shrinkflation was limited by the pandemic, so even if they were trying to track it they likely missed 1-2 years of it.
A BLS economist saying they track it is a nice idea?ac04 said:
that's a nice idea but i don't believe they are actually doing that. the numbers are completely cooked and this would be an extremely convenient one to discount or "accidentally" miscalculate. at one point the BLS told the washington post their ability to track shrinkflation was limited by the pandemic, so even if they were trying to track it they likely missed 1-2 years of it.
I get in general the government sucks and is inefficient. But a large portion of my job is researching, identifying, and tracking a variety of indices in multiple countries. The BLS is pretty good at it. Just about every large corporation uses them, multimillion dollar deals are benchmarked with them. A big reason for this is that historically they've been reliable and accurate. This just simply wouldn't be the case if the data behind them was as lazy and vague as "a bag of chips".
Is the system perfect? No. But neither are paid for private indices. Was there likely some inflation and shrinkflation missed? Yes. They also have different challenges such as completely changing packaging or the actual contents (not just the size of the contents) to get away with smaller/cheaper portions.
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