‘Shrinkflation’ may be shrinking your wallet more than you realize
PHOENIX (AZFamily) — Shrinkflation is slightly less obvious than a good old-fashioned price hike, but consumers are seeing and feeling it.
A recent LendingTree survey shows 71% of people have experienced ‘shrinkflation’ in the past year, spending the same amount of money or more for a product that has gotten smaller over time.
The survey also reveals that 66% of people who’ve noticed ‘shrinkflation’ have stopped buying a product.
“We found that people would actually prefer businesses to raise prices a little bit, than to shrink the size and keep the price the same, and I think some of that is just about being above board and being transparent,” said LendingTree analyst Matt Schulz.
There are numerous examples of ‘shrinkflation.’ LendingTree recently evaluated 98 products, from paper towels to candy and cereal, and discovered one-third have gotten smaller, comparing 2019 products to products in 2024.
“Where we found the most decreases in size were actually household paper products, so things like paper towels and toilet paper,” said LendingTree analyst Matt Schulz.
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