Shrinkflation: What It Is and How to Combat It

Have you ever noticed that your favorite snacks seem to run out quicker? That's shrinkflation in action - where companies reduce the size of products instead of hiking prices. It's a sneaky way to make you pay more for less without realizing it. But don’t worry, there are ways to fight back.

First, always check the unit price. This tells you the cost per ounce, liter, or other units, allowing you to compare products fairly. Studies show that 78% of shoppers use unit prices when available, but they’re not mandatory in many places. If your store doesn't display them, you can calculate them yourself: divide the total price by the amount in the package using your smartphone's calculator.

For instance, let’s say you’re comparing two brands of cereal. Brand A costs $4.50 for 16 ounces, which works out to $0.28 per ounce. On the other hand, Brand B costs $5.00 for 20 ounces, which equals $0.25 per ounce. Despite Brand B having a higher total price, it actually offers a better value per ounce.

By calculating the price per unit, you can compare apples to apples, no matter how they’re packaged.