While most Americans have been focused on inflation and what it’s done to their wallets, shrinkflation is also on the rise. Morning Consult’s Kayla Bruun joined TheStreet to explain what it is, and why it’s taking a toll on your trips to the supermarket.
FULL VIDEO TRANSCRIPT BELOW:
J.D. Durkin: Kayla, we've also been hearing a lot about the idea of shrinkflation help explain what that is and how it impacts the grocery trip.
Kayla Bruun: So the idea behind shrinkflation is that and anecdotal anecdotally, you did hear a lot of this as sort of a strategy that businesses were doing. But when costs are very high, but businesses maybe don't want to raise prices, what they've done instead is actually cut the portion size that they're serving. And it's a little bit hard to keep track of how prevalent this is. But there definitely were some instances that consumers have been noticing over the past few years. I would expect that now that we are seeing more mild inflation and businesses selling food are not necessarily under as much cost pressure, I would expect that we maybe won't see as much of that going forward. But of course, again, you never know if we do see another price surge on the cost side that they don't feel they're able to pass on to consumers, especially given how much they've already raised prices that certainly could be another tactic that they could look to do more of.
