Founder of Food Distribution Guy, Entrepreneur, Food Industry Consultant, Author, Podcaster, Mentor and Food Judge
Shrinkflation is a terminology that dates back to the late 1700's. It has reared it's ugly head dating back to the start of the food inflation wars. Even President Biden mentioned it during his state of the Union this year. Mintel wrote a great article titled: "Understanding Shrinkflation and Effective Marketing Strategies for your Brand". As part of their article they revealed: 1. 50% of UK shoppers would rather see their chocolate bar get smaller than the price increase. 2. Over 4 in 10 Canadians open to smaller sizes if it keeps prices under control. The industry as a whole must do a better job in explaining this strategy to consumers as the other 2 choices brands face are far worse: 1. Pass the full cost onto the consumer, or 2. Discontinue the product, and in most cases go bankrupt.
