5 everyday products that have shrunk in size, thanks to shrinkflation

You might have barely noticed at first that though your everyday products cost the same, they are shrinking in size, a bit at a time. Be it your Parle G biscuits or Vim liquid, so many companies are following the 'shrinkflation' trend. But what is shrinkflation exactly and why is it happening? Also, what does it look like in real life? Here's the story:

It's a rainy Saturday afternoon, and you and your sibling have just walked out of your local Dmart store after shopping for some snacks and drinks. You got your regulars for 500 bucks: Chocolate Oreos, dad's Parle G biscuits, spicy Doritos, and some cans of Diet Coke and Sprite. But once each packet is opened at home, something seems wrong. 

@wahh_massa you were not lying oh, this people have reduced the size of Parle G pic.twitter.com/fk1BR2oSYt

— Bright Eyed Honey Dara???????? (@PefectSeven) June 9, 2022

The Parle G biscuit seems like a scam, your Doritos packet got empty in 4 minutes (normally this would take 6 minutes) and your can of Coke can barely satiate two tiny glasses of servings, let alone a tiny third. So what just happened? Did you suddenly just become a bakasur from Ramayan? Nope. You just became a victim of shrinkflation - an economic phenomenon and a legal business tactic. 

WHAT IS IT? 

Shrinkflation is the practice of reducing the size or quantity of a product while keeping the same price. The volume of goods is done by:

1. Reducing the grams per packet or
2. Reducing the number of items in a packet (7 biscuits instead of 8) or
3. Lighter packaging

Though the price of the packet seems the same, it really increases the price per unit. 

SOME CONTEXTUAL BACKGROUND

Well, inflation is sparing no one - prices of all raw materials, from soaps to toothpaste and detergents, have risen globally. Thus, it is becoming increasingly difficult for businesses to keep costs down, profits up and the quality top-notch. Also, companies can only hike their prices to a certain extent, lest they lose their loyal customers (and their market share) to other competitors. So what do you do? Go the mid-way by holding the same price on their product and giving customers a lesser volume of packaged goods. 

5 PRODUCT CATEGORIES THAT ARE SHRINKING  

1. TOOTHPASTE

2. YOUR FAVOURITE CHOCOLATES, BARS & BISCUITS 

While a packet of Parle-G biscuits (Rs 10) weighs 110 grams today instead of 140 grams since the Q4 of FY 2021-22, Cadbury has shrunk the size of its Dairy Milk bars by 10% without reducing the price. 

Twix & Oreos have suffered a similar fate. 

3. SNACKS 

Pringles and Doritos have witnessed this trend for over the last 6 months and the Russia-Ukraine war has just worsened this crisis by reducing the availability of grains.

4. DETERGENTS 

Hint: Look at the no. of loads you can wash (from 107 to 100)

and the size of the bottle..

5. SHAMPOOS 

WHY IS THIS HAPPENING & WHAT TO DO?

As per Indian Express, price-sensitive customers who buy products in smaller quantities, are more prone to receive less for their spending since size-reduction typically happens in the lower unit packs. That is because major Indian brands attribute their wide market share to their large rural customer base, and a price increase of more than Rs 20 does not work for them. Thus, they can only 'downsize' the product and reduce grams per pack to bring down input costs and maintain reasonable prices. 

The Ministry of Consumer Affairs has made it mandatory for companies to display prices per gram, per kg, per ml, and per liter starting October 2022. Till then, you might have to keep using your phone calculator to find the price per unit and get a good deal out of your purchases. Also, maybe avoid the smaller packets and get those larger cans to last longer?