One of the hottest words in 2021 is "shrinkflation," and it's where consumer companies cut product sizes instead of raising prices. Either way, consumers pay more.
According to consumer guru Ed Dworsky of MousePrint.org, more items are falling victim to this.
Remember all the warnings earlier this year that paper towels were supposed to go up in price this summer? Prices stayed relatively the same, but producers shrunk their products, according to MousePrint.
Items getting smaller in 2021
Other examples include:
- Bounty paper towels: The triple pack has shrunk from 165 sheets to just 147
- Costco's toilet paper: A large pack was 425 sheets last year, but is 380 now
- Dial Body Wash: Reduced from 21 ounces to 16 ounces, a 25% reduction
- Ziploc freezer bags: 54 bags last year, but just 50 bags this year
- Quaker Instant Oatmeal: 10 packs last year, but 8 this year for some varieties.
Family size can hide smaller box
There are also some cases of shrinkflation that make consumers think they are getting more, when really they are getting less.
According to MousePrint, family-size boxes of Cheerios have shrunk from 20 ounces to 19, the equivalent of a 27-cent price hike.
People see "family size" on products and think they are getting more than before, but really they are getting less. And that stinks.
Bottom line, don't just look at prices of your favorite brands, but sizes as well, so you don't waste your money.
Don't Waste Your Money" is a registered trademark of Scripps Media, Inc. ("Scripps").
Follow John on Instagram @johnmataresemoney
Follow John on Twitter (@JohnMatarese)
For more consumer news and money saving advice, go to www.dontwasteyourmoney.com