Survey: Shoppers noticing 'shrinkflation' more frequently
Consumers are noticing less bang for their buck at the grocery store in a number of product categories.
According to a LendingTree analysis of nearly 100 products, a third of the items have decreased in package size from 2019 or 2020 to 2024. Consumers are taking notice of this “shrinkflation,” with 71% of Americans reporting experiencing or noticing at least one incident in the past year.
Nearly six-in-10 (57%) Americans say they’ve experienced or noticed multiple incidents of shrinkflation in the past year. LendingTree found that baby boomers (70%) are much more likely to report noticing multiple instances of shrinkflation in the past year than Gen Zers (48%) and millennials (54%). Eighty-seven percent of Americans who’ve noticed shrinkflation agree it’s becoming more common, and 66% say they’ve stopped buying products because of it.
“People are already frustrated that things cost more,” said LendingTree chief credit analyst Matt Schulz. “Shrinkflation just adds insult to injury. It all adds up to a lot of Americans feeling squeezed every month to afford the basic things they can’t do without.”
[READ MORE: Survey: Most consumers say price more important than brand]
Of the 98 products analyzed by LendingTree, household paper products saw the highest rate of change. The study found that 12 of 20 (60%) household products reduced their sheet count over the analyzed period. Twelve mega rolls of Angel Soft toilet paper decreased significantly, shrinking from 429 sheets a roll in 2019 to 320 sheets in 2024, a 25.4% reduction in size, which was the highest across the household products analyzed. While the cost of 12 Angel Soft mega rolls has dipped from $9.97 to $8.44, its price per 100 count increased from 19 cents to 22 cents, meaning consumers are paying 13.5% more per 100 sheets.
After household paper products, breakfast items were the most likely to shrink. Of the 16 cereals analyzed, seven (or 43.8%) downsized between 2019 or 2020 and 2024. Family-size Frosted Flakes shrank the most (9.6%) per ounce from 24.0 ounces to 21.7. Next, family-size Raisin Bran dropped 7.9% from 24.0 ounces to 22.1. Finally, family-size cinnamon oat crunch Cheerios decreased by 7.7% from 26 ounces to 24.
For snacks, six of 22 (27.3%) products analyzed shrunk. A 36-count of FunPops freeze pops downsized by 20.0% from 90 ounces to 72. Meanwhile, a party-sized bag of Lay’s sour cream and onion potato chips shrunk by 15.3% from 14.75 ounces to 12.50 and a party-size bag of Cheetos decreased by 14.3% from 17.5 ounces to 15.0.
In the candy category, five of the 13 (38.5%) items analyzed changed size. Party-size Reese’s miniatures and party-pack Rolo chewy caramels decreased the most, both at 11.0% from 40.0 ounces to 35.6.
LendingTree noted that while shrinkflation means reducing a product’s size without increasing the price, its product analysis explores size reductions and price increases separately. Just two products it analyzed experienced a price decrease between 2019 or 2020 and 2024.
Across all Americans, 90% surveyed believe companies should clearly label when they reduce the size or quantity of a product, with 66% believing it should be mandatory regardless of the changes made. Also, If they had to choose between the “shrink” and the “‘flation,” Americans would prefer that companies raise prices, at 38% versus 28%.
“Businesses know that customers don’t like when prices go up,” added Schulz. “Shrinkflation is a sneaky little way around that. Rather than bumping up the price of something, businesses make the product smaller while keeping the price the same. If done smartly, customers may not even notice. However, the problem is that when they do, it leaves the customer with a bad taste in their mouth because it feels so deceptive.”
LendingTree's researchers compared Walmart prices and product sizes from 2019 and 2020 to 2024. Current prices were collected from Walmart’s website in August and September 2024.
LendingTree commissioned QuestionPro to conduct an online survey of 2,040 consumers ages 18 to 78 from Sept. 3 to 5, 2024.
The full survey can be found here.
