'Shrinkflation' Is Skyrocketing, and Complaining About It Can Help (Seriously) According to a recent survey, 64% of consumers are worried about inflation -- and they're not putting up with it.
By Amanda Breen Edited by Jessica Thomas
Inflation's been rampant for months now, and along with it, another particularly frustrating phenomenon: "shrinkflation," an increase in product cost coinciding with a decrease in size.
Naturally, no one likes to pay more for less; according to a recent survey from Morning Consult, 64% of consumers are worried about shrinkflation, and they're not putting up with it. Edgar Dworsky, founder and editor of Consumer World, also shares a few ways to fight back, per CNBC.
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According to the Morning Consult survey, Gen Zers and millennials have had less exposure to news on shrinkflation, so they're slightly less concerned about it than their Baby Boomer counterparts. But only 25% of U.S. adults said they hadn't noticed shrinkflation in any grocery categories, and more than half of U.S. consumers believe snack items have been hit the hardest.
As defeating as it all might seem, consumers can do several things to save their wallets.
First, keep an eye on the size of your go-to products. "It's really up to shoppers to become more net-weight conscious," Dworsky tells CNBC.
If you realize you are paying more for less, consider purchasing competing or generic brands, as roughly half (48%) of consumers in the Morning Consult survey opted to do.
Finally, Dworsky also recommends lodging a good old-fashioned complaint with the manufacturer. It may not restore your beloved product's size, but it just might earn you some coupons for a future purchase.
Related: How to Calm Financial Panic During Inflation Surges
Go that route, and you might actually end up paying less for more than you've lost to shrinkflation.
