Consumers push back on shrinkflation - but what can be done?
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- Опубликовано: 13 сен 2024
- From cereal to detergent, shrinkflation is giving you less for your money. Frustrated consumers are pushing back against the tactic, but what can be done to tackle the issue? NBC’s Christine Romans reports for TODAY.
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#shrinkflation #economy #money
They say you have a "choice" but all these choices are all owned by the same few parent companies...😂
That part.
EXACTLY! With all the mergers and acquisitions that have happened in the last several years, the number of different food companies and retailers has dwindled point where there isn't any competition anymore. And no competition means higher prices.
We need to stop this merger madness and start breaking up these huge mega-corporations so that some semblance of competition and a free market can be restored.
It's extortion
It's already too late.
It's all crap. If food manufacturers just kept the contents the same and adjusted the price accordingly, you'd really crap your pants. FACT IS, government creating money out of thin air and spending it on bombs and payoffs to Ukraine, is causing inflation throughout the worlds economy.
I would like to see all the politicians try to live on $20 a day like most of the country does
Maybe then they’d actually get something done
You can always increase your skill set, earning power, and wealth with proper money management strategies. No one's stopping you except yourself, your life choices, and your pathetic excuses...
@@Chad_Max I can't wait until you finally have to get A job. So you can join us in the real world
@@Chad_Max I want everybody that keeps suggesting all this to just stop. Some people like the job that they’re doing, they don’t wanna learn new skills. People should be able to make a living at whatever job they do. We don’t need everyone to be engineers, doctors, or somebody with advanced degrees. We need just every day, working folk out in the population, able to live a life affordably. Stop supporting this is annoying. Every single comment section says this. But 30 years ago you used to be able to live with a job that you got out of school without having a constantly learn new stuff and move up in a company. That’s another thing a lot of people don’t want to manage people they just wanna go to work earn a paycheck and live.
@@Commonsenseisnotcommon8 The focus in the understanding needs to shift to PRODUCING. In the end, you get paid for how much you PRODUCE for other people (consumers, customers, neighbors). You can do that from right where you are and it doesn't take any more formal "education." You can do it from home, on weekends, in the evenings ... whenever.a But, if you want more income, you have to PRODUCE more. Either goods or services. A product or a service (like elder care or doing taxes for people). It always comes down to increasing the amount of GOODS or SERVES that you sell. You don't even have to "manage" people, either. If you ever want to scale up with your GOODS or SERVICES, you can hire somebody to do the "managing people" for you. Buy you still have to PRODUCE more. This naturally always means more time, energy, and self-initiative devoted to PRODUCING more GOODS and SERVICES for OTHER PEOPLE. Regardless. This is as basic and economics can ever get.
Henry Ford, the richest man in the world during most of his life, was not a college graduate. But he PRODUCED millions of products for OTHER PEOPLE (that they wanted and were willing to pay for).
This is why I stopped buying snacks it’s full of air
Bag of chips 70% air 30% chip
25% Groceries. 180% Utilities. 220% Insurance. Wages: ????
-10%
VOTE BIDEN AGAIN
The US went downhill since the 2020 Election. Unlike European countries, we didn't have a massive energy cost spike.
You get what you vote for
I got a 2% raise this year at Target. $0.31/hour. Last year, my 3% raise was $0.30/hour 🫤
Companies that are making record profits are blaming labor costs on the rising prices, but these people making these wages are not seeing any raises. You continually can't find service in stores and you check yourself out as you leave. What labor costs? They are gaslighting us!
true, its not like the delivery men or the retail workers are all making 30-40 an hour, most are making 15-20 at the very most, ' company costs 'is an excuse.
I don't eat fast food, anymore. That alone has saved me significant money that more than makes up for the cost of higher groceries. I've also eliminated my cable, saving $110/month.
Small changes make incredible differences that quickly add up.
What else can you cut as these greedy corporations keep increasing their prices and profits? Healthcare? Pension? House? What next?
@@Jzak25 NO car payment. Don't ever have a car payment. (ramsey method of NO DEBTS)
Go to Russia, money goes farther there. Biden devalued the dollar.
@@Jzak25 If you can get into a house of your own, it's actually a very good investment
I'm about to cut my cable also for basic it's now 160 a month in the kansas city area. I don't have problems paying any of my bills, but it is just not worth the price, in my opinion.
McDonalds is starting to feel that pulling back from their consumers.
They will just cut corners, make them smaller, and source cheaper (foreign) ingredients. In their place, what would YOU do? Use the Golden Rule.
Good
It is hundreds of OTHER companies, your too focus on one, NOT the big picture!!!
Serves them right for them pinching the bottom of the fry box so you end up with half a box of fries!
Stop paying CEOs hugh salaries
People can decide with their wallets whether to buy these items. If enough people do this, companies will eventually see that consumers will not buy their overpriced shrunken products.
This won't work in the way that you think. When a product doesn't sell, they don't drop the price. They stop producing it...
@@Chad_Max They aren't going to stop producing products that have historically brought them record profits.
Many products on the market are produced by the same corporation. While you may choose one brand over another, they still get your $
Or vote out the problem
You are correct!
Price Will never go down.
The problem is that consumers DON'T have a "choice". _Everything_ is going up in cost and going down in size.
And food producers and retailers keep merging, resulting in fewer producers and retailers, which means less choice and less competition -- and higher prices.
We need to stop the merger madness and start breaking up the huge conglomerates in order to restore a competitive, free market.
Wait till the ten egg cartons appear that are the same size as a 12 egg carton. You won't have to wait long.
Why are people complaining? My bag of air comes with free chips!
That's the spirit! Did you enjoy those 3 single potato chips in your bag of air? I sure did but not enough to buy more
Sometimes it has a great sour cream and onion smell too!
Now that's funny!😂😂 (Seriously)
Greedflation is Shrinkflation
Its not greed. I'm surprised at how people still don't understand this. Inflation does two things, it drives up the cost of goods and services and also devalues the dollar. If you're a company, this means that it will cost you more to produce the good or service that you're providing and your profitability will be less for doing so. In other words, you need to raise prices and or reduce output to keep increasing your market cap against the inflationary pressure. So these "record profits" that you're hearing about all over the news that companies are posting only tell 1/2 the story which is yes the numbers are higher but against an inflationary environment. But the media and politicians don't want you to do any critical thinking and instead latch onto buzzwords like "greedflation" or concepts like "CEOs are overpaid." This is why bad leaders with poor fiscal policy create a damaging effect on the economy that takes years to correct. We've had 10 years of inflation within 3 years under this current administration...
I call BS😅
I see a lot of Americans going on a diet and giving them the middle finger.
Correction - there is hardly a 'free market' left ! Corporate consolidation, which should be stopped by government, has yielded very few players per industry category. When one raises prices, so do the few others in the category...collusion? - no mater, there are no companies left to compete on price, quantity, or in any other way. "Big business" raises prices at will, shrinks package size at will, and reaps MEGA PROFITS FROM THOSE ACTIONS. They do not merely keep pace with inflation or supply issues, etc. - if that were the case, their profits would stay the same after these 'adjustments'. Wake up people! We are being royally RIPPED OFF ! ...And we keep buyng and paying! Let's stop buying for a while. We can do without the overpriced items...we won't starve or suffer. People have more power than recognized. Let's show them!
Sure. Problem is, the former Republican party - now the Trumpist party - has been telling people for decades that government's regulations are evil. That business needs ""freedom"" to thrive. And they still control the Senate.
So, it isn't that easy as saying the government should do something, unless you vote accordingly, which will be as much or more effective than boycotting snack brands.
Which companies are making MEGA PROFITS FROM THOSE ACTIONS? I'll buy their stock!
@@yicu3453 Nice try, Kid. Answer the question.
Leave it set on the shelf. If you dont buy it they will fix it!
Don't buy it. Stick to basic standbys. Beans, rice, ground meat, produce. It's hard to walk past some expensive products like the snacks and stuff, but you have to close your wallet on these companies who have such overpriced stuff in small packaging. They will get the message when the consumer turns off the money flow on them.
A lot of that rice, especially from Thailand, has arsenic in it, so you have to do your homework on ALL food and ingredients that you buy. All ocean seafood has MERCURY in it now and 70% of the frozen seafood comes from communist China. I quit all tuna more than twenty years ago.
$8 for ground chuck. The pork shoulder roast I bought is less per pound. I think companies caught onto the ground meat.
This cannot fool people; we started cooking during the 2020 pandemic and now in Feb 2024 the same food costs 30% more. They might not be staple like dairy/grain but the fresh produce, protein, and the par cooked beans are going crazy...then you look at the processed food, they are 40% more. But hey if you buy two packs, you get 5% back to you.
This may not apply to you, but if you live in an area that has some local agriculture like small farms, you might want to look into shopping for produce there. I signed up for a CSA subscription with a local farm and it has saved me hundreds. I have a couple of family members that now shop for produce at local farms in the suburbs where they live as well. Best of luck!
“Company costs are high”. Nah, wanting to squeeze the most from consumers while giving less to increase profits are high. Since the dark ages of the pandemic companies are singing the same excuse of “supply chain issues”. Ummkay 🙄
Maybe the company’s that don’t shrink their products should advertise it to get more sales. It will force the other companies in line. Consumers have the power when the shopping patterns change.
That’s hard to do when a few parent companies own all the brands you see in the store. Choice is an illusion in this country.
@@CHRISBUSCUS01 you are right but we need order and a system to deal with petty disputes and bigger ones. Takes control to do that and we need it. Allows us to have fun find friends partners and start lives. It’s called sucking it up but yeah this shrinkflation is robbery.
how about the Govt STOP printing money!
What can be done?!? How about stop eating crappy foods and don't drink alcohol or sugary BS. Chicken, pork, fruits, vegetables and most whole grains are still relatively cheap. So is filtering your own water.
And grow some of your own food in the backyard or even in buckets on a patio. Such tips as from All My Secrets of Organic and Container Gardening So Far got me started and I always have at least a few perennial things to eat in the backyard now at all times, even in winter (a few hardy greens like kale). I'm using two raised beds (from Australia, not China) to make it easier on the back.
I'm still baffled that people waste so much money drinking bottled water at home. Use a glass and a pitcher.
Blame the politicians for policies which raise the costs of production. Someone has to pay for Ukraine, and that is you.
🙄
Why can't they pay for the war they obviously have money 😤
Shrinkflation - because Americans are willing to spend $3,000 for a non-essential product
Probably charging it on a credit card.
Nope, not a factory mistake folks... welcome to the new normal! (It's not just 'shrinkflation' but they are replacing natural ingredients with the cheapest chemical ingredients now... cocoa butter is replaced with cheaper vegetable oil, sugar is replaced with cheaper Fructose, cream is replaced with cheaper powdered milk, etc., etc.)
Companies that are making millions, even billions, dont NEED to raise prices because if they didnt raise prices they would still make millions and billions. If a company made $70m one year and the next year made only $60m, its ok, they still made $60m dollars. If they cant be happy with only 60 instead of 70 then thats greed for money.
I call it greedflation, because that's what comes down to, greed.
Yeah, consumers have a "choice" to starve.
Leaving all that air in potato chip bags. More air than food in many of these packages.
Just sit in your house and buy nothing.
I’ve been buying Huggies wipes for over 25 years. You always notice smaller amounts in tubs, refills etc.
Nope greed will always win
I see more lower amounts and higher prices at the grocery store.
For starters I'll never go to McDonalds again as long as they continue to do the pinching the bottom of the fry box trick so you end up with only half a box of fries. Let's go back to the good ol' days of Super Size when you truly felt like you got your money's worth!
Not mention it is basically $2.25-$3.00 for one of their tiny hash browns anywhere in the country. That's insane.
Same price, smaller amount. That's a false statement.. More like Higher price, smaller amount. I stopped buying certain items after noticing the difference.
i stopped going to dollar tree cause they shrunk down the products and raised the price so its no longer a deal, boycott dollar tree
People do need to calculate cost per serving everywhere and especially at the Dollar Tree! I also see people waste cash on decorations and cheap trinkets at Dollar Tree. $25 wasted is $25 but somehow people feel it is value for money. The money is more valuable in my pocket.
There napkins shrunk in size and went up .25. I used to always by the $1.00 200 coins napkin. Now I thin’ it is a 150 count for 1.25
Forecasts mean nothing when recently, they're been wrong. Food inflation and or inflation increased with an uptick in both December and January. And very few news outlets are covering that.
A can of Arizona never changed its price for 20+ years
Tropicana Orange Juice, Gatorade & Kraft Dinner are the worst offenders.😂😂
Shrinkflation is simply dishonest.
Maybe that's why stock markets continue to rise. They spend less to make the product, so their net profitincreases. People have to g3t smart and stop buying. Only the things they really need, and the cheapest deals out there
The antithesis of shrinkflation is costco/Sam's club... I just bought an 8lb bag of ore Ida French fries there for $9
10 pounds bag fresh potatoes on sale for $3 in my area. Baked potato, French fries, Swiss Rosti, etc. Agree you big bag of fries much cheaper than from grocery store
@@happycook6737 I buy ORGANIC potatoes only and make my own fries or baked potato. If you don't, you can't safely eat the peelings because the peelings soak up more of the fungicides (pesticides) that are used today on potato fields. I'd rather pay more for the organic. I won't buy ANY frozen potatoes that are made with COTTONSEED OIL! Not ever.
Doesn't Ore Ida use COTTONSEED OIL in their processing of those fries? "May contain..." No thanks. I check all ingredients and will never, ever, ever buy any potatoes that use cottonseed oil on them.
@@davidb2206 there's no such thing as a healthy French fry... go lecture someone else...
Make note of who's shrinking products and stop buying from there. CEOs will only change when they stop making record profits.
I’ve been saying for years that it should be a requirement for anybody running for any federal or state office in the US to live on $28,000 a year for a full year before they’re able to run.
You forgot the quality sucks!
We need to push back. Another thing I hate is a manufacturer raising the price per item 33¢ and then placing a coupon in or on the package for $1.00 when the customer buys 3 of the item. They want the customer to think they are saving on the purchase when actually there is no savings. They raised the price to cover the coupon! 😠
Why do people keep saying it is same price? Prices are skyrocketing!!!!!
Imagine picking up two cans of shrinkflation products and accidentally banging them together really hard denting the cans, or bag products that have shrunk, accidentally crushing the product or accidentally popping the bag open.
at this point a reset is inevitable
What does a reset consist of?
The reset already happened unfortunately. These are the ramifications.🙄 Even though shrinkflation was already a thing it just seems to be at warp speed at this point. Along with overall rising costs.
5 companies control the food supply don’t play stupid with me
"The American people are tired of being played for suckers". Yeah, tired of you, Joe. You have left this country much worse than when you took office.
Hey genius, the president doesn't set the price of goods and services. The people who sell said goods and services do.
@@85jongo You're right. Businesses are to blame for all of this. The president isn't responsible for anything. Go smoke another one, bro.
For snacks I am focusing more on fresh fruits and vegetables now days. Yes it's not cheap but if you watch the sales and are flexible you can buy it reasonably. Instead of potato chips? I buy cucumbers slice and sprinkle a little salt on them. Still get that crunch and salty taste and better yet during the summer I can grow them for free. I don't buy cookies at the store I make my own. Same with candy. If you look up the recipe for Buckeye Bars? So easy and better than Reese's peanut butter cups. I buy in bulk now days too even though I am single. I just bought a gallon of Ranch Dressing yesterday expiration date? Nov 2024. The equivalent of 8 16 oz. bottles of Kroger Ranch Dressing at $2.49 this week, my cost? $1.35 per bottle. I have 16 oz. canning jars when I opened that big jug I will divide it out and put it all in the back of my refrigerator I saved $9 something doing this. I noticed Aldi's raised their price of powdered coffee creamer alot.. I checked Sam's Club, Nestle brand powdered coffee creamer per ounce was the same size so I bought it there, while not a savings if I'm paying 20 cents per ounce for either, I'm going to the name brand. They do have a Online Order at Sam's for a brand called N'Joy in packets 1000 packets-1 tsp each 2 cents a packet. You really do have to research your pricing units. And we all need to go back to the way our Grandparents lived because we didn't have all those convenience foods, they made their own potato chips and french fries. Work with your friends/family buy in bulk and share. I buy bulk Instant Oatmeal it cost even with shipping cost a little less than $1.00 per pound. Here lately in the evening when I'm feeling a little hungry? I make a 1 cup serving of oatmeal add some thawed frozen berries to it it's filling, easy to make in the microwave and a healthier choice. Best Wishes to everyone out there struggling, you can do this!! Anna In Ohio
Corporations make billions but give consumers little products with higher prices.
Just eat everything before you leave the store.
Please note this media puff piece ties into a Biden Campaign Commercial. Hey man, tell them to put the three potato chips back in the bag…. Tell the gas station employees to lower the price of gas…
I don’t see this going away any time soon probably stay for good,the main cause…? GREED. Companies still pulling in profit regardless what they say is impacting them smh
Wait, so if greed is the main cause of this, that must mean companies were somehow 35% less greedy back in 2019? Logic fail. Inflation is caused by an increase in the money supply.
Consumers don't matter. Shareholders do
Choice, not. 17 items at Aldi's which include 5 gallons of water was $70. No meat just bare minimum. 4 years ago that would have been under $40
Y’all really trying to act like those politicians don’t work for the people who own these giant corporations causing all of this…
Shrinkflation is less insidious than skimpflation
The government can easily regulate this. Regulate prices. But they dont want to
CBA= Profits are the priority and if consumers don't like it you don't have to buy it.
Thanks joe
The president doesn't own these large multi-national corporations or set the prices, genius.
Stop buying stuff in the middle isles. It won't stop it, but it helps.
Bottom line , its corporate greed !
And record profits for the companies producing these goods-I wonder how they sleep at night
Play out less to CEOs and shareholders and I bet your costs would go down A LOT!
Just switch companies to ones with lesser quality and price but higher portions.
This is why I shop at 99 cent store, dollar tree and grocery outlet lol
Got a Baby Ruth candy bar out of a vending machine the other day. When I opened it, looked like the size of one Twix
Yup stopped paying BigMac prices and getting a slider. Done with fast food.
When Americans complain about the cost of a junk food…. Really?
Yea.. the whole shrinkflation is driving me insane too!!! I can’t believe how this stuff is shrinking (getting smaller and smaller… less in quantity). It’s just not enough anymore. It’s like what’s the point on buying it?! It barely does anything
And they act like you have 3 heads when the price comes out with tax. Sorry I'm just getting out of the house for a lil bit.
Its corporations that contribute to inflation
Groshery? It's like saying "WARSH". Stop it.
Are we going to get at the root cause? Federal reserve fiat fake money is to blame.
Corporations are to Blame! They have a near Monopoly on everything!
They would Sell us air if they could, oh wait 😂
But CEOs = Multinationals ..
Profits Are Always 🤑💸💸💰💰💰👏🏻👏🏻
Tax companies who raise cost per gram / cost per liter / cost per unit of their product by more than their actual input costs have risen
biden is to blame
Hey genius, the president doesn't set the price of goods and services. The people who sell said goods and services do.
@85jongo I guess some people 🫵 just don't understand that when they print money with nothing to back it the dollar loses value. May be just to difficult for underdeveloped minds to comprehend. It's ok, you're not alone
I think more channels promoting growing your own food and learning how to hunt would be necessities to make it cheaper for the consumer and help fight back against inflation.
Product cost = fuel costs + material cost + monthly wages + factory taxes + research cost + growth of business + or - national disaster or war impact
Material and gas goes up every thing goes up
yet corporations are raking in record profits, did their factories taxes go up or something? did cardboard go up in price? gas prices are not much worse now than a few years ago. look at price of crude. also what war or nat' disaster in the US is causing everything to skyrocket?
@@FordFalcon1962nBlue Russia Ukrainian war and Israel Homas war
@@FordFalcon1962nBlue droughts can cause food shortages and price rises
@@FordFalcon1962nBlue earthquake in Missouri can cause bridges in Mississippi River to collapse causing major reRoute
Atkins shrank my favorite sugar free candy bars and I complained and got $30 in coupons. Still obviously they won’t restore their product to its former size but please everyone that this happens to take the time to complain to the company like heck! This massive shrinkflation makes my blood boil!
Inflation, Inflation!!!! Who do we bash!!
Mandate companies list the per gram / per liter / per unit cost in bold lettering alongside the official price
This prompted me to make a contribution to Katie Porter's senate campaign. She gets it!
My boy, gallon of milk, staying strong and never changing it's size haha
Oh good! I'm glad this video isn't about what George Costanza experienced when he came out of the swimming pool.
You'll need to see a shrink for that one.
😂 But did the shrink, shrink?
Shampoo, soap bars, everything has shrunk. But higher prices.
Learn to do your own. Since the pandemic I haven't buy no shampoo, deodorant or toothpaste. I learned how to make my own, cheaper and healthier because I know what ingredients I am using.
Why doesnt the government stop this from happening....it takes a super simple law.😢
@gallopinggoose7997 if every company does it, are we eating grass? Got to stop it at some point.
A pint of liquor is not 16 ounces.🙄
Shrinkflation is leading to the store brands selling more than the name brands. 😉 Good & Gather Organic Ketchup? Yeah! Everyday Essential Natural Cheese 2 for $4? Yeah!
Vote with your feet.
I noticed this years ago,
FORCE them not to make a profit... problem fixed! Bring those prices DOWN!
nothing will happen
Just charge more money