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Industry Insight: Shrinkflation Versus Portion Control in Foodservice asks: is it a cost-of-living solution or will consumers feel shortchanged? The report looks at product reformulation, product redesign, strategic adjustments and value perceptions.
Shrinkflation is a term used to describe when the size or quantity of a product is reduced, but the price remains the same or even increases. Shrinkflation can be a result of several factors, including rising production costs (such as raw materials, labor, or transportation), economic challenges, or a desire to maintain profit levels in a competitive market. However, it can be seen as deceptive or misleading to consumers who may not notice the reduction in product size immediately, leading them to effectively pay more for less. Shrinking portion sizes is essentially a solution to higher foodservice prices2 but the difficulty lies in ensuring consumers remain satisfied. Yelp conducted a study based on consumer foodservice reviews which delved into inflation and shrinkflation. It is evident that certain cuisines are the most impacted by rising prices and reduced portions, which brands in these areas must acknowledge to ensure consumer sentiment remains positive during financial hardship.