Nov 13, 2024 11:46 PM
https://www.eurekalert.org/news-releases/1064756
INTRO: Over three-quarters of surveyed consumers say they have noticed shrinkflation at the grocery store in the previous 30 days, according to the October 2024 Consumer Food Insights Report(CFI).
The survey-based report out of Purdue University’s Center for Food Demand Analysis and Sustainability(CFDAS) assesses food spending, consumer satisfaction and values, support of agricultural and food policies, and trust in information sources. Purdue experts conducted and evaluated the survey, which included 1,200 consumers across the U.S.
The latest CFI survey included questions about product information that consumers most look for when buying food at the store. The survey showed that 82% of consumers “often” or “always” check the price of food items before buying.
Fewer consumers “often” or “always” check for unit price (51%) or weight (44%). “The unit price and weight in particular are key indicators of shrinkflation. Without checking weight or unit price, consumers may not notice reductions in the quantity or value of their typical grocery products,” Balagtas said.
Most consumers (82%) thinkshrinkflation is a common practice used by food companies and 76% believe it is a result of trying to increase profits even when costs are not rising.
“It is interesting yet not entirely surprising to see this sentiment as articles about grocery prices, accusations of corporate greed and shrinkflation continue to circulate in popular news media,” Balagtas said. National Public Radio and USA Today, for example, both covered the topic in September.
“Our research on food values shows that price and affordability are among the top concerns for food shoppers, and one way for food manufacturers to reduce the price is to reduce the size of a product. But reducing product size could cause consumer resentment,” he said. Around 74% of consumers agree there should be requirements in place that make product size reductions more transparent to the consumer, such as prominent labeling.
Food satisfaction remained high among most American adults, with 69% of consumers classified as “thriving” on the diet well-being index. Food insecurity remained unchanged from last month at 13%... (MORE - details, no ads)
INTRO: Over three-quarters of surveyed consumers say they have noticed shrinkflation at the grocery store in the previous 30 days, according to the October 2024 Consumer Food Insights Report(CFI).
The survey-based report out of Purdue University’s Center for Food Demand Analysis and Sustainability(CFDAS) assesses food spending, consumer satisfaction and values, support of agricultural and food policies, and trust in information sources. Purdue experts conducted and evaluated the survey, which included 1,200 consumers across the U.S.
The latest CFI survey included questions about product information that consumers most look for when buying food at the store. The survey showed that 82% of consumers “often” or “always” check the price of food items before buying.
Fewer consumers “often” or “always” check for unit price (51%) or weight (44%). “The unit price and weight in particular are key indicators of shrinkflation. Without checking weight or unit price, consumers may not notice reductions in the quantity or value of their typical grocery products,” Balagtas said.
Most consumers (82%) thinkshrinkflation is a common practice used by food companies and 76% believe it is a result of trying to increase profits even when costs are not rising.
“It is interesting yet not entirely surprising to see this sentiment as articles about grocery prices, accusations of corporate greed and shrinkflation continue to circulate in popular news media,” Balagtas said. National Public Radio and USA Today, for example, both covered the topic in September.
“Our research on food values shows that price and affordability are among the top concerns for food shoppers, and one way for food manufacturers to reduce the price is to reduce the size of a product. But reducing product size could cause consumer resentment,” he said. Around 74% of consumers agree there should be requirements in place that make product size reductions more transparent to the consumer, such as prominent labeling.
Food satisfaction remained high among most American adults, with 69% of consumers classified as “thriving” on the diet well-being index. Food insecurity remained unchanged from last month at 13%... (MORE - details, no ads)