Shrinkflation, the practice of downsizing products, is one way companies have avoided raising the ticket price on goods, but now customers are on the lookout for skimpflation.
Key Details
- Skimplation, the practice of cutting back on ingredients, is the next inflation woe to consumers have to face.
- This cost-saving method may be necessary for companies for a number of reasons ranging from ingredient price changes to supply chain issues.
- Companies often explain these changes as necessary to improve shelf life or taste of the product.
Why it’s news
Customers don’t just want a product that fits their budget. They’re also looking for good quality food on the shelves. If customers aren’t checking ingredient labels, some of these changes could affect nutritional intake.
Over the last year, the food index has risen 11.4% according to the Consumer Price Index. Already grocery prices have affected U.S. eating habits as healthful food becomes more expensive than frozen and processed foods.
Surprising statistics
Shoppers that closely watch the ingredients list on their products may notice some changes on their regular purchases. Here are a few examples. . .
- Smart Balance margarine went from 64% vegetable oil to 39%. Water is now one of the primary ingredients, consumer resource guide Consumer World reports.
- Campbell’s Cream of Potato Soup now lists water as the first ingredient, reports Ingredient Inspector.
- Aunt Jemimah syrup no longer has real maple syrup but high fructose corn syrup.
- Whole Foods 365’s Organic Honey and Nut Morning O’s cereal no longer contains real almonds but almond flavor instead.