MINNEAPOLIS – Buyers beware: some manufacturers are making subtle changes to their packaging of items on the grocery store shelves.
University of Minnesota Professor George John says it’s called “shrinkflation” and in most cases, it works because most people as consumers practice what academics call “rational inattention” when shopping. That is, people pay closer attention to the price than to the weight of the package.
John says the idea is to keep the price the same while cutting back on the quantity so an example is Honey Bunches of Oats. “If you go look at Honey Bunches of Oats right now you’ll see that the package is that wee bit narrower and the amount of stuff in it has gone down by an ounce, a couple of ounces.”
Comments