A survey suggests that shoppers have noticed that some food and drink products have been downgraded in terms of quality or the quantity of premium ingredients, yet still cost the same or more than they used to – otherwise known as ‘skimpflation’.
According to the study by Barclays, 52% of British consumers have noticed the cost-saving tactic, with the most frequently cited skimpflation examples being crisps (44%), sweets and chocolate (43%), and cakes and biscuits (36%). A fifth also felt that takeaways and restaurant meals have been decreasing in quality without a corresponding fall in price.
Barclays noted that the impact of skimpflation was also spreading beyond food and drink. 41% of consumers said they had noticed that the standards of some non-food products and services have been downgraded, yet still cost the same or more. This included the declining quality of clothing, chosen by 44%, closely followed by toilet paper (43%) and toiletries/cosmetics (37%).
Meanwhile, Barclays highlighted that ‘shrinkflation’ continues to be front of mind for the majority of shoppers (84%), with chocolate (54%), crisps (47%) and packs of biscuits (43%) remaining the top products identified as being impacted by this ongoing trend.
“Shrinkflation – and now skimpflation – are increasing concerns for value-seeking shoppers,” said Esme Harwood, Director at Barclays.
NAM Implications:
- 52% of British consumers have noticed the cost-saving tactic of ‘Skimpflation’.
- And bearing in mind that the consumers that notice they are being short-changed are brand-loyal…
- …it is possible to imagine the damage being done to brand trust.
- See the consequences in the NamNews August Editorial.
