518; Shrinkflation: How to Outsmart The Grocery Stores’ Rising Prices

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 9 April 2024

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

Whether you know it or not, “shrinkflation” is costing you. You’re paying more for less, as manufacturers boast record profits. Your paycheck is getting eaten away faster and faster every month, but you’re left with the same amount of stuff. How did this happen, and when is it going to stop? Phil Lempert, AKA the “SupermarketGuru,” has been analyzing consumer behavior, marketing trends, and the retail landscape for over two decades. Now, he’s sharing thetricks manufacturers use to get you to spend more while expecting less. Shrinkflation has become such a severe problem that even the president of the United States has recently mentioned its damaging effects on the American household. Phil gives us the inside scoop on why prices are rising while sizes shrink, how retailers are actually fighting back to get customers the savings they deserve, and which products are seeing the most shrinkflation today. Phil also shares his top tips to beat shrinkflation and save more money every month, how to show the companies that you WON’T put up with their price gouging games, easy ways to identify shrinkflation, and the supermarket chains that give you the best bang for your buck. If you’re tired of seeing your grocery bill inflate while your bank account shrinks, this is an episode you cannot miss! In This Episode We Cover Shrinkflation explained, and how manufacturers are taking advantage of Americans Products that are seeing the most shrinkflation and which items to avoid Why America’s need for “choice” is making shrinkflation even worse The grocery stores and brands that are the best for budget-conscious shoppers How to identify shrinkflation and the sneaky tricks manufacturers play to get you to spend more for less How to take action against shrinkflation and tell brands to STOP ripping you off! And So Much More! Links from the Show BiggerPockets Money Facebook Group Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott on BiggePockets Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Find an Investor-Friendly Agent in Your Area Find Investor-Friendly Lenders Cutting Your Grocery Bill in Half with Erin Chase from $5 Dinners Persuasion Secrets and Predatory Practices Businesses Use on YOU Supermarket Savings Tips: How to Avoid Shrinkflation as Some Companies Give Consumers Less Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-518 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Today on this episode of the BiggerPockets Money Podcast, Kaylin Bennett and I are going to be explaining shrinkflation.
0:06.8	When it happens and why you're noticing more of it these days.
0:10.4	And in the second half, we have Supermarket Guru Phil Lembert on to show us how you can outsmart these companies at the grocery store.
0:19.6	Hello, hello, hello, and welcome to the BiggerPockets Money Podcast. My name is Mindy Jensen and joining me today from our producer team is Kaylin Bennett.
0:28.5	I'm Mindy. Thanks for having me on the show today.
0:30.8	Thanks for joining me and stepping into Truent Scott's shoes.
0:35.8	Oh, it's a big shoes to fill, big rugby shoes to fill, but I am here trying to do my best.
0:43.0	Well, Mindy and I are here to make financial independence less scary.
0:46.6	Less just for somebody else to introduce you to every money story
0:50.4	because we truly believe financial freedom is attainable for everyone no matter when or where you're starting.
0:56.0	So to start the show, I wanted to explain what shrinkflation is and how you may be seeing it as an American consumer.
1:03.4	So what shrinkflation is, it's literally what it sounds like.
1:07.4	Products are getting smaller in size.
1:10.4	So that may be in the actual packaging. You may see a drink bottle that has more indentations or you may see a chip bag with more air at it or a literal smaller size.
1:21.0	And so therefore there's less of the actual product but
1:24.0	potentially more packaging or just smaller packaging.
1:27.0	Mindy have you been noticing that at all like in your shopping adventures?
1:30.8	I have. I just recently made this really delicious soup and it called for
1:35.2	chips as a side dish and I bought a bag of chips and I remember feeling them once I
1:40.0	got home I'm like did I smash these in the car these are there's so much air in this
1:45.2	bag yeah it's the same size bag but it doesn't feel like the same amount of
1:50.0	product inside and I thought I honestly I was blaming myself I thought maybe like the
	...

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