Globally, shrinkflation has impacted the size of products with no price reduction. Despite consumers’ complaints, not much has been done to resolve it — until now. The French government recently passed regulations to flag the questionable practice. This is how they are fighting back…
Shrinkflation of Products has Become a POLITICAL Issue
We can all agree that getting less product for the same amount of money is no fun. However, it has become more than an inconvenience in Europe — it’s a serious problem.
Last year, the cost of living hit record highs which initiated an aggressive campaign across the region.
AS A RESULT, INFLATION HAS FALLEN A THIRD SINCE THAT TIME IN FRANCE!
Statistic via The New York Times
However, shrinkflation has kept the cost of food products doggedly high all over the country. As such, the French government is calling these companies out…
Little Orange Sign = Shrinkflation Products
Aside from the excuses of the food manufacturers, the shrinkflation of products has persisted simply because consumers are unaware.
So on April 19th, French regulators instated policies requiring grocers to label items which…
“Has seen its volume decrease and the price charged by our supplier increase.”
These small notices are also helpfully set with the standard color code of orange. Additionally, citizens are encouraged to report unlabeled products they suspect of shrinkflation.
While it is nice that Frech consumers will know for certain they are being short-changed, is this initiative enough?
French Government Believes Awareness Will Make a Difference
The first step to tackling any problem is acknowledging that one exists.
France’s campaign to mark shrinkflation products won’t necessarily stop companies from doing it…
But, food shoppers may think twice before buying them. And nothing speaks louder to companies than affecting their bottom line.
France is also encouraging the rest of the European Union to follow suit. We will have to see the results in France before we determine if it shakes things up.
Be Great,
GCTV Staff
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