Some 73% of consumers concerned with shrinkflation: report

Snack foods like chips and sweets (52%) top the list of product categories where consumers are noticing this trend, followed by dry goods like cereals, flours and pasta (46%), paper goods (35%) and cleaning products (34%)

A quarter of consumers are also noticing shrinkflation in the case of bread and bakery products (25%), beauty and personal care products (25%) and ready-to-cook products like instant noodles and soups (23%)

One in five consumers are seeing shrinkflation in fresh produce (21%) and pet foods (20%)

Nearly half of all respondents said they are likely to purchase generic products over their name- brand versions (46%) or switch to a different brand (45%)

Consumers aged 55 and above are significantly more likely to stop purchasing some products altogether (48%) as compared to their 18-34-year-old counterparts

On the other hand, while nearly two-fifths of 18-34-year-olds (39%) indicate that they are likely to purchase products in bulk sizes instead of smaller packages, this proportion falls to less than a third amongst consumers above the age of 55 (27%)

More than a third of the respondents (33%) plan to wait or hold off on purchasing some products while 29% are likely to buy whole and/or fresh foods instead of pre-packaged products