During the Super Bowl, US President Joe Biden released a video criticizing food companies for “shrinkflation.” In the video, he accused these companies of making products smaller while keeping prices the same, which he referred to as a “rip-off” and stated that the public is tired of being deceived. He highlighted several examples of products that have been reduced in size without a reduction in price, including Gatorade, Breyers ice-cream, Tostitos and Doritos crisps, and Oreo cookies.
The Super Bowl is an important advertising event in the US, attracting a large audience. Despite declining a television interview typically conducted with the president before the game, Biden’s video would have been uncomfortable viewing for some of the biggest food companies, including PepsiCo, Mondelēz, and Unilever. Although Biden did not directly name any products or companies, his criticism was clear.
In response to rising costs due to monetary policy in response to the pandemic, increased global energy prices due to Russia’s invasion of Ukraine, and significant government spending on COVID-19 relief efforts, some companies are believed to be reducing product sizes and altering recipes to contain less expensive ingredients. This practice is known as “skimpflation.”
When approached for comment regarding Biden’s accusations of “shrinkflation,” PepsiCo, Mondelēz