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How Costco Is Masking A 14% Price Jump With Shrinkflation
How Costco Is Masking A 14% Price Jump With Shrinkflation
The oldest trick in the retailer book is back.
We have previously written about shrinkflation – the “creative” masking of higher prices whereby retailers sell a materially lower amount of products for the ‘same’ price, covering up what is often a significant price increase on a “per unit” basis (see “”Shrinkflation” – How Food Companies Implement Massive Price Hikes Without You Ever Noticing“, “Shrinkflation Hits The UK: Toblerone Shrinks By 10%, Price Stays The Same“, Shrinkflation Intensifies – Stealth Inflation As Thousands of Food Products Shrink In Size, Not Price), and we have a feeling that in light of the recent surge in commodity costs and food prices, we will be writing about it a whole lot more in the coming weeks.
Take Costco, which as The Bear Traps report notes, is now charging the same price for paper towels but the roll has 20 fewer sheets. TBT refers to a recent post in a Red Flag Deals message board, where a member makes the following observation:
Costco paper towels. Same price as the previous several times buying them. Now with 20 fewer sheets.
140/160= .875
The stealthy decline of 20 sheets per roll of towels from 160 to 140 for the “same price” is the functional equivalent of 14.3% inflation, and as TBT notes, “In our experience, only potato chip companies can get away with selling a half empty package.”
Of course, once companies realize they can get away with such shrinkflation – and they will because as a RFD member responds…
I tried telling the clerk at Costco about this, and they said “who cares, it’s just 20 sheets.”
Will be the typical response.
…click on the above link to read the rest of the article…
Meanwhile At A Costco In Brooklyn, The Hoarding Begins
Meanwhile At A Costco In Brooklyn, The Hoarding Begins
The same long lines that we’ve seen in China, Japan, South Korea, and across the world as people panic buy food and health supplies have started in the US.
On Saturday, the US Surgeon General urged people to “stop buying masks,” saying on Twitter that they’re not effective in preventing the general public from catching coronavirus.
Seriously people- STOP BUYING MASKS!
They are NOT effective in preventing general public from catching #Coronavirus, but if healthcare providers can’t get them to care for sick patients, it puts them and our communities at risk!
http://bit.ly/37Ay6Cm Coronavirus Disease 2019 (COVID-19)Coronavirus disease 2019 (COVID-19) is a virus (more specifically, a coronavirus) identified as the cause of an outbreak of respiratory illness first detected in Wuhan, China.cdc.gov
Despite the CDC telling everyone to calm down, alleged video of long lines pouring out of a Costco store in Brooklyn, New York, surfaced on YouTube Saturday afternoon.
This comes days after we reported Hawaiians raced to Sam’s Club and Costco to panic buy food and health supplies as virus fears surge.
And as we noted earlier today: “The great panic of 2020 is underway” as Americans are now stocking up on supplies as the next pandemic could be imminent.
