"Prices Stay the Same, Quantity Reduced"... 11 Shrinkflation Products Detected

Korea Consumer Agency Q2 Survey Results
One-Third Level Compared to Q1
Decrease Ranging from 7.1% to 20%

About 10 products with 'sly price increases' that raised prices while reducing volume were detected. This is about one-third less than in the first quarter.

On the 26th, the Korea Consumer Agency announced that 11 products with reduced volume relative to price were identified in a survey on shrinkflation products in the second quarter of this year. Shrinkflation is a compound word of "shrink," meaning to reduce, and "inflation," referring to price increases. It describes a practice where companies raise selling prices by reducing product size or volume in a way that consumers find difficult to notice.

Dongwon Yangban Perilla Oil Seaweed and Sesame Oil Seaweed displayed at Hanaro Mart Yangjae Branch in Seocho-gu, Seoul. Photo by Jin-Hyung Kang aymsdream@

The Consumer Agency monitored product information submitted by eight companies, including department stores, large supermarkets, and online malls that have signed voluntary agreements, price survey data from the comprehensive price information portal site Chamgagaek, and products reported to the shrinkflation reporting center. The 11 products detected this time showed volume reductions ranging from 7.1% to 20%. The timing of volume changes was last year for 3 products (27.3%) and this year for 8 products (72.7%). By origin, 6 products (54.5%) were domestically manufactured, and 5 products (45.5%) were imported. By category, food products accounted for the majority with 9 items (81.8%), and household goods accounted for 2 items (18.2%).

Among domestically manufactured products, the cosmetic product 'Bukegarni Nad Hair Plus Water Treatment' reduced its volume from 250ml to 200ml, a 20% decrease. Also, 'Othel Opam' decreased from 800g to 700g, a 12.5% reduction. 'Mukkowokko Makchang Tteokbokki' and 'Pureun Jeju Harbang Chocolate 3 types' also saw volume reductions of about 9% each.

Among imported products, 'Clipper Organic Earl Grey Tea' reduced its volume from 50g to 40g, a 20% decrease. Although the volume per unit remained at 2g, the quantity decreased from 25 to 20, resulting in this reduction rate. 'Solgar Omega-3 700' also decreased from 75g to 60g, showing a 20% reduction. Additionally, 'Vitamin Bank Propolis Zinc Vitamin C' decreased from 111.6g to 93.6g, a 16.1% reduction.

The Consumer Agency published information about volume changes on Chamgagaek and recommended that manufacturers and importers provide this information on their websites or shopping malls. They also posted volume change details at major distribution outlets so consumers can see them.

Separately from the Consumer Agency's actions, since the 3rd of this month, the 'Unfair Consumer Transaction Act Designation Notice for Business Operators' has been enforced, prohibiting failure to disclose changes such as volume reductions. Accordingly, manufacturers of items closely related to daily life who reduce volume without notifying consumers are subject to fines.

A Consumer Agency official said, "Consumers who find products with volume changes during purchase can directly report the details to the Korea Consumer Agency's 'Shrinkflation Reporting Center' on its website," and added, "We will continue to provide quarterly monitoring results related to shrinkflation to support consumers in making rational purchases based on accurate price information."