Shrinkflation has been the subject of considerable debate over the last few days.

It’s caused plenty of tutting and penny-pinching accusations aimed at the companies involved. But should we really be surprised? Isn’t it simply sound business sense but with one key ingredient missing?

For the uninitiated, shrinkflation is the old trick of decreasing the size of your product while maintaining the same price point.

For consumers it is the latest drawback of the cost-of-living crisis and the ‘pay more, get less’ mantra which has accompanied it. Little wonder they kick back when the likes of consumer group Which? highlight those companies offering us less than we’ve become accustomed to.

And every bit of criticism damages the producer’s brand.

Yet what are the manufacturers of these goods supposed to do in the face of soaring costs?

Either they hike their prices and get it in the neck on news websites or social media or they cut the size of their goods in order to maintain the price. It’s all well and good thinking ‘well they make millions’ but they make millions by being alert to the economics which surround them. That’s capitalism for you.

From transportation costs (remember how lorry driver wages rocketed or fuel prices spiked?) to energy costs (who hasn’t felt the continuing pain of increased prices?) and inflation, everything which feeds into a product – whatever that may be, raw materials or labour – has gone up. Not to mention the long-term repercussions of the pandemic still biting into many a bottom line.

Which leaves everyone from the big multinationals to the sole-trader left with having to make up the shortfall in their pricing structure. Whether you’re selling goods or your labour, reviewing costs and product is simply sound business sense. And if you haven’t you’d be foolish if it’s a viable way to balance the books.

As for that missing ingredient? The key strategy going forward may just be a bit more honesty. Rather than, say, bringing out a packet of Pringles in a reduced can size and hope most customers won’t notice it, why not just come clean and explain why the smaller size product is a necessity?

For local producers in particular, that honesty could make all the difference to the way you are perceived both in the short and long term.

Because what riles consumers more than anything else is if they think they’re being taken a fool of. So come clean and perhaps, just perhaps, you’ll be applauded for doing so.