During his State of the Union address, President Biden highlighted the issue of 'shrinkflation,' a tactic where companies reduce the size or quantity of their products while maintaining the same price, as part of his administration's broader strategy to address economic concerns ahead of the November election. Following the address, Snickers, mentioned by Biden as an example, responded by stating they have not reduced the size of their "Snickers singles or share sizes" in the U.S. despite facing "inflation and spikes in material costs." The company's statement was aimed at refuting the President's claim, indicating a discrepancy between the administration's assertions and the company's practices.
Reality check: any cpg company *not* engaging in some form of shrinkflation or price increases is one that was previously operating with very high margins https://t.co/gEVjvoIhy0
Snickers parent company has denied Biden's claim they reduced size of their product while charging the same price. https://t.co/9mXViOz4w2
Joe Biden used Snickers as an example of shrinkflation last week. And Mars (the company behind Snickers) wasn’t having it. 😂 Here’s their official statement: https://t.co/TXZRH49ZgF
Snickers Pushes Back on Biden's 'Shrinkflation' Claim https://t.co/7xOZGJwa6I
Snickers denies Biden's claim it reduced candy bar sizes in 'shrinkflation' https://t.co/LI9uDvExiW
Snickers Bar Maker Denies Biden’s State of the Union “Shrinkflation” Charge via @gatewaypundit https://t.co/XCKFXkz6Gn
Cookie Monster says the dollar is losing its buying power. By "shrinkflation," the Muppet is referring to a dreaded economic trend. Companies "shrink" the size or weight of a product while keeping the price the same. The cost per unit is then inflated ➡️ https://t.co/PgJhVQ4x6k https://t.co/IEsKqaBHyj
Shrinkflation paying more for less https://t.co/IqzsgtVPlC
"Me hate shrinkflation! Me cookies are getting smaller." —Cookie Monster, Sesame Street https://t.co/nbTwxHe2Ku
"Snickers said that they had not 'reduced the size of the Snickers singles or share sizes in the U.S.,' despite having to face 'inflation and spikes in material costs.'" Guess you could say the President's claim was grossly... inflated. 😎 https://t.co/zW4gtoryx9
President Biden called out "shrinkflation" during his State of the Union address this week -- a call-out that comes as part of a broader strategy from his administration to reframe how voters think about the economy before the November election. https://t.co/mUeIvNEc6z
SHRINKFLATION https://t.co/0XxoOGPxNc
Snickers Responds to Being Called Out by Biden at the SOTU https://t.co/sEykk0Ks56