It’s a new season of “Million Bazillion” and listener Noah wants to know, what is shrinkflation? When Ryan notices his favorite pita chip snack is shrinking, he, Bridget and a talking pita chip put on their detective hats and head to a food factory to get to the bottom of the shrinking snack mystery. That’s where they learn about the ways some businesses deal with rising prices and discover shrinking isn’t just for snacks!
After listening to the episode, try out these related conversation starters with your kids:
Do you think you've noticed an example of shrinkflation in real life? What was it?
What’s something that gets worse as it gets smaller? Is there anything that gets better when it shrinks?
If you had your own business, and the things you needed to make your product got more expensive, what would you do?
*Bonus* Not-So-Random Question: Would you rather have your favorite snack stay the same size and cost more money, or get smaller and cost the same?
Want to keep the learning going? Start here:
Listen to this “Million Bazillion” episode about inflation to learn what happens when the price of everything goes up.
Then, check out this “Million Bazillion Academy” lesson on inflation for a more interactive learning experience. And, while you’re there, enroll in the full course to help your kids build a better understanding of how the economy works, one lesson at a time.
Grownups, if you’d like to show your kiddo how to spot sneaky price increases, check out this “Marketplace” story about shrinkflation.
Most people notice shrinkflation at the grocery store. That’s where you might also notice a price difference between name brands and store brands as we uncovered in this episode of “Million Bazillion.”
We love hearing from you! If you have a money joke, poem or question you’d like Bridget and Ryan, to answer, send it our way using this online form.
Note: Marketplace podcasts are meant to be heard, with emphasis, tone and audio elements a transcript can’t capture. Scripts may contain errors. Please check the corresponding audio before quoting it.
MEDITATION GURU: You cannot control the world. You can only control your reaction to it. You are the master of your self
RYAN: I am the master of myself
MEDITATION GURU: You are calm, centered and at peace.
RYAN: I am calm, centered and at peace.
RYAN: Come in.
NURSE: Hi Ryan, you have a visitor. She says her name is Bridget and she’s your podcast co-host?
RYAN: Oh, yeah, I know Bridget. Thanks Nurse you can let her in.
BRIDGET: Hi Ryan! You’re looking well. Wow, it is SO Zen in here.
RYAN: Yes, my doctor thought that a calm environment would be best for my recovery.
BRIDGET: So how is that going? I don’t want to push you before you’re ready, but it IS almost time for another season of Million Bazillion…
RYAN: You know Bridget, I’ve done a lot of reflecting while I’ve been here, and I think I am ready to jump back in the saddle.
BRIDGET: Really!? Phew, what a relief! I’m so glad we can put the whole chips incident behind us.
RYAN: Yes, that was a dark time, I’m just glad we all finally agree that there were fewer chips in the bag than there used to be.
BRIDGET: Oh, Ryan…we talked about this. The chips are exactly the same as they have always been.
RYAN: Hahaha Bridget. Nice try. But I am 100% positive that my favorite dollar bag of chips that I always get now has fewer chips in it than it used to.
BRIDGET: No Ryan, the bag is the same size.
RYAN: Yes, Bridget, the BAG is the same size. But the CHIPS. The chips inside are fewer. There are fewer chips than— ugh! I am the master of myself. I am the master of myself.
BRIDGET: Look, I don’t want to trigger a whole new breakdown for you, but I brought a bag for us to share. You can see for yourself.
RYAN: A HA! See!? The bag is half air! There are barely any chips inside!
BRIDGET: Ryan, chip bags have always had air in them. The chips are the same!
SFX: DRAMATIC MUSIC
RYAN: No they're not! You’re trying to gaslight me!
BRIDGET: OK, let's calm down big guy.
RYAN: I know what I see! This is real! And it’s not just chips! It’s everywhere! The cereal boxes have less cereal! The soda cans are slimmer! Even your toilet paper has fewer sheets per roll!
BRIDGET: Nurse!
NURSE: Oh no, not again.
RYAN: I’m telling you! Look for yourselves! They’re trying to trick us!
BRIDGET: Ryan? Ryan!
RYAN: I’m telling you, the chips are different! They’re shrinking!
BRIDGET: Ryan! Wake up! You fell asleep at your desk, you were having a bad dream.
RYAN: Oh thank goodness! I had the silliest dream, all our favorite products were shrinking and no one believed me! But that would never happen!
RYAN: Welcome to Million Bazillion. I’m Ryan.
BRIDGET: And I’m Bridget. And we help dollars make more sense.
RYAN: Bridget! Did you eat all my Pita Chips?! The bag is totally empty!
BRIDGET: I had SOME pita chips but there weren't that many in the bag.
RYAN: Ok well now I’m gonna have to break the glass on my emergency pita chip stash, which you know I am LOATHE to do.
SFX: GLASS BREAKING
BRIDGET: Mmkay while you do that why don’t we listen to today’s listener question.
NOAH: Hi Million Bazillion, my name is Noah, from Sydney Australia, and my question is, what is Shrinkflation?
BRIDGET: “Shrink” flation? Well I've heard of inflation. That’s when the price of everything goes up at once.
RYAN: We did that episode, Season 3, Episode 3.
BRIDGET: But SHRINK-flation?? Well let’s hope some perfectly timed adventure comes up to help us answer Noah’s question because I’ve heard of “shrinkflation” before.
RYAN: Maybe it’s a “down-under” thing. You know, because Noah’s from Australia? BRIDGET! Did you get into this bag of chips too??? There are so few in here!
BRIDGET: Ryan how could I have gotten into those chips you JUST opened that bag.
CHIP: Yeah Ryan, Bridget’s not the reason your chips are missing!
BRIDGET: Did…that bag of chips just speak?
CHIP: NO.
RYAN: Uhhhh…then who is speaking?
CHIP: I am not a bag! The names Chip, Pita Chip. And you guessed it, I’m a delicious, nutritious and perfectly seasoned Zaatar flavored pita chip. And I need your help!
BRIDGET: Oh man, I was literally just about to eat you and now I feel bad?
CHIP: Please don’t! I’m a chip! It’s literally my job to get eaten. That’s not what I need help with. What I NEED is someone to help me find my missing brothers and sisters. As you might have noticed, this bag is half empty.
BRIDGET: Well it really depends on how you look at it, you could say it’s half full.
RYAN: Bridget, now’s not the time.
BRIDGET: Ok, but because I’m an optimist, I’m committing to saying “half full”.
RYAN: Fine! Go on, Chip.
CHIP: As I was saying, a lot of the chips that were in this bag are missing. I need YOU to find out why.
BRIDGET: OOohh a mystery! It’s like one of those old black and white noir films you love so much Ryan.
SFX: NOIR DETECTIVE MUSIC
RYAN: This is the perfect occasion for me to whip out my detective’s fedora hat and trench coat!
SFX: CLOTHING RUSTLING
BRIDGET: Ooo I like it, it makes you look very capable but mysterious, like maybe there’s a painful secret in your past.
CHIP: So…you’ll help me?
RYAN: Yeah, sheee, I’ll take the case.
BRIDGET: You’re not a detective.
RYAN: I know… but I’ll take the case, sheee.
BRIDGET: OK well, to start us off - you say there are pita chips missing from the bag. When did you first notice they were missing?
CHIP: From the very beginning, at the chip factory!
RYAN: The beginning you say? Well that’s a mighty fine place to start. What’s the name of this factory?
CHIP: I come from the FoodNStuff family of branded snacks!
BRIDGET: To the FoodNStuff factory!
RYAN: We’re gonna get to the bottom of Chip’s mystery and Noah’s question! Yes, all that… and a bag of chips…right after this break, sheee..
DAPHNE: I’m Daphne from Baltimore, Maryland here with today’s Asking Random Kids Not So Random questions. Today’s question is: Would you rather have your favorite snack stay the same size and cost more money or get smaller and cost the same?
KIDS: Stay the same size and cost more. I would rather have my favorite snack cost more and stay the same size because already half the bag is filled with air. I would rather it get smaller and the cost stay the same. I would rather my favorite snack to get smaller and cost the same because I'd like to save more money. I don’t want the person buying snacks to have to pay too much money. I want it to cost more and stay the same size because I like it the way it is. And If it's not too much money they could just buy more. Get smaller and cost the same, so iIf I ever have to buy my own snacks it’ll have the snack price I’m used to. I would rather have my favorite snack stay the same size and cost more because my parents could just pay for it.
RYAN: That was: Vanier in Ontario, Canada, Will and Lucas in Maryland, and … Avery, Alice, Julia, John and Hannah in Texas. This has been Asking Random Kids Not So Random Questions.
BRIDGET: Welcome back to Million Bazillion! Today, Ryan and I are investigating the case of the missing chips with Chip, a pita chip. Wait, so are you all named Chip?
CHIP: Yes.
RYAN: Doesn’t that get confusing?
CHIP: It does.
BRIDGET: Let’s stay focused on the problem at hand. So we're here at the FoodNStuff factory where some of America’s favorite snacks are made - including TamTam Puffed Rice Cakes, Lil’ Stinker’s Pungent Pops, and Rabid Randy’s Howler-ific Honey Bites.
RYAN: “Arrgh! I’m foaming at the mouth for these honey bites!”
CHIP: This is where the problem started. You see, normally when bags of pita chips get filled on the assembly line, they get filled right up to the ¾ mark. They always leave us a little room in the bag, since we chips easily break if we’re too squished together. But this time, the bag only got filled up halfway.
RYAN: Suspicious!
SFX: NOTE SCRIBBLING
SFX: NOIR MUSIC
BRIDGET: Ryan where did you get that tiny notebook?
RYAN: It was in the trench coat, shee. I think they all come with tiny notebooks? Anyway, can you show us where the filling incident took place?
CHIP: Right this way…this is the packaging floor. It’s where all your favorite FoodNStuff goodies get put into their boxes and bags.
RYAN: OOooo Connie's Cookie flavored Cupcakes are made here?! Those were my favorite when I was a kid.
BRIDGET: Says on the package they are “99% sugar”?
RYAN: Yeah, my dentist said I was the youngest kid he’d ever seen who should have dentures! Don’t mind if I do.
BRIDGET: How is it?
RYAN: Hmmm, not as good as I remember them! Maybe my palette has refined over time because I’m now a mature adult. Oooo, look, they got Baby Dino Gummy Squirter Chewies! Can I take one? Just one?
CHIP: Quit dilly dallying! My filling station is over here.
CHIP: THIS is where the magic happens. You see that chip slide there? The roaster is at the top, where we pita chips get nice and toasty, then we slide straight down to the assembly line where our bags are waiting to be filled.
BRIDGET: Oh I see, so each bag is coming down the assembly line and getting filled with some chips from the chip slide and then sealed.
CHIP: Yeah, this is where the trouble started. Look at these bags! They’re only half filled! Where are the other chips?
RYAN: Well I’m looking at the roaster and there’s plenty of chips coming down the chip slide so…they definitely have enough to fill a whole bag.
BRIDGET: Wait a minute, look over here! Where the chips are coming out
RYAN: Oh I see! The spout..it looks like…it’s shrunk? Like, only a few chips can get out at a time.
DOCTOR SNACKENSTEIN: Oh thank goodness! Did they send you to help???
BRIDGET: Did who send us? And I’m sorry, who are you?
DOCTOR SNACKENSTEIN: I’m Doctor Snackenstein! Genius inventor and mad scientist!
RYAN: Of course you're a mad scientist, that explains the wild and crazy hair!
DOCTOR SNACKENSTEIN: Aren’t you here about the shrinking problem??
RYAN: Shrinking problem?
SFX: NOIR MUSIC
DOCTOR SNACKENSTEIN: Well yes! You see, FoodNSutff hired me to work on new inventions to help maximize efficiency. All their costs are going up thanks to inflation. But they can’t just ask the customer to pay the difference or the customers might stop buying.
BRIDGET: Yep, that’s definitely something that can happen when inflation hits. The cost of everything goes up and sometimes, the amount that grown-ups get paid doesn’t go up right away. That leaves companies to try to find solutions to keep customers happy and buying.
DOCTOR SNACKENSTEIN: So I was working on a quickening machine to make everything move faster and help save the company some money so they don’t need to raise prices - I called it “The EnQuickenator! But it’s not quite working the way I meant for it to.
BRIDGET: Let me guess, when you tested it out…
CHIP: Everything shrunk?
DOCTOR SNACKENSTEIN: Precisely!
RYAN: Interesting, let's take a look at this invention of yours.
DOCTOR SNACKENSTEIN: Ok it’s right here, but just be careful because it’s a little unpredictable
BRIDGET: Whoa! Look at these glowing rods…what does this button-
DOCTOR SNACKENSTEIN: Don’t touch that!
RYAN/BRIDGET: AHHHHHHHHHH!!!!!
DOCTOR SNACKENSTEIN: Oh no, not again!
BRIDGET: Chip, why do you look gigantic?
CHIP: Um, I think you got shrunk….
RYAN: When I said I wanted to lose a few pounds this is not what I meant.
BRIDGET: Um, why are we moving??
CHIP: Oh no, you’re on the assembly line! You’re going to get sealed into a bag of chips! RUN!
DOCTOR SNACKENSTEIN: Uhhhh I’m gonna go get some help! I’ll be back!
BRIDGET: Why would he leave??
RYAN: Chip! Help us!
CHIP: Help YOU? You’re supposed to be helping me!!
BRIDGET: OH right. OK well someone is going to get helped…after this break.
[MUSIC]
RYAN: If you’re enjoying this episode of Million Bazillion, check out our tip sheet for this episode! We deliver it straight to your email inbox when you sign up for our newsletter.
BRIDGET: It’s a great tool for families who want to learn more about money together. The tip sheet is packed with conversation starters and related activities. Plus other recommendations from the Million Bazillion team.
RYAN: Plus, get an exclusive peek at our upcoming episode, and the money question we’ll be answering next!
BRIDGET: Go to marketplace.org/newsletters to get our newsletter delivered straight to your inbox and thanks!
RYAN: Bridget I can’t run on this conveyor belt anymore!
BRIDGET: Me neither! I guess it’s time to resign ourselves to our fates: Being sealed into a bag of pita chips.
BRIDGET: Oh thank goodness, the assembly line stopped!
RYAN: And just in time! I feel like I just ran 20 miles..
CHIP: Well, you’re tiny so you actually only ran about 6 inches…
BRIDGET: OK, welcome back to Million Bazillion. Ryan and I came to the FoodNStuff factory to try to figure out why bags of Pita Chips are only half full, and thanks to the EnQuickenator machine, designed by the factory’s efficiency expert and mad scientist, Doctor Snackenstein, we were accidentally shrunken and are currently the size of like, I don’t know, what are we like the size of ants? Yeah, we’re ant-sized
DOCTOR SNACKENSTEIN: Yes, I really am sorry about that. Though I did say “Don’t touch that.”
BRIDGET: Well, maybe add a sign or something next time!
DOCTOR SNACKENSTEIN: Ok, I think the factory floor is a little too dangerous for two people of your size. I’m gonna take you two into my office for safe keeping, if you don’t mind. Here, let’s just put you into my lab coat pocket.
BRIDGET/RYAN: WHOOOOAAA / Hey watch it/ Be careful!
BRIDGET: Not the pocket!
RYAN: How are we supposed to fit in here with all those pens!
RYAN: Ooh, you know, once you get used to the lint, this pocket isn’t half bad.
BRIDGET: Yeah, it’s kinda cozy. It’s like we’re in a giant sleeping bag.
RYAN: Also, probably less rent than I’m paying now.
DOCTOR SNACKENSTEIN: Alright you two stay here. I’m going to go try to make some changes to my machine and get you back to your normal size.
RYAN: What a nice guy.
SFX: NOIR MUSIC
BRIDGET: So where are the missing pita chips? Let’s work backward from the clues we have. We know that the reason the chip bags are only half full is because the chip slide was shrunk.
RYAN: And the chip slide was shrunk because Dr Snackenstein was trying to “maximize efficiency” and find ways to cut costs because the raw materials that go into the chips got more expensive due to inflation. But his machine accidentally shrunk things instead of making them faster.
BRENDA HAMMER: Was it really an “accident”?
BRIDGET: Ah! Who’s there - wait, is that…Brenda Hammer from Scam Slammers! Why are you lurking in the dark?
BRENDA HAMMER: Yes, it is I. Brenda Hammer. Champion of the Consumer, Foiler of Frauds, Slammer of Scams.
SFX: SCAM SLAMMERS STING
RYAN: Wait a minute, you’re tiny, just like us! Why are you tiny?
BRENDA HAMMER: Well that’s just the question, isn't it? Or put another way, why is everything SHRINKING? And is it an accident?? If you want to know the truth, follow me.
RYAN: Should we follow her?
BRIDGET: It’s Brenda Hammer, she’s one of our recurrings. Of course we’re gonna follow her!
BRENDA HAMMER: See, I was sent here by my producers to look into why everything FoodNStuff makes seems to be shrinking lately.
RYAN: So it’s not just the pita chips?
BRENDA HAMMER: Oh no, Boy-O, the Pita chips are just the tip of the iceberg. So I came to the factory, trying to get a lead for my story, when I run into old Dr. Snackenstein. And he sells me the same yarn he told you, that he’s looking for business efficiencies but his new machine is “malfunctioning” and is “accidentally” shrinking everything. And I’m thinking “Sure, I was born at night. But not last night….” And then BAM, all of a sudden I’m the size of a paperclip.
RYAN: You think…he shrunk us on purpose?!
BRENDA HAMMER: You. Me. I think this whole joint is part of a big old shrinkspiracy. And I can prove it. Take a look at this.
SFX: PAPERS RUSTLING
BRIDGET: “PRIVATE COMPANY MEMOS - CLASSIFIED” whoa these are internal FoodNStuff documents.
BRENDA HAMMER: That’s right, and this goes all the way to the top. Check it out, they’re from the office of Mr. Corporate, the CEO of FoodNStuff.
BRIDGET: (Reading) “Dear Doctor Snackenstein, how is your shrinking machine coming?” “Dear Mr. Corporate, It’s all going to plan, everything in the factory should be shrunk by the end of the week.” “Dear Doctor, make sure you don’t tell anyone about this plan, aka Project Shrinkflation.” “Dear. Mr. Corporate, I mentioned it to my dentist. Is that ok?” “Dear Doctor, No not really, just don’t tell anyone else”
RYAN: Ok, we get the idea. But why would they do this, Brenda?
SFX: NOIR MUSIC
BRENDA HAMMER: It’s obvious aint it? If you shrink the amount of product you give the customer, but charge the same price, people might not notice they’re getting less. So they keep buying the product, none the wiser!
RYAN: Right right, and who’s going to check to see if their bag of pita chips weighs 7.3 ounces or just 7 ounces? So the customer doesn't notice they’re getting less. It’s the perfect crime.
BRIDGET: So THATS what's happening with the Pita Chips. The chips aren't missing, FoodNStuff is intentionally putting less in the bag! This must be the Shrinkflation thing Noah wrote in about!
BRENDA HAMMER: Oh yeah, well that’s why I’m here. Shrinkflation often happens when regular old inflation makes the price of things higher. If the cost of the raw materials or cost to pay workers goes up for example, companies usually raise THEIR final price. But what if they don’t want to do that? FoodNStuff is just one of MANY companies that are now shrinking their products and giving the customer less than they used to.
BRIDGET: But isn't that a little deceptive? Why not just charge a little more?
BRENDA HAMMER: Well, customers are more likely to notice a raise in prices than getting a little less product.. Let's say you’re on a tight budget. You might notice that your favorite frozen dinner is now a dollar more than it used to be. You’d be less likely to notice that it has a little less mashed potatoes!
RYAN: That’s a good point. Especially if the packaging looks the same as it used to.
BRENDA HAMMER: And sometimes, companies don’t even use the same packaging as before. They change the shape of the packaging so it LOOKS like more than it actually is.
RYAN: Wait a minute! Now that you mention it, I HAVE noticed that some of my favorite things are smaller than they used to be! I knew my favorite cereal had less in the box than it used to! ! And Skimbleshanks’ favorite cat treat containers are smaller too! We’re running through them so fast, I thought she was just being an extra good kitty! ! This must be why!
BRIDGET: I can’t believe Dr. Snackenstein and Mr. Corporate have been shrinking FoodNStuff products on purpose!
RYAN: We’ve got to tell people about this! The public would be outraged!
BRENDA HAMMER: Well, …maybe. To be honest, shrinkflation’s been on the rise the last couple of years and people tend to just “deal with it” or they text it to their friend with an upside down happy face emoji.. But I’ve got a hunch this factory is up to something else besides shrinkflation, something people might actually get upset about. Maybe that’s why that Doctor shrunk us. I think the good doctor is trying to keep us quiet.
BRIDGET: We need a way out of here. Maybe if we can get back to the shrinking machine we can reverse this and blow this whole thing wide open.
CHIP: Pssst! Over here!
BRIDGET/RYAN: PITA CHIP?! What are you doing here?
CHIP: After the Doctor shrunk you down, I followed him up here. It’s easy to slide under doors when you’re flat like a, well like a chip.
BRIDGET: Can you get us out?
CHIP: Yeah you should all be able to fit into the ventilation ducts and make it back to the factory floor. But hurry up, I tied up the Doctor with a Nacho cheese spill, but that won't last long!
RYAN: Alright, we’ll follow you.
BRIDGET: Hey Ryan, I kinda got the feeling back there that you and Brenda Hammer had some chemistry.
RYAN: What? Are you kidding? Me and Brenda Hammer? Not in this life! OK, we’re gonna climb through these ducts and try to get unshrunk, right after this quick break.
PERRY: Hi, my name is Perry and I’m going to do some money jokes for y’all. Why did the football coach go to the bank? To get his quarterback. See yaz.
BRIDGET: Welcome back. We just got out of the ventilation ducts and onto the factory floor!
RYAN: And Phew! those ducts were DUSTY!
BRENDA HAMMER: I didn’t think I would ever be afraid of a dust bunny but yikes!
BRIDGET: OK now if I were a shrinking machine where would I be?
CHIP: It’s over this way, I think he was planning on shrinking the FoodNStuff Easy Breezy Creamy MacNCheesey boxes next.
RYAN: For the love of Pete, is nothing sacred?!
BRIDGET: Whoa wait a minute - that’s not mac and cheese! Those are hummus cups. And they’re not FoodNStuff, they’re WellCo brand! I thought Wellco was a super healthy and high end food brand that’s only available at the hippy supermarket.
CHIP: It WAS a super healthy and high end food brand. Until FoodNStuff bought the company last year. Since then, FoodNStuff moved production in house and well…I doubt it’s the hummus you remember.
RYAN: Well, let's not jump to conclusions till we read the label … “100% Hummus-like product.”
BRIDGET: What’s a “hummus like product”?
BRENDA HAMMER: Let me just take a taste here…
RYAN: Careful, Brenda!
BRENDA: UGH It ain’t chickpeas, that’s for sure. Wait, just because FoodNStuff bought WellCo Hummus, why would that make the hummus be different?
CHIP: We don’t have time for this! Now come on, we gotta find that shrinker!
BRIDGET: I see it! It’s over here! And look, there’s a power gauge! All we have to do is change the setting from “Shrink” to “Enbiggify!” Ok Brenda Hammer, you first!
BRENDA HAMMER: Whoaaaaaa!!
BRENDA HAMMER: I’m normal size again! Boy, it feels good to be 4’11” again!
RYAN: Alright Bridget, you next.
BRIDGET: Here goessssss!
BRIDGET: Ok, wallet, watch, phone, keys. Yep, it’s all bigger. Ryan, you’re last up. Ready?
RYAN: Yeah! Let’s hurry!
(SFX POP)
RYAN: Phew! Alright lets get out of here quick
DOCTOR SNACKENSTEIN: NOT SO FAST.
RYAN: Doctor Snackenstein!
BRIDGET: Doctor you don’t have to do this! I know Mr. Corporate hired you to maximize efficiency but this isn't the way! Just be transparent about your pricing! The public will understand!
DOCTOR SNACKENSTEIN: “The public will…. understand?!” Are you kidding? They would see the higher prices and run!
RYAN: But you don’t have to use your inventions for evil! OK maybe not evil but shall we say, corporate deception? You can stand up to Mr. Corporate and tell him no!
DOCTOR SNACKENSTEIN: You just don’t get it do you. I’m not doing this because I have to. I’m doing this because I WANT TO. I AM MR. CORPORATE!
EVERYONE: GASPS
BRIDGET: You were wearing a hyper realistic face mask! And a wig! You don’t have wild and crazy hair at all!
DOCTOR SNACKENSTEIN: That’s right! I just needed someone to blame if the story of the shrinking ever got out. But it's not ever going to get out. Because you and your friends are going to get shrunk back down, and go back to my office like good little podcasters.
BRENDA HAMMER: What about the people? Hard-working consumers deserve to know the truth!
DOCTOR SNACKENSTEIN: The truth?! They can’t handle the truth. And you’ll see. The shrinking is just the beginning. My new invention, the Skimpenator 3000, is going to make my profits go sky high!
RYAN: “shrimp”enator? What is that going to do, make everything crustacean flavored? That sounds delicious, to be honest.
DOCTOR SNACKENSTEIN: Not SHRIMP. SKIMP. It's going to make all my products just a little bit worse! We will use cheaper ingredients! Our toilet paper will be thinner! Our Guacamole will be all onion!
BRIDGET: ALL ONION? You're a monster!
RYAN: Why would you do it??
BRENDA HAMMER: I knew you were skimping! Skimpflation is another tactic businesses use to get more bang for their buck. It happened with snacks like granola bars! Companies started using poorer quality chocolate, they had to say “chocolatey granola bars” instead of “granola bars with milk chocolate!” Because it’s not even real chocolate! It’s just chocolate-esque!
BRIDGET: Oh I get it! SKIMP-flation, like Skimping out on the quality of your product. Instead of giving less, they just make it a little worse.
RYAN: That explains the hummus tasting like floor! But why not just be honest with your customers? They’re going through inflation too!
DOCTOR SNACKENSTEIN: You naive journalist podcasters. You could never understand the demands of business! My shareholders want to see growth! They want to see increased profits. What are businesses supposed to do when inflation starts eating into their margins?
RYAN: Couldn’t you…make slightly less profit?
BRENDA: Ryan… you may’ve been born at night. But was it last night?
RYAN: Ok fine, maybe that’s not realistic. But I think it’s wrong for businesses to try and sneakily get away with these chocolaty changes.
DOCTOR SNACKENSTEIN: “I think it’s wrong to blah blah blah.” If I want to shrink and skimp my way to the top, that’s what I'm gonna do. And there's nothing you can do to stop me! First, all the FoodNStuff products. Next, the world!
RYAN: But how will you do it all when you’re so tiny?
SFX: BUTTON PRESS
DOCTOR SNACKENSTEIN: So tiny? What do you meeeeeeaaannn??? (AHHHHHHH!!!!)
SFX: CONVEYOR BELT ALARM SOUNDS
DOCTOR SNACKENSTEIN: HOW DARE YOU! I demand you make me bigger at once! Hey wait a minute, why am I moving?
BRIDGET: Oh no, looks like you’re on the assembly line. You’d better start running or you’ll…
BRIDGET: get sealed into a bag of pita chips.
DOCTOR SNACKENSTEIN: HEYYYYY!! Why is it so dark in here?!
RYAN: Bridget, you think we should help him? It seems wrong to leave him sealed in there.
BRIDGET: Nah. I’m sure some Birkenstock-wearing camp counselor will find him and help him get unshrunk eventually. In the meantime, Brenda Hammer, you’ve got a story to report.
BRENDA HAMMER: You bet I do. Thanks for the assist. And stay vigilant! We may have thwarted Mr. Corporate’s schemes for now, but it’s up to customers to know the products they love, and make informed decisions about where they spend their money. Bye for now!
(SFX: SCAM SLAMMERS STING)
BRIDGET: So Chip, just to close the loop on this case. It looks like your chip brothers and sisters weren't missing after all. They were never put into their bags on purpose. FoodNStuff has been engaging in Shrinkflation and giving their customers less than they used to.
RYAN: And thanks to us, their dastardly attempts at SKIMPflation were foiled! No one else should have to taste that disgusting hummus-like hummus!
DOCTOR SNACKENSTEIN: And I would have gotten away with it too if it weren’t for you meddling podcasters!
CHIP: So I guess this is the end of our time together. I can’t believe the bags were half full on purpose.
BRIDGET: Yeah, more like bags half-empty- because it’s a bummer. So what are you gonna do now?
CHIP: Try and fulfill my destiny of finding someone who wants to eat me.
RYAN: OH, well if that's what you’re looking for, I’ve got just the guy for you.
CHIP: Would you really?
RYAN: You bet buddy.
CHIP: Au Revoir!!!!!!!
RYAN: MMM no skimping here. The pita chips are still delicious. Bridget, why don’t you do the recap, my mouth is full.
BRIDGET: Well, today we learned that Shrinkflation is a real thing. It’s when companies give you a little less product for the same price as before. It might happen when inflation goes up, or the costs of doing business get more expensive. Rather than raise prices, or you know, make less profit, companies just give you a little less of their products and hope their customers don’t notice.
RYAN: The public might be willing to cut companies some slack for shrinkflation, but that’s not the case with Skimpflation, when companies lower the quality of their products, but still sell them for the same price, with the intention of boosting their profits.
BRIDGET: In real life, sometimes it can be hard to tell the difference…is my favorite snack changing because of skimpflation or shrinkflation? Honestly, shoppers don’t always know why these things happen. Companies control the quantity and quality of their products. And it’s up to us, the buying public, to keep an eye on those products and make sure they are up to our standards. Gosh, Ryan I can’t believe you ate Chip.
RYAN: HE ASKED ME TO.
BRIDGET: Yeah I know, but there’s still something a little…disturbing about it.
RYAN: At least now he will always be with me. Can I get some water?
RYAN: That’s all for this episode of Million Bazillion!
BRIDGET: We have a new episode out next week. If you have a question you want us to answer, send it to us at marketplace dot org slash million, look for the Talk To Us button!
RYAN: Million Bazillion is produced by Marketplace from American Public Media. It’s hosted by me, Ryan Perez and Bridget Bodnar. Jasmine Romero wrote this episode.
BRIDGET: Our senior producer is Marissa Cabrera. Our intern is Perry Gregory. And special thanks to the folks who leant their voices to this episode: Sabri Ben Achour, Marissa Cabrera, Peter Ecklund, Francesca Levy, and Jasmine Romero
RYAN: This episode was sound designed by Sam Bair. And mixed by Charlton Thorp. Our theme music was created by Wonderly. Bridget Bodnar is the Director of Podcasts at Marketplace. Joanne Griffith is the Chief Content Officer. Neal Scarbrough is the VP and General Manager.
BRIDGET: Special thanks to The Ranzetta Family Charitable Fund and Next Gen Personal Finance for providing the start-up funding for this podcast, and continuing to support Marketplace in our work to make younger audiences smarter about the economy.
RYAN: If Million Bazillion is helping your family have important conversations about money, consider making a one-time donation today at marketplace-dot-org-slash-givemillion, and thanks for your support.
The Ranzetta Family Charitable Fund and Next Gen Personal Finance, supports Marketplace’s work to make younger audiences smarter about the economy. Next Gen Personal Finance is a non-profit that believes all students benefit from having a financial education before they cross the stage at high school graduation.
The Sy Syms Foundation: Partnering with organizations and people working for a better and more just future since 1985.
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