Assessing consumers perception of shrinkflation in nigeria and its implication for sustainable development

Abstract

We live in a society where people pay more to get less for most of the consumables, this has had a major impact on household poverty in Nigeria in recent times where you have to pay more to still get a lower quantity of an item. The study assessed the perception of consumers towards shrinkflation in Nigeria. Two research questions guided the study,(a) to know if the concept of shrinkflation exists in Nigeria and (b) to know if age and job status will affect their perception of shrinkflation. The study selected N= 330 adults from Lagos Central Senatorial District of Lagos state. The participants were all adults in schools, formal sector, and informal sectors in Lagos. The study used already standardized Shrinkflation Awareness Scale by Mbewu to explore the variables. The data collected was analyzed with SPSS v29, with descriptive and inferential statistics. The descriptive statistics showed that people are aware of the downsizing of consumables and a large number agreed that it is a deceptive business practice to cheat the consumers. The demographic variables were not significant thus implying that all ages and all the sectors are feeling the effects of shrinkflation. The study concluded that the effect of the inflation that is currently affecting Nigeria is affecting and increasing poverty level because the cost of items is increasing yet the quantity is also reducing. The study recommended that the government should ensure that regulatory agencies play their roles in supervising the activities of the manufacturers to promote the development of Nigeria.