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.