This has been happening for years though with companies that have been putting out goods for decades. For one reason or another they might go looking to change ingredients and materials to save more and make more money.
But it isn't always beneficial to go with the cheapest and lowest quality ingredient that can be found. And diverting too far from the original product could possibly spell disaster with customers not embracing the changes. But in general there are many who might not ever notice that they are getting less or a different ingredient altogether, that's why it works so well.
It can be done with just about any product and new reports recently suggest that there are some already seeing this rapid change thanks to rising inflation in the market.
For example toilet paper packages might be seeing less product included in the package overall thanks to some shrinkflation, as a result of increasing prices. It might not be the only product in the market either. Pretzels, conditioner, sports drinks, and other items, they are all right now said to be facing the same shrinkflation, with a cut in goods to save on the increase in prices around the market.
Finance experts have warned customers that for those things you do buy regularly at the store, when you find them on sale and you stock up that you are likely to see immediate savings from paying that higher price than you would have had you not found them on sale. Likewise, for items you know you will use 2 or 3 years form now purchasing many now and if they don't expire then stocking up on those too could also save on quality or in price, given how fast things are changing surrounding inflation these days.
For now many customers aren't likely to notice a small quantity missing from their shampoo, bacon, or bag of chips.
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Sources:
https://www.deseret.com/2022/3/8/22967330/grocery-store-cookies-toilet-paper-shrinking-smaller-shrinkflation
https://www.bloomberg.com/news/videos/2022-03-09/soaring-prices-trigger-the-return-of-shrinkflation-video
https://www.koaa.com/news/news5-investigates/shrinkflation-is-happening-but-what-is-it
