Shrinkflation this Easter: Not So Sweet
Consumer advocacy group CHOICE has been tracking the shrinkflation of Easter products, and the numbers aren't pretty. Cadbury's largest pack of hollow eggs cost $12.50 for 24 eggs in 2024. In 2025 that became $15 for 22 eggs. This year? $18 for 20 eggs. Three years, three price hikes, six fewer eggs. Aldi's hot cross buns dropped from 320g to 300g with no price change to match.
This is shrinkflation in action: the product shrinks, the price doesn't.
We wanted to know how Australians actually feel about it, so we surveyed a nationally representative group of 400 people.
The reaction is mostly anger and resignation
33% felt ripped off. 44% said they were disappointed but not surprised. Only 6% were understanding about rising costs. And for brands hoping this was flying under the radar: 69% of Australians say they have definitely noticed Easter chocolate products getting smaller, with a further 20% thinking so. That's 89% of the population clocking what's happening on the shelf.
When asked to describe Easter chocolate shrinkflation in their own words, the language was blunt: company profiteering was a top theme, with respondents calling it a "money grab," "manufacturer profiteering," and "deceitful price rise."
The rising prices and declining consumer sentiment is changing how they shop:
- 45% of Australians say shrinkflation has led them to buy less Easter chocolate this year.
- Women are driving the pullback at 50%, versus 40% of men.
- Lower income households are cutting back hardest: 52% of those earning under $75k said they're buying less.
And if someone found out their favourite Easter chocolate was 20% smaller than three years ago at the same price?
The category is at a trust tipping point
Our earlier snack category research found that 30% of Australians already see smaller pack sizes as shrinkflation rather than genuine product innovation, and 34% believe smaller packs are simply a way for brands to make more money.
So what can make consumers feel positive about their sweet treat choices? Fair pricing (46%), deals and timing (42%), and value for money (35%). Product size integrity, meaning they want what they paid for, came in at 30%. The bar for satisfaction has shifted: people want honesty as much as they want chocolate.
Easter chocolate is the most emotionally loaded aisle in the supermarket. Tied to tradition, family, and ritual. When brands chip away at that, even by a few eggs, even by 20 grams, they're not just losing margin protection. They're eroding trust.
It's a difficult position for brands to navigate, says FMCG industry expert James Deysel. "This is a tightrope. On one hand they face record inflationary pressure, with cocoa prices rising by up to 180% at the peak of the pricing cycle. On the other, retailers not only want to hold margins, they often want to grow them."
His prescription is transparency.
For brands looking further ahead, Deysel points to the automotive industry as a model. "Skoda, Volkswagen, Audi and Porsche are all made by the same company with similar features, yet they have very distinct brand positionings and pricing tiers. It's time for some lateral thinking about clearly-defined value tiers."
The message to brands is clear: consumers are watching, they're frustrated, and they have options. Meeting this moment with honesty, not just a smaller box, is the only way back.
