Doing laundry is a drag. But after two years of price hikes on detergent, U.S. consumers may finally get some relief as Procter & Gamble Co deepens discounts on Tide, one of its biggest brands, according to a Reuters analysis of NielsenIQ data.
Tide laundry detergent is shown on display in Compton, California, U.S., January 10, 2017. REUTERS/Mike BlakeNEW YORK, April 20 - Doing laundry is a drag. But after two years of price hikes on detergent, U.S. consumers may finally get some relief as Procter & Gamble Co
The costs of ingredients and inputs for consumer goods, like pulp and fuel, are falling in some cases, allowing manufacturers to ease up on price hikes and offer more promotions, while retailers including Walmart IncMilder inflation could be welcome for investors and consumers after a period of fast-rising prices led to steep interest rate increases by the U.S. Federal Reserve.
The amount the company sold with price promotions ticked up in 12-week periods ending in early December through the end of March compared to the same time the prior year.Discounts ramped up significantly on its costlier detergent pods like Gain flings! and Tide pods, according to the data. They said that they would rather spend on research and development, or on building brand-name recognition, than on promotion, "every day of the week," according to the note.
"If there’s more discounting, there’s more headwinds for margins," said Tom Mullarkey, senior equity research analyst at Thrivent, a P&G investor.“We’ll follow the category lead,” said Alison Whritenour, the CEO of Seventh Generation, rival Unilever PLC’s Circana found consumers are ditching more expensive premium products in categories like razors, detergent and paper towels that they frequently bought during the pandemic, another factor leading to heavier discounting.
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