Ohio

These toiletry items may soon become more expensive

Procter & Gamble, one of the country’s largest consumer goods manufacturers, announced on Tuesday that it will raise prices for certain grooming, beauty and oral care products for retail customers to counter rising costs. Other major consumer manufacturers and stores are also raising prices in response to rising raw material and shipping costs. P & G has informed distributors and retailers of the latest price increases over the past few weeks and has announced that it will take effect around the next 90 years. If P & G retail customers, including big-box stores, supermarkets, drug stores, etc., decide to take over these increases, they will soon hit the consumer’s wallet. P & G creates brands such as Gillette, Braun, and SK-II does not identify grooming, beauty, or oral care brands that are raising retailer prices. However, emails from P & G to distributors obtained by CNN show that Olay, Crest, and Oral-B products will be more expensive, at least for retailers. The exact price increase will vary depending on the particular item, but will be in the medium term. “The degree and timing of these movements is very specific to the category, brand, and sometimes the product form within the brand,” Andre Schulten, chief financial officer of P & G, called with an analyst on Tuesday. Not One-P & G sent an email on October 11th, raising the price of Olay Regenerist Max by 6.1% on January 11th, Regenerist Ultra Rich and Regenerist Ingredient Collections 3.5%, Olay, according to one distributor. Age Defy Moisturizers are 15.3% to 19.3% and Olay Complete Moisturizers are 15.3% to 19.8%. Distributors shared emails on anonymous terms to protect their relationship with P & G. P & G also shared this email. We warned distributors to raise the price of certain varieties of Crest and Oral B mouthwash by 12% to 32.5% and battery toothbrushes by 4% to 4%. 20%, electric toothbrushes 10%, some The price of grooming products is a weighted average of 11%. P & G does not say which grooming items will be more expensive. “This price increase is the input cost incurred when the price of the product rises. It’s about dealing with certain parts of inflation, “P & G said in an email. , P & G announced in September that they raised prices for brands such as Pampers diapers and Always and Tampax tampons. Schulten said Tuesday that P & G raised prices in nine of the ten categories in its product lineup. Costs are rising at a faster pace than P & G previously estimated. P & G currently expects to spend an additional $ 2.3 billion on freight and commodity costs for fiscal year 2022. Schulten predicted in July that such costs would increase by $ 1.9 billion. “Since we showed our initial outlook this year, input costs have continued to rise,” Schulten said. Grocery chain Albertsons also noted on Monday that consumers are not adjusting their shopping behavior in response to rising prices. “There were no significant changes in customer behavior,” CEO Vibeck Sankaran said in a phone call with analysts. “I don’t think their intentions will change dramatically in the coming weeks or months.”

Procter & Gamble, one of the country’s largest consumer goods makers, said Tuesday that it would raise prices for certain grooming, beauty and oral care products for retail customers to counter higher costs.

This is the latest price increase announced by the company. Other major consumer manufacturers and stores are also raising prices in response to rising raw material and shipping costs.

P & G has informed distributors and retailers of the latest increases in the past few weeks, saying they will take effect within approximately 90 days.

If P & G retail customers, including large supermarkets, supermarkets, drug stores, etc., decide to take over these increases, they will soon hit the consumer’s wallet.

P & G, which manufactures brands such as Gillette, Braun, and SK-II, did not identify grooming, cosmetology, or oral care brands that are raising retailers’ prices. However, emails from P & G to distributors obtained by CNN show that Olay, Crest, and Oral-B products will be more expensive, at least for retailers.

Andre Schulten, chief financial officer of P & G, said in a phone call with analysts on Tuesday that the exact amount of the price increase will vary depending on the particular item, but will be in the mid-single-digit percentage range.

“The degree and timing of these movements is very specific to the category, brand, and sometimes the product form within the brand. This is not a one-size-fits-all approach,” he said.

According to a distributor with a store, P & G will send an email on October 11th to raise the price of Olay Regenerist Max by 6.1%, Regenerist Ultra Rich and Regenerist Ingredient Collections by 3.5%, and Olay Age Defy Moisturizers on January 11th. I notified you that. 15.3% to 19.3%, Olay Complete Moisturizers 15.3% to 19.8%. Distributors have shared emails on condition of anonymity to protect their relationship with P & G.

P & G also told the distributor that some varieties of Crest and Oral-B mouthwash will be priced 12% to 32.5%, battery toothbrushes 4% to 20%, electric toothbrushes 10%, and some grooming. Warned to raise the price of. Product with a weighted average of 11%. P & G does not say which grooming items will be more expensive.

“This price increase is to address certain parts of the input cost inflation that occurred when commodity prices rose,” P & G said in an email.

P & G declined to comment.

Earlier, P & G announced in September that it raised prices for brands such as Pampers diapers and Always and Tampax tampons. Schulten said Tuesday that P & G raised prices in nine of the ten categories in its product lineup.

Costs are rising at a faster pace than P & G previously estimated. P & G currently expects to spend an additional $ 2.3 billion on freight and commodity costs for fiscal year 2022. In July, the company forecast an increase of $ 1.9 billion at these costs.

“Since the initial outlook for this year, input costs have continued to rise,” Schulten said.

Despite the high prices, consumers haven’t changed their shopping patterns by buying fewer P & G products, he said.

Albertsons, a grocery chain on Monday, also said consumers aren’t adjusting their shopping behavior in response to rising prices.

“There were no significant changes in customer behavior,” CEO Vivek Sankaran said in a phone call with analysts. “I don’t think their intentions will change dramatically in the coming weeks or months.”

These toiletry items may soon become more expensive

Source link These toiletry items may soon become more expensive

Related Articles

Back to top button