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Reuters
Tide maker P&G dialing up discounts as US consumers pull back
Makers of consumer products like P&G, a bellwether for the industry, are relying more on discounting to stay competitive as shoppers look to cheaper alternatives to stretch their budgets. 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 Inc are also pushing suppliers to cut prices. The new discounts are a reversal from last year and during the pandemic, when demand kept up for household goods despite double-digit price increases.
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