Bloomberg Businessweek
'Upflation' Is a New Retail Tactic Pushing Americans to Pay More
Jul 8, 2024
Bloomberg News Consumer Reporter Deena Shanker discusses 'upflation' in the personal care market, where companies raise prices with claims of higher quality. The episode explores how consumer behavior shifts in response to inflation, like buying frozen fruit over fresh, and companies' tactics to prevent consumer downgrades.
10:22
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Quick takeaways
- Companies use 'Upflation' to boost sales in personal care market by introducing more expensive products targeting broader body areas.
- Consumer behavior shifts towards prioritizing necessities and sustainability, impacting personal care and food market.
Deep dives
Impacts of Upflation on Consumer Goods Sales
Upflation is a marketing tactic adopted by major consumer goods companies like P&G and Unilever to boost sales in a declining market. By introducing new and more expensive versions of products like deodorants that target broader body areas, these companies aim to attract consumers to purchase more. Despite some skepticism from experts about the necessity of these products, companies report positive consumer responses and increased sales amid declining volume sales.
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