Big Take
The ‘Upflation’ Formula: Halve the Ingredients, Double the Price
Jun 27, 2024
Bloomberg consumer goods reporter Les discusses 'upflation' in consumer goods, where brands tweak products and raise prices. Topics include whole-body deodorants, inflation impact on prices, decline in personal care sales, introduction of premium products, and consumer shift towards sustainable consumption.
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Quick takeaways
- Upflation involves tweaking products and marketing for new uses to tap into consumer desires for premium items.
- Companies are innovating with eco-conscious products to minimize waste and cater to consumer demands for sustainability.
Deep dives
Uplation: Tweaking Products for New Markets
Companies have responded to declining sales of staples like razors and shampoo by introducing upflation, a strategy involving tweaking products and marketing them for new uses. The trend focuses on creating more specialized and expensive products to tap into consumer desires for premium items. Notably, whole body deodorant has gained traction, showing that consumers are willing to pay for innovative offerings like this.
