Giants have raised prices one after another, and the price increase trend in Europe and the United States has spread to the cosmetics industry

Due to inflation , Procter & Gamble recently announced that it will increase the prices of some common cosmetics, including beauty, skin care and oral care products. The price increase is caused by several factors , including the increase in material costs of ingredients such as resins and chemicals, as well as soaring freight prices.

P&G 's price increase was clearly carefully considered. A representative of the company revealed that " the timing , category, brand, and even product format of the same brand are very specific in these measures (price increases) . "

P&G Chief Financial Officer Andrew Schulten told investors that the price increases are expected to last until the first half of 2022, and in addition to household products, the price increases will also include baby care, feminine care and fabric care products. Schulten said P&G "will undoubtedly experience more volatility" and is preparing for "cost pressures and the continued impact of the global pandemic . " He said: "We believe this is a temporary difficult period that we need to overcome ."

According to Schulten, its raw material costs have increased by 30% to 200% compared to when the pandemic began in April 2020. Similarly , freight and fuel costs have also risen sharply . Increased demand for goods and a nationwide labor shortage have also led to a shortage of truck drivers.

Procter & Gamble is not the only commodity company facing inflation and supply chain constraints . Unilever, another giant in the industry, is also experiencing the same difficulties.

According to Unilever 's third-quarter financial report, the company has raised its product prices to the highest level in years , with the average price of its products increasing by 4.1% in the third quarter . Unilever CEO Alan Jope predicted that inflation will continue for at least 12 months and that its product prices will have to increase further as costs rise.

Unilever has been badly affected by the supply chain crisis in recent months, with Chief Financial Officer Graeme telling investors in June: "Inflation is affecting all of our input costs, including materials, packaging and especially freight and distribution costs. "

Information from various sources shows that the current inflation in Europe and the United States will continue for a long time. Will sellers choose to raise prices?

cosmetic

Procter & Gamble

Unilever