THE WHAT? Procter & Gamble has announced it is to increase prices of its grooming, oral and skincare products in the U.S. in a bid to offset higher commodity and freight costs, which are set to take a chunk out of its earnings, according to a report by Reuters.
THE DETAILS The price hikes follow on from mid to high single digit rises earlier this year, on products such as Always sanitary towels and Pampers diapers.
Talking on a media call, P&G CFO Andre Schulten stated that the cost increases would be marked for specific items such as razors, rather than being implemented broadly.
THE WHY? Companies are struggling to offset the costs of a failing supply chain, which is under pressure due to factors such as COVID-19 in Asia, labor shortages in the U.S. and Brexit in the UK.
Raw material prices are continuing to rise as a result, with companies starting to pass on the higher costs to the consumer.
Schulten said, “We do not anticipate any easing in these commodity cost pressures. We expect pricing to be a larger contributor to sales growth in coming quarters as more of our price increases become effective.”
Aesthetic medicine products are developed and regulated to meet stringent safety and efficacy standards. They are typically administered by trained healthcare professionals such as dermatologists, plastic surgeons, and specialized nurses in clinical settings. These products aim to provide effective solutions for cosmetic enhancement, skin rejuvenation, and overall aesthetic improvement, contributing to both physical appearance and self-confidence.
Key categories of aesthetic medicine products include:
-
Injectables: This category includes products such as dermal fillers, botulinum toxins (e.g., Botox), and collagen stimulators. These injectables are used to smooth wrinkles, add volume, and improve facial contours.
-
Skin Rejuvenation Treatments: Products like chemical peels, microdermabrasion systems, and laser devices are used to improve skin texture, reduce pigmentation irregularities, and enhance overall skin tone.
-
Skincare Products: These include medical-grade cleansers, moisturizers, serums, and topical treatments containing active ingredients like retinoids, antioxidants, and growth factors. They are formulated to address specific skin concerns such as acne, aging, and hyperpigmentation.
-
Hair Restoration Products: Medical treatments and products designed to promote hair growth and treat conditions such as male and female pattern baldness.
-
Body Contouring and Fat Reduction: Devices and products used for non-surgical body sculpting, such as cryolipolysis (cool sculpting) devices and injectable lipolytics.
-
Cosmeceuticals: High-performance skincare products that bridge the gap between cosmetics and pharmaceuticals, often containing potent ingredients with proven clinical benefits.
-
Wound Care and Scar Management: Products like silicone sheets, gels, and advanced wound dressings used to improve healing and reduce the appearance of scars.
