Sick Of Paying Too Much For Diapers? Another $ Hike Is Coming
This one is for parents. Are you already tired of paying high prices for diapers? For quite some time now, diapers have already been a huge expense. Unfortunately, it's about to get much worse.
According to a report from WHDH/7 News Boston, diapers are now getting more expensive, hurting low-income families even more. Families who have enough struggles already dealing with the pandemic-damaged economy.
Recently, several companies including Coca-Cola, Proctor & Gamble, and General Mills have announced price hikes due to a variety of factors such as port delays pinching supply chains, product shortages, and rising shipping costs.
Many of the goods that will be affected include baby-care items and paper products. Also, Coke products and coffee are likely to increase. Man, don't you dare raise the price of my coffee!
Earlier this week, Proctor & Gamble, makers of baby-care and feminine-care products such as Pampers, Tampax, and Always, announced that it had started raising the prices on many of their goods.
And according to the latest numbers from NielsenIQ which looks at sale data from retailers, diaper manufacturers, in general, are planning additional price increases. If stores choose to pass on those hikes to the consumer, that will further stretch the budgets of families.
Many companies have stated that sales have continued to rise, even from last year, when some people were stockpiling products at the beginning of the pandemic. While an increase in demand can only be looked upon as a positive for companies, demand is now outstripping supply and driving up prices.
Consumer interest is rising as the products are getting increasingly difficult to obtain because of a shipping-container shortage and port congestion.
According to Joanne Goldblum, chief executive officer of the National Diaper Bank Network, it costs about $80 a month to provide diapers for one child. Also, one in three American families struggled to afford diapers even before the pandemic.
For much more on the story, check out WHDH's website here.
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