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New, cheaper detergent aims to brighten Tide sales
CommentsThe Procter & Gamble Co. is trying out a lower-cost version of its Tide laundry detergent in a bid to churn up new sales in the recession.
“Tide Basic” is hitting shelves in some 100 Wal-Mart and Kroger Co. stores in southern and southwest U.S. states. P&G spokesman Kash Shaikh said Wednesday that the new Tide laundry powder product sells for some 20 percent less than the regular Tide.
The six-decade-old Tide brand has more than $3 billion in annual sales, but it and other P&G products have lost sales to cheaper alternatives as households tighten spending.
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We welcome comments. Please keep them civil, short and to the point. ALL CAPS, spam, obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. Thanks for taking part — and abiding by these simple rules. A thorough explanation of rules of conduct can be found in our Terms of Service.
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