New, cheaper detergent aims to brighten Tide sales
The 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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