(NEXSTAR) – Get ready for a $10 toothpaste. That’s the price of the new 3-ounce tube of Colgate whitening toothpaste.
Colgate-Palmolive CEO Noel Wallace announced the product at a consumer and retailer conference last week, calling the premium products “vital” to the company’s ability to raise prices.
“We are launching the Optic White Pro series in the United States, the first 5% hydrogen peroxide toothpaste with proven effectiveness in whitening teeth,” Wallace said. “We are very excited about this launch, which you will see on shelves next month.”
The toothpaste is the company’s first with a suggested retail price of $10 and is already available at Walmart, Rite Aid and other stores. Colgate claims the toothpaste can remove “15 years of stains” when used at least twice a day for two weeks, but did not respond by posting time to Nexstar’s warranty inquiries.
Colgate offers a wide range of teeth whitening products, from an overnight “whitening pen” that sells for $25 at Walmart to an advanced LED whitening kit listed for $110 on Colgate’s website.
It remains to be seen what demand for high-end toothpaste will look like as many Americans see their finances strained by inflation.
A tangled supply chain from the COVID-19 pandemic and, potentially, the Russian invasion of Ukraine, has prompted some companies to raise prices.
Earlier this year, Amazon announced it was raising the price of its Prime subscription, in part to offset shipping costs. In November 2021, Dollar Tree announced a similar price hike, dropping most of its $1 items to $1.25.
Soaring prices for consumer goods were a main topic of President Biden’s State of the Union address on Tuesday after prices jumped 7.5% from January 2021 to January 2022, according to the labor department.
“Too many families are struggling to keep up with the bills,” Biden said. “Inflation robs them of the gains they might otherwise feel. I understand. This is why my absolute priority is to control the prices.
A recent NewsNation/Decision Desk HQ poll found that 88% of Americans said they were at least somewhat concerned about inflation, while 55% said it was a bigger issue than COVID-19. or unemployment.
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