Companies and Brands
Food Brands Lose Ground As The Consumer Seeks Value
Published:
Last Updated:
If consumer spending on inexpensive items is supposed to be a foreshadowing of an improving economy, better days are still a long way off.
Unilever, one of the largest consumer goods companies in the world, said its profit fell 45% to $973 million. The firm said that its results had been materially effected by people buying the least expensive, non-branded food and toiletry products that they can find.
The results of Unilever, Colgate (CL), and P&G (PG) are probably as good a leading economic indication as economists can find. As long as consumers believe that they cannot pay a dollar more for a branded bar of soap or can of soup, they are not likely to be in the market for a car or a refrigerator. Those more expensive items are only going to be purchased when they need to be replaced.
Unilever’s results are a fairly good weather vane. The economy may not be stabilizing as quickly as most analysts think.
Douglas A. McIntyre
The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.
Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!
Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!
Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.