Inflation Nation

by | Apr 6, 2023

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Retailers have a new plan to fight inflation, big spenders. I’m Brian Banmiller on Business.

Don’t be surprised if you start finding more high-end items on grocery store shelves. Companies from toothpaste makers to discount retailers are adding more premium items as they try and make up for lost revenue thanks to rising prices. So, according to market researchers, companies are hedging their bets by chasing after the upper income consumers that means $10 toothpaste or $90 face cream taking up space that was once occupied by cheaper options. And while this could leave consumers on a budget with fewer options, it could mean those with an expendable income shell out more cash. And the upgrades are everywhere. Heinz-57 recently released a line of condiments including honey infused with black truffle that costs around $7. Five Below, a chain known for selling items for $5 or less is converting some stores to Five Beyond. At those locations, items will be sold for $6 or higher. AMC Theaters is going to start charging for better seats. Catering to the well-off, to rake in big bucks. Brian Banmiller, CBS News. 

Brian Banmiller

About Brian

CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.

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