(NEXSTAR) – Brace yourself for $10 toothpaste. That’s how much Colgate’s new 3-ounce tube of teeth-whitening toothpaste costs.
Colgate-Palmolive CEO Noel Wallace announced the product at a consumer and retail conference last week, calling premium products “vital” to the company’s ability to raise prices.
“We are launching the Optic White Pro Series in the U.S., the first five-percent hydrogen peroxide toothpaste with demonstrated efficacy to whiten teeth,” Wallace said. “We’re very excited about this launch, which you will see on shelves next month.”
The toothpaste is the company’s first with a $10 suggested retail price, 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 publishing time to Nexstar inquiries about any guarantees.
Colgate offers an extensive lineup of teeth whitening products, ranging from an overnight “whitening pen” that markets for $25 at Walmart to an advanced LED whitening kit listed at $110 on Colgate’s site.
It remains to be seen what demand will look like for premium toothpaste as many Americans see their finances squeezed by inflation.
A supply chain tangled by the COVID-19 pandemic, and, potentially, the Russian invasion of Ukraine, have prompted some businesses to boost prices.
Earlier this year Amazon announced it was raising the price of its Prime membership, partly to offset transportation costs. In November, 2021, Dollar Tree announced a similar price hike, bumping most of its $1 items to $1.25.
The spiking cost of consumer goods was a main topic of President Biden’s State of the Union address 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 is robbing them of the gains they might otherwise feel. I get it. That’s why my top priority is getting prices under control.”
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.