We all know consumers are becoming more tight-fisted as a second recession looms. But who knew that the extra money reserved for diapers could count as disposable income?
In the latest sign that consumers are becoming more frugal, recent data from Consumer Edge Research shows that diaper sales are slowing while sales of diaper-rash ointment are rising, according to The Wall Street Journal.
Dollar sales of diapers in the four weeks ending Sept. 4 fell 4% at Huggies maker Kimberly-Clark Corp., while Procter & Gamble, which makes Pampers and Luvs, saw its diaper dollar sales drop 2.5%. Even sales of private-label nappies slipped. Meanwhile ointment sales rose 8%.
Spending on children normally holds steady when times are tough. Parents don't want to skimp on their children's hygiene or happiness. The latest trend is a rare occurrence, says Consumer Edge.
Then again, when before has a global financial crisis hung on so long?
Hanes Promotes Moss to CFO (Retailing Today)
HanesBrands announced the promotion of its treasurer Richard Moss to the role of chief financial officer. Moss was chosen to fill the open CFO position after an extensive review of internal and external candidates.
Retailers Adapting to Tough Times (WSJ)
With consumer confidence at a near-record low, more retailers and manufacturers are figuring out how to appeal to frugal shoppers with layaway programs and discount cards.
Fortune's Geographic Plans (WSJ)
Fortune Brands Home & Security, a newly spun-off maker of kitchenware and locks, wants to increase overseas sales to reduce dependence on the U.S. market, the company's chief executive officer told The Wall Street Journal.
Binder's Return to ESPN (FINS)
FINS spoke with Steven Binder, vice president and publishing director at ESPN, about building a career in magazines, taking a break, and getting back in.
Hearst Grabs Sales Exec from Meredith (Adweek)
Maureen Polo, managing director of Meredith's marketing unit Meredith 360, is heading to Hearst as a top sales executive.
Specific Media Fails to Woo Advertisers (Ad Age)
Myspace's new owners gave advertisers an exclusive, invite-only look at its new marketing strategy during Advertising Week, but the turn-out was lower than expected.
Buzz Around the Office
Remember the good old days of Zack Morris and his gigantic cell phone? Bet Steve Jobs does.
List of the Day: The Do's and Don'ts of Business Cards
1. Do: consider going virtual
2. Don't: keep outdated cards
3. Do: keep it simple