Gas prices curb consumer spending, driving demand for smaller packs and promotions, says Procter & Gamble

Procter & Gamble reported a 3% sales increase in the latest quarter despite economic pressures, highlighting that rising gas prices are causing consumers to opt for smaller pack sizes and seek promotions. The company noted a split in consumer behavior, with wealthier households continuing to buy larger packs while more pressured consumers adjust spending due to higher fuel costs. P&G also saw a 6% rise in eCommerce sales, especially in Greater China, signaling growth in digital channels. This trend mirrors broader market shifts, with other retailers like Albertsons observing cautious spending and a move toward value products among lower-income shoppers.