Though the price for packs of Procter & Gamble‘s (PG) Luvs and Pampers diapers won’t be going up, parents will still find their wallets lighter in the long term.
That’s because the consumer products giant is cutting the number of diapers on each package. Beginning with packages shipped on September 16, the number of diapers in a 140-pack box will drop by eight. While the price for the package remains the same, each diaper inside will now cost 6% more. Other packs will see similar cuts. Overall, the downsizing move will raise prices between 5% and 7% across all Pampers and Luvs packages, the Wall Street Journal notes.
Diapers are a huge business for Procter & Gamble. It’s high-end Pampers brand generates more than $10 billion in annual revenue.
The move comes as the company looks to boost margins as part of an effort by new CEO A.G. Lafley to improve results.
Procter & Gamble says it has increased the absorbency of the diapers, leading to the high price per diaper. The company last hiked diaper prices in 2011, raising them by about 7%.
Last month, Procter & Gamble launched a new home pregnancy test, which can assess whether a woman is pregnant and provide a rough estimate of how many weeks have passed from her last ovulation.
Shares of Procter & Gamble edged fractionally higher in Monday pre-market trading.