The Economics of Everyday Things
00:04:25 · Peter Miskell, Zachary Crockett
[00:04:25] S4: Sugar went from being a luxury in pre industrial times to much more of a staple. New industrial food products created a problem of dental hygiene that hadn't existed in anything like the same way previously. [00:04:41] S2: In the wake of industrialization, there was a sharp rise in dental disease, and researchers came to understand that processed sugars and carbohydrates caused a buildup in plaque. That's a sticky film of bacteria that leads to decay. [00:04:56] S4: Once that became established, the response really was to encourage the act of brushing. And a number of early toothpaste brands emerged as, you know, here's a product that will make the process of brushing your teeth a little bit more enjoyable. [00:05:08] S2: One of the first to pounce on this trend was Colgate and Company, a New York based manufacturer of candles and soaps. In 1873, it started to sell an aromatic toothpaste. It tasted like detergent and was packaged in jars. [00:05:25] S4: The family would share the jar. They'd each be dipping their brush into this, And you can just imagine the scenario.
00:05:25 · Peter Miskell, Zachary Crockett
[00:05:25] S4: The family would share the jar. They'd each be dipping their brush into this, And you can just imagine the scenario. [00:05:33] S2: In the eighteen nineties, the toothpaste tube was developed, giving consumers a more sanitary option. Colgate emerged as a market leader by handing out millions of tubes at schools and spending heavily on marketing. At first, toothpaste was prohibitively expensive. It cost the equivalent of half a day's wages for a laborer. But as mass production ramped up, it became less of a luxury and more of an everyday necessity. By the 1930s, toothpaste could be found in 65% of American households. [00:06:08] S4: It went from being a product that most people had never heard of to a household staple that most people would have had in their bathrooms or in their cupboards. [00:06:19] S2: Initially, toothpaste was marketed as a cosmetic product with social benefits. It made your breath smell good, gave you a nice smile, and made people wanna interact with you. There wasn't any proven health benefit to toothpaste. That came from the act of brushing, not the paste itself. [00:06:37] S4: It was more use this product, it'll make you feel better about yourself. Kind of a classic example of a product that you didn't really need. So the question is, how do you create that sense of a product being just more than a commodity?
00:06:37 · Peter Miskell, Zachary Crockett
[00:06:37] S4: It was more use this product, it'll make you feel better about yourself. Kind of a classic example of a product that you didn't really need. So the question is, how do you create that sense of a product being just more than a commodity? [00:06:52] S2: The answer came in the nineteen fifties when Procter and Gamble released Crest, the first widely commercialized toothpaste to use fluoride. Fluoride is a natural mineral that prevents tooth decay. And for the first time, toothpaste became not just a cosmetic product, but one with real health benefits. After gaining an endorsement from the American Dental Association, toothpaste achieved scientific credibility. [00:07:19] S4: Their sales rocketed, and they continued to dominate the market for several decades. [00:07:25] S2: Today, the market is still dominated by Colgate and Crest, the original titans of toothpaste. [00:07:32] S4: The leading players, they're the really big consumer goods giants. It's really the advertising spend that probably keeps a lot of others out of that space. It's the distribution infrastructure that sits behind that. It's being able to get shelf space with the big retailers in the prime locations. [00:07:50] S2: Toothpaste may seem like a simple product, but behind every ingredient, the abrasives, the foaming agents, the flavorings, there's a complex and precise scientific process, and it has to be pulled off at astronomical scale.
00:07:50 · Zachary Crockett, Stefan Habif
[00:07:50] S2: Toothpaste may seem like a simple product, but behind every ingredient, the abrasives, the foaming agents, the flavorings, there's a complex and precise scientific process, and it has to be pulled off at astronomical scale. [00:08:06] S3: Some of our most efficient factory, you see 1,000 tubes a minute going down the line, being filled. Literally, your eye cannot capture the moment it goes that fast. [00:08:18] S2: That's coming up.
00:08:22 · S1
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00:10:34 · S5, S6, Zachary Crockett
[00:10:34] S5: Who knew Walmart Business could help a bustling school district stay on budget? Principal Lewis knew. He uses Walmart Business to easily get the items his elementary school needs. [00:10:42] S6: Our tax exempt status works online and in store. And with our tight budgets, they have everything we need at prices I love. [00:10:48] S5: Expense management tools help him stay on top of what he's spending. [00:10:51] S6: I keep track of hundreds of things every day. Jenny, get out of there. Thankfully, Walmart Business lets me keep track of all our expenses in one place. Aaron, don't need that. Michael? Uh-uh. [00:11:00] S5: It's Walmart, built for your business. Who knew? Eligible organizations. Additional terms apply. [00:11:09] S2: Walk down the oral care aisle at a drugstore, and you'll find dozens of different toothpaste formulas. Some extol therapeutic advantages, like extra cavity protection. Others promise cosmetic benefits, like whitening. There are toothpastes in all different flavors, toothpastes for kids, toothpastes for people with sensitive teeth. There's Max Clean, Max Fresh, Double Fresh, Triple Action, Sparkling White, Optic White, Optic White Renewal, on and on and on. Many of these variations are sold by Colgate, and they all come across the desk of Sergio Leite.