A budding price war is working out well for consumers, with prices on common household items, from razor blades to toilet paper to diapers, seeing price drops.
Proctor & Gamble announced Tuesday that the average prices of its products in the past quarter fell for the first time since 2011. That’s putting pressure on Kimberly-Clark, which announced a broad restructuring that would eliminate over 5,000 jobs.
Both manufacturers have seen a market slowdown in recent months—and in order to win back customers, P&G last year began widespread discounting, initially in its razor division to compete with companies like Dollar Shave Club, and later in the healthcare and household goods areas.
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Those price cuts are affecting sales at competitors including Kimberly-Clark and Johnson & Johnson, which is forcing them to adjust pricing as well.
The declining U.S. birthrate is also a factor, pushing demand for items like diapers lower, which is resulting in further price cuts. Kimberly-Clark, which manufactures the Huggies diaper brand, says the situation is not as bad as it was in the 1990s.