Wall Street thinks giants like Clorox have an impenetrable moat. They are confusing a lazy marketing narrative with actual functional utility.

Our data shows that consumers can switch to unbranded bleach or even bulk vinegar for $0 switching cost and get the exact same utility. When budgets tighten, the brand premium evaporates.

We are publishing our position: the perceived brand moat in commodity cleaning is an illusion. You either believe consumers keep overpaying for basic commodities by 2027, or you don't.

Read the full deep dive here: