P&G Recalibrates ‘Irresistible Superiority’ As Economy, Competition Tighten
Procter & Gamble R&D aims to answer demand for "instant gratification" while the firm works to educate consumers on proper use of products for better experiences and improved brand loyalty, among other tactics discussed in its 17 November Investor Day presentation.
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Demand for OTC pain relievers and cough/cold products jumped prior to October-December and remained high during quarter due to consumer concern not only about flu but also RSV and additional COVID-19 mutation. US and Canadian firms marketing OTC drugs and supplements also will be offering additional signals on planned spinoffs of consumer health businesses.
P&G reported 7% organic and 1% net sales growth in latest quarter to $20.6bn. Analysts projected organic growth of 5.5% and saw results as indicator firm’s execution strategy, which includes cutting back on costs, is working.
P&G will provide additional detail at its November Investor Day, but says Supply Chain 3.0 is an adaptation to the new normal that will unlock efficiencies and enable reinvestment in brands.