Warc, 23 June 2014
PARIS: Procter & Gamble, the FMCG multinational, plans
to address "chronic consumer issues" and to improve its existing
offerings by entering into new product categories, the company's chief
financial officer has revealed.
Speaking at the Deutsche Bank global consumer conference in
Paris, Jon Moeller said the move represented P&G's commitment to
innovation, productivity and focus, the Drum reported.
"Innovation creates value for consumers and for our
retail partners, it creates cumulative advantage, it combats commoditisation,
and it generates higher sales and profit per unit and creates value for share
owners," he said.
P&G, which currently organises its brands into four
global divisions – beauty, global health and grooming, family care and
household care – has not revealed what these new categories would be, but
Moeller said it would enter into a new category within the next six months.
He also informed delegates that e-commerce now accounts for
$2.5bn of P&G's $85bn in sales and that the sector is growing at the a rate
of between 30% and 40%.
The company aims to increase its e-commerce market share to
the same level as its physical store presence so that it is relevant wherever
consumers decide to shop.
"We're looking at both the entry of new categories as
well as the creation of new categories as a way to build our business,"
Moeller said, in comments reported by Cincinnati Business Courier.
"And that's particularly important and relevant in an
environment of slow market growth," he added.
Data soured from the Drum, Cincinnati Business Courier;
additional content by Warc staff
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