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P&G (Procter & Gamble) saw a 5% increase in revenue, and credits this to the company's "doubling" of marketing and innovation over the past year.
P&G believes it is “well-positioned to serve the higher demand Denmark Phone Number List and newer consumer behavior” thanks to the foundations it laid before the crisis and its continued investment in innovation.
Speaking on a call with analysts following the Q3 results, Chief Financial Officer (CFO) Jon Moeller said:
“We will well manage what could be short to medium term volatility, consistent with the strategy we have outlined, prioritizing the health and safety of our employees, maximizing the availability of our products to serve hygiene and health needs, thereby helping society to overcome the challenge of this crisis.”
The FMCG giant says its strategy of focusing on "preeminence, productivity, breaking the old, improving P&G's organization and culture" is helping deliver "balanced growth" and creating long-term value.
Moeller optimistically stated that P&G has "raised" in every way to become "beyond" its competitors, saying:
“We are moving forward, we are redoubled efforts to serve our consumers and our community.”
For example, the company has invested in refreshing the packaging of existing products and launching new ones.
Moeller said the FMCG giant is focusing on boosting the production of everyday-use product categories, where "performance plays an important role in brand selection".
These innovations have contributed to more than 35% market growth for some online categories, he said.
For example, P&G has improved the absorbency and comfort of its Pampers line of diapers, which are delivered to consumers through packaging and store displays.
“We're moving forward, we're doubling down on things to serve our consumers and our communities. We are doing this for our benefit, the good of society, and the benefit of our long-term shareholders.”
E-commerce skyrocketed.
P&G recorded an increase in e-commerce sales of about 50% and now accounts for 14% of the company's global sales.
However, Moeller said brick-and-mortar stores are still important to ensure its brands remain competitive in markets where Covid-19 restrictions are easing.
But the company said it will continue to innovate in the field of eCommerce to ensure it maintains its competitive edge.
Mr. Moeller said:
“We need to tailor services in a way that best serves e-commerce and digital commerce.
An example of one of the things we're doing is packaging, especially for liquid products, where we make sure those products are well protected during their journey to the consumer's home.”
P&G's quarterly net revenue rose 5% year-on-year to $18.1 billion (£13 billion), thanks to a 4% increase in organic sales.
Beauty products were the biggest sales drivers, with a growth rate of 9%, and the fabric and home care category increased by 8% due to growing demand for beauty products. clean to order at home.
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