Procter & Gamble

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The 300 companies on this year’s list brought in over $12.6 trillion in revenue for the latest 12 months, with the median revenue figure at $22 billion.

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Industries included in the sector are home equipment and furnishings and household and personal products.

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The corporations on our annual list of the world’s largest companies delivered a record $41 trillion in aggregate revenues.

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The consumer packaged goods giant Procter &amp; Gamble, famous for products ranging from Tide detergent to Pepto Bismol, saw revenue increase 5% in 2022, to $80.2 billion. 
<ul> 
 	<li>As inflation raged in 2022 and into 2023, P&amp;G was among the most prominent companies criticized by consumer activists for “greedflation,” as it repeatedly raised prices for consumers in attempts to offset its own rising costs.</li> 
 	<li>P&amp;G raised its year-end sales outlook in April 2023 from a 1% decline to a 1% increase, a sign it believes it’s turned the corner on inflation.</li> 
 	<li>The company is diversifying away from traditional retail channels; its e-commerce sales grew 11% in 2022 and now make up 14% of total sales.</li> 
</ul>

Just as it dominates our economy, Big Tech now dominates Fortune’s annual ranking of corporate reputation.

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Aggregate sales hit $37.8 trillion last year—an increase of 19%, the highest annual growth rate in the list’s history.

This year’s Fortune 500 marks the 68th running of the list.

F500 2022-Procter and Gamble

Procter &amp; Gamble makes and sells familiar household brands such as Tide laundry detergent, Gillette razors, Crest toothpaste, and Old Spice deodorant. Like other consumer goods giants, P&amp;G has faced a tricky balancing act: It is benefiting from rising sales in a recovering economy (it brought in $76.1 billion in revenue in its last fiscal year, a 7.3% increase from the year prior) while also striving to protect its profit margins from inflation. The company also faced a potential self-inflicted wound going into 2022: The detection of benzene, a potential carcinogen, in some of its aerosol deodorants led P&amp;G to institute a recall in November 2021, and the problem has since prompted multiple lawsuits.

After a year in which humanity leaned more heavily than ever on tech giants, see which companies topped Fortune's ranking of corporate reputation.

WMAC 2021-21-Procter and Gamble

Total revenue for the world’s biggest companies fell 4.8% to $31.7 trillion this year—the first decline in half a decade.

G500 128 Procter & Gamble

The consumer products giant emerged from the COVID-19 crisis with strong profits, exceeding its own fiscal year 2020 goals with 6% organic sales growth and 13% core earnings-per-share growth. That was partially thanks to a spike in demand for home-goods brands like Charmin, Bounty, Downy, and more. Procter &amp; Gamble experienced a substantial leap in revenue almost across the board, including net sales of $19.7 billion in the second quarter of fiscal year 2021, up 8% from the year before. P&amp;G’s share price has weathered market volatility, rising 15.4% from March 2, 2020, through May 24, 2021. The company even increased its quarterly dividend by 10% in April 2021, making this the 65th consecutive year that P&amp;G has boosted its dividend.

This year’s Fortune 500 marks the 67th running of the list.

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For an astounding 13th straight year, Apple claims the top spot in Fortune’s annual ranking of corporate reputation, based on a survey of almost 3,800 executives, directors, and analysts.

This year's Fortune Global 500 generated $33.3 trillion in revenues and $2.1 trillion in profits.

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The consumer products giant emerged from a major reorganization in 2019 and ended the calendar year with an optimistic outlook for investors across the board, including net sales of $17.8 billion in the first quarter of fiscal year 2020, up 7% from the year before. What would be welcome news during normal times became a bulwark in the age of the novel coronavirus. P&amp;G’s share price weathered the stock market volatility that marked the early weeks of the pandemic’s spread, and even as other companies cut their quarterly dividends, P&amp;G made its payout for its 64th consecutive year.

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Global business is back. After limping through a worldwide financial crisis and economic slowdown, the 500 largest companies ranked by revenues shattered all sorts of performance records in 2013: They racked up combined revenues of $31.1 trillion, up 2.5% from 2012, and profits soared 27% to nearly $2 trillion. China’s 95 companies (up from 89 last year) posted $5.8 trillion in revenues. The U.S. has four fewer companies on the list than last year but remains (for now) the country leader, with 128 corporations on the list—including No. 1 Wal-Mart Stores—reporting $8.6 trillion in revenues. 

Wal-Mart stayed on top as its sales crept closer to half-a-trillion dollars. Apple moved into the top five. And UnitedHealth Group continued its steady climb. 

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The consumer packaged goods company Procter &amp; Gamble operates in five segments: beauty; grooming; health care; fabric and home care; and baby, feminine, and family care. Founded in 1837 when a British candlemaker and an Irish soapmaker merged their businesses in Cincinnati, its holdings include Tide, Pampers, Downy, Gillette, and Oral-B.

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Procter & Gamble (PG): Company Profile, Stock Price, News, Rankings

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From 60-year old Coach bags to Delta’s first passenger plane, take a trip down memory lane at some of corporate America’s most well-known brands.

Take a tour of some of businesses' biggest archives

Magazine

In the archive, we have over 25,000 items. This includes all the original catalogs, all the handbags, all the ready to wear pieces, anything that has a coach stamp on it comes through the archives. Behind me is Delta's first passenger service. Airplane carried five people had wicker seats and was not pressurized. Think about how much laundry has changed over the past 200 years, you know, doing laundry in a tub with bars of soap to then using early powders and flakes and you know, the beginning appliances to then moving to liquids to then moving to pods, still similar chores, but better technologies. And we want to make sure that we capture that evolution in the archives. A lot of the larger companies, particularly those with long histories have both archives and museums and that is to inspire employees to make them feel like they belong to something bigger to themselves. And it's also a way to guide the C SUITE when they're having to do decision making. And that can include things like how was a crisis handled a decade ago. It serves also innovation. So whether you're a designer, a coach or somebody trying to find a new twist on shaving cream at PNG. And so it's a mix of both and that's why companies invest money and hire actually real historians with masters and doctorates in history. Delta has both a museum that's open to the public and is actually a very popular tourist attraction in Atlanta as well as archives. It has things like press releases, minutes from board meetings, presentations from strategy sessions, etcetera, etcetera that are important for the corporate history aspect of it. As the manager of the archives, I take care of Delta Airlines corporate archives that they have been collecting um since the 19 fifties. This is actually a piece of glassware. This is from Delta's first alcoholic beverage service. So this would have held champagne in the late fifties. Delta started, they called Royal Beverage Service and this is such a fun menu. Delta started as a crop dusting company actually in Macon, Georgia, which a lot of people don't realize in 1925 quickly moved to Monroe Louisiana and the name Delta was actually coined by Catherine Fitzgerald. She was known as Miss Fits. So she was the longtime assistant to the principal founder of Delta Ce Woolman. Delta started passenger service in 1929 then this kind of airplane. Um we actually have one, a similar one in the museum behind me is the travel air and it was Delta's first passenger service. Airplane carried five people had wicker seats and was not pressurized. I'm Kelly Moore, executive Director of the Delta Flight Museum here in Atlanta, Georgia. In my opinion, the most interesting piece is Spirit of Delta A 767 aircraft ship 102 that was purchased by employees, friends and members of the community and donated to Delta. She was dedicated on December 15th, 1982 and she flew for 30 years and we are in the first-class cabin which doesn't look anything like the first-class cabins of today. She has IFE that is on a screen mounted to the front of the cabin. We no longer use overhead projectors. One of my favorite things about uh, this airplane that you don't see anymore are the telephones and I can remember seeing people use them. You would slide your credit card and I can't remember what it was per minute, but it was some crazy amount per minute. So behind me, we have then and nail. We have the first class seats from the 19 sixties conveyor 880. You can see the bucket seats from the sixties and then behind me on this side, on my left is the life flat seats of today on the A 350. I prefer the life flat. This is my absolute favorite Delta uniform. It's dubbed the Huntsman 1969 to 70 summer uniform. You can see it comes with its own smock, its own belt, its own hat coach was founded in 1941. It started as a men's wallets and briefcase company originally from a baseball glove, leather, from a baseball glove that was repurposed. Of course, over the decades that has evolved its single against category are women's handbags. And it really hit the big time in the sixties when they hired a designer called Bonnie Cash and who absolutely revolutionized coach and brought it closer to the world of luxury and fashion and not just, you know, functional well made wallets. She was an absolutely trailblazing designer with the locks on her bags that continued to inspire design to this very day. This is the turn lock which was created in the 19 sixties by Bonnie Cash in. And the fun fact about this is that she was inspired by her 19 forties convertible and that the turn lock was what kept the top on of her car. So she redesigned it and placed it on a bag and that's why we have this today. My name is Ryan Borg and I am the manager of the coach archives in the archive. We have over 25,000 items. This includes all the original catalogs, all the handbags, all the ready to wear pieces, anything that has a coach stamp on it comes through the archive. The archive is primarily used by our design teams. They will come down here and look at all the bags for inspiration and that could be from proportions of the bag constructions of the bag and how they were constructed back in the sixties or seventies, but also for color and for the structure and the integrity of the leather. So in this case, here, we start with our 19 forties and 19 fifties collection. Uh when Miles Kahn first started coach um and that continues in this whole case with our 19 sixties, which is when Bonnie Cash and first started in 1962. Uh This is her first bag that she did for us. The shopping bag she did not like seeing women carrying around a brown paper bag down Fifth Avenue. So she designed this more lux shopping bag for people to carry their luxury items in one task for the archivist at coach to do is to source out bags that are rare to find bags that we don't have yet or currently looking for. And one bag in particular is the chubby clutch from 1964 where I recently found this through outside vendors who are willing to part with it. So this is our case of the 19 seventies bag collection. Bonnie Cashen designed up until 1973. At this time. In my opinion, she made one of the most iconic bags for coach, which is the devils. As you can see here. This is a bag that we still design and create today with little to zero modifications. You see how the handbags both reflect and push fashion as you get a sense from the sixties to now, it's really a lot of fun. Um, you know, you obviously have to be there with somebody, but I can match on my own. I could easily spend hours looking at all these products. Procter and Gamble has been around for decades and is the largest consumer products manufactured in the United States. They're behind all sorts of products, Tide and Charmin Gillette, etc, Procter and Gamble is a giant and has always had innovation in its blood. There's a lot more competition now for conser products. And so the pressure to innovate more quickly is great. The P and G Heritage Center collects preserves and shares all the great stories and objects and products and innovations from our past as a catalyst to inspire the employees as they work on the future. My name is Shane Meeker. I am the P and G company historian and corporate storyteller. The origin story of PNG really goes back to two people, an English candle maker named William Proctor and an Irish soap maker named James Gamble. And they end up coming over to Cincinnati, looking to start up their respective businesses and ended up actually becoming partners because they married sisters and it was their father in law's idea that they should join forces. And in 1837 they officially became Proctor and Gamble selling both soap and candles. Not only do we have the original partnership agreement, but we've got some very old handle cases including also some original bars of soap too from around that time period. So a day in the life in the Heritage Center is not only virtual and online requests coming from our employees but also employees just stopping in looking through the artifacts, going through the timelines asking about the stories. And we're pulling everything from photos to content to information that we then can send to them, so they can use that to research the projects that they're doing now. So we have a lot of great artifacts here. But one of the most fun is one of the mock ups of the original prototype for the Swiffer Wet Jet. And that story honestly goes back to consumer. As boss for us, we had started doing some in-home research around mopping. And while watching a consumer mop, she looked at the researchers and said, hey, I tell you if you really want to clean up something, please clean up the closet that I have to put all this mopping stuff in that then became the insight that would turn into creating this great all in one solution that we call Swiffer wetjet. And when you look at the prototype, it's really fun because it leverages areas of our expertise in different categories. Our hard surface cleaning expertise with Mr Clean while also leveraging our absorbency and non woven expertise in pampers, diapers and always pads. The wall of failures is one of our most popular exhibits in the archives and it's really centered around a growth mindset way of thinking because, you know, quite honestly, if you're not failing, you're probably not innovating. And so, you know, being around for 187 years, we try to save all of the projects that we can and all the learnings from them. And just because an idea fails, doesn't mean it's a bad idea. You know, there's so many things that could have influenced that from everything, from habit to technology, to business model, to consumer behavior, to whatever. And so for example, Tide Pods I pod is an incredible success for us that we launched in 2012. But believe it or not, the first actual unit dose detergent that we launched was called Tide Ready Packs in 1960 and that failed. So what you're looking at is 52 years of learning from failure and tempting new and different innovations to get there, just like in other spheres of life, history tends to repeat itself. And I think these archives and these museums really guide companies in harnessing their history so they can continue making products that are contemporary. I think what this shows though is that things move in cycles, what is old is new again if you do it intelligently and in a well guided way, which is what I think all these facilities help these companies to do.

Phil Duncan, Chief Design Officer, Procter & Gamble
Ioana Matei, Head of Emerging/Immersive Technologies, Procter & Gamble

Brainstorm Design 2022 - Designing Our Digital Futures

Conferences

let us cross into the digital realm. Uh some might think of the metaverse as the economic opportunity of tomorrow, but it has already spawned a thriving business according to Jpmorgan over $54 billion dollars is spent on virtual goods every year. That's almost as much as it's almost twice as much as the amount spent on buying music, consumer goods, titan. Procter and Gamble is not holding back their developing immersive virtual experiences to build lasting connections between younger consumers and they're leading brands earlier this year at C. E. S. P. N. G. Showcased their life lab metaverse like attraction developed by its design team in collaboration with the firms immersive technologies unit to share a PNG strategy for the metaverse and how they believe virtual experiences could drive real profits. Please welcome to the stage in real life not metaverse. Uh Phil Duncan, chief design officer at Procter and Gamble. And you wanna multi head of emerging immersive technologies at Procter and Gamble? Hi how are you? Thank you for being here. Thanks for having us. Okay so we're going to talk metaverse which is something we've all been hearing lots and lots about these days. But um I'm gonna gamble and say that probably Not everyone would expect, I believe 184 year old consumer goods company to be at the forefront of this new technology. So you know from a high level like why do you think the metaverse makes sense for PNG. Um Well um first and foremost I think anytime that there's a place where consumers are kind of gravitating towards, you know PNG has a terminology we like to use called constructive disruption, which is about, you know, frankly looking at the categories in which we compete and try to, you know, grow our businesses and and obviously win the hearts and minds of consumers where and how they're they're connecting with brands and learning about them is a natural place for us to go and learn about. So the metaverse, there's obviously a lot of buzz about it, um but we're clearly in a learning journey to understand again, what does engagement look like? How do we storytelling this space and ultimately, you know, how do we create value value for the consumer value for our retail partners? Um so it's a fantastic, you know, um opportunity to kind of keep our curiosity high and learn and create and do coming up with some of the themes over the course of the past day and a half or so, you want to, from the technical side, um did you kind of have to push for this or do you feel like, you know, people were ready to jump into this space? Well, I think, I mean if we think about the metaverse, it's a it's a very new concept that has been there for a while because the gaming industry has been there for a while, a RVR is there for a while, so we we experiment this at PNG for a long time, but the covid and the pandemic situation made it a bit more real for us to put it in practice and we had a bit more of an open mind and opportunity to to try it on and it really give ourselves the freedom to be like we want to learn with this and learn to see how what that gives us for our consumers and the people out there. Okay. Um I think we should look at, we have a video now which I think will help give people a little bit more of a sense of what you guys are doing. So it's it's hard to talk about the metaverse um without showing it right? Yeah. So you know if you guys want to give us some sense of what we're looking at, this was our physical installation at C. E. S going back about four or five years. So you can see how we built in things like engagement, showcasing our innovation and now we're stepping into our life lab virtually which we did for the first time two years ago, again showcasing the history of our company and the portfolio of the brands that we have um again, romancing individual innovation that our business teams were wanting to continue to showcase to consumers, to influencers even in the middle of the pandemic. And we had some gaming mechanics, so you could you could write are exploiting barge, let's for example and give points so we try to implement and make it attractive for for the young generation out there, but also showcasing the products. We had a collaboration with Bugatti which showcased the design of our Bugatti Gillette Razor and also you could talk with King C. Gillette from 100 more years ago in the space. We revived him as an avatar. So that was interesting for our viewers to have a chat with him. Ah and also we brought back the cavity creeps so I'm not sure people know about them in the child. So we redesigned them as a super heroes and give them a fresh new backstories and behind each of the hero, you have a mini game that was showcasing really oral health and engaging with the young generation in terms of teaching them what good oral health care is by playing these games. And uh and we we made the like little interactive interactive games that they could play in. We also brought together our citizenship efforts across sustainability. Um we also brought our olympics experience as covid, just absolutely ravaged particularly Tokyo olympics. We brought our customer partners to our engagement in Tokyo. So we brought Tokyo to them virtually to see how they could build collectively our business with them in and around the olympics. And then we just recently launched responsible beauty strategy as part of our total beauty portfolio in our beauty sphere, which is also a big part of what we launched um at and with the es so again we're stepping into this, you know, environment to learn and understand how to engage and what really matters with consumers and ultimately to create value. Um there's, I have so many questions, so that video, okay, first of all I want to, you can kind of tell in that that you have created a very different feelings for the different brands um which makes sense, you know, PNG is a company with, you know, dozens and dozens of brands with really distinct personalities. So how did you think about, you know, bringing that unique sort of brand look and feel to the different? I'm so confused about the terminology I should be using, it was interesting to step into this space and I have to, you know, give a lot of kudos to you wanna um she was my reverse mentor, which is also really funny to use even the word reverse, which is like, no, you were my mentor in this space, you know, you really taught me because as a designer, I kind of stepped into the space and I thought, gosh, how do you, you know, design in three dimensions to infinity. Um but then you really started, you know, thinking about what's the story I want to tell, What is the consumer attention that we're trying to solve? How do we bring to life the innovation that is unique within each of the ones that brands as you mentioned and then really frankly tried to um both celebrate the individual innovation yet rapid in a total experience which was the PNG life lab. So it's kind of a combination of working with our brand teams on what was that innovation and what would be unique to bring to life and to visualize and or storyteller around. But then also keep the equities of the physical PNG life lab as we moved into the virtual as well. So um you wanna the gaming part of it also really jumps out like you know the the teeth that we just saw talk a little bit like do you have a background in gaming? How did you think about approaching gaming in this context? So I think um for me and my team as well so we're kind of mixed. I'm coming as well for a background which I'm both I. T. And creative. I'm a professional filmmaker also have an NGO called woman in immersive technology. So I see a lot of creative content out there and I built my team to be both. So we have the game designers in the team but we also have a bit of not creating and storytelling because this is a new space. So nobody is really an expert and we need to bring this new generation uh to create. So that's that's a bit of background for for for myself. Um and also coming back on like how do we show the brands and how what changed that made when when I work with Phil and the team. Um we also thought like how, how a brand can be authentic in this space because we see that a lot of gaming platforms out there and a lot of executions. So what does it mean for us to be authentic? And I remember we're asking ourselves the questions because most of the characters, I mean you've seen cavity creeps, but if you think of ph and we have 180 plus years history, right? We have only two brands that have actually characters, which is Lenny, the bear, the charming bear and Mr Clean. So when you're talking to a brand, like how do you want to be represented in this space as a character? Like what does it mean? So even that question is really like, oh, how do I show up in this space is in a meaningful and interesting way. It's like almost like um you know, it's probably a good brand building exercise anyway, right? Like if you're brand we're a character, you know, who would they be? Um One of the stats I saw that I thought was interesting and you guys can correct me if I have, if I'm wrong about this, I believe you said that the average amount of time people spent in the life lab was something like around 20 minutes? Um I can't remember the last time I sent website, so I think that there's some obvious opportunity, they're like, what do you see that unlocking for PNG. Yeah, I mean it's it's it was maybe more overly surprised about it, but 2028 minutes um year on year as we went from year one to year two of executing this, people stayed even longer. So um that was a bit of a shock to us and a lot of our business teams were looking at this thing to your point. You know, our consumers would maybe spend five minutes on a brand website, but suddenly you're enveloping them in the story. Um those avatars were real people and innovators. So one of the dynamics that we did from a design standpoint was built on a gaming engine, so we could have that interaction. So you could literally talk to the innovators who developed the oral B io or the Gillette exfoliating razor, which at first people, when you started talking to them in the metaverse, people were like, are you a bot? Like, you know, I'm sitting in my basement in Cincinnati Ohio, I've been talking to you or I'm sitting in Portugal with, you know, until our people's accents came through and their ethnicities and diversity of our company really came through in this space. So I think it just provided a really rich engagement that went well beyond us pitching the product proposition into teach me about this, but why were you so passionate about this space when you develop it? I mean the articles that were written coming off this from a press standpoint, whatever, because we had our authentic innovators, the people that were really behind the products was incredibly rich. So um I'm gonna see if we have any questions in a minute, but consider whether you have some metaverse questions to ask, but um I'm also thinking about you know, how this helps you guys engage with the younger generation um of people that maybe didn't grow up with your products or obviously there's a lot of competition in your space um these days, so you know, you wanna, were you, did you think specifically of how younger people are going to engage with this and you know, our things sort of targeted towards a younger demographic. So I think whenever we we look at execution in the metaverse, we really need to start with the audience in mind. So the one you saw is really designed for a CS event where we showcase our brands, We're working as well on executions for young generation and what we want to do and and there's been a lot of talk as well as this conference about co creation and community, right? So for us to be able to be relevant in that space, we need to create the community or be part of the young generation community, which is a very new space as well in this gaming, the gaming is doing this very well, right? So we do that and we we also try to as much as we can now and it's it's evolving and I think that there is a change in the industry as well create with young generation, so we have that in mind but we need to be where they are and think how they think for this to be relevant for them, that makes sense. Um let's see, do we have any questions in the room? I see a hand back here. Yeah, quarters into the metaverse about six different platforms and we settled on Mozilla hubs. Okay, um I love the cinematography and everything that you had in your demo, what gaming platform are you using? That is unreal engine, game platform and its web stream. So we also sort of accessibility because we can also play it in the gear and all close gears and so on but that will not be accessible to everybody. So this is a web based streaming or real game engine and we chose this as well because of the graphics quality. It was important for our brands being like the company we are and looking at our ads and our marketing execution was important for our brands to be showcased in that graphics quality that was relevant for us and we could express the full brand narrative. So you have the choice of the platform. Thank you. Welcome. Um I have a question about metaverse skeptics um there might be some in the room, any any any like self declared metaverse skeptics out there. I am sometimes, so I'm just curious like using people that are like oh the metaverse, I'm already spending so much time in virtual world, like do you think like do they have a point? Do they not understand something about the metaverse? Is there some some disconnect or some way you would say? Like here's why the metaverse is worth your time, I'll start, I'll be curious to see how you and I answer this was great. Um Again I think this is a space where the unknown around value creation, I mean we have a we have a saying of PNG around being a force for growth and a force for good. Um and so the very first part of that is intentional about we can't be a force for good if we aren't growing, so can the metaverse help us do just that. Um to be determined right? I think the value is like the value building aspect of this, a lot of noise, A lot of you know, talk about it right now on a on a number of impressions probably way higher than the actual, you know, value that's being extracted out of it. But again um we see this as another transformative platform that's going to really change the way consumers engage with brands eventually, so we're in to learn. Yeah, yeah, you wanna you have thoughts on that one. Sure, I think the the minutes to the end, so what we're trying to do here is to learn and these technologies allows us really to learn and there are three things for me that we can learn, right? One is the fact that is a creator economy, right? So we see on generation creating out there, we see them operating in the community. So how do we learn how to do that regardless if we all have a fully immersive experience, tiktok, whatever like this is something that we need to learn and put ourselves out there. We also, what this technology provides is really putting the consumer at the center because if you're looking at the two D executions like to the film flat, you are directing, right? So you as a director, you're directing the viewer how they're seeing here, you're creating a world and they interact the way they want to and that puts them in the center of the experience and that, that connection with your brand and what you're showing them is so much more powerful and that's the skill that we still need to learn, what does it mean? And how do we create for that being with this technology or any other that come? I think that's kind of this design principles and the way we design the user journey is so different. Um, I would think we have time for one more question and we have one over there just hit the santos with signified lighting. Um I'm also probably like many other, a little bit critical about metaverse, but suddenly something you said, I wanted to ask if this makes sense. The food designers, We keep on having this sometimes difficulty in reaching out to users and customers and do proper user research and all that you talked about from five minutes to 28 minutes of engagement. Could designers look at metaverse is just the next frontier and next platform for doing user and customer research a place where you can go play and learn in a direct access. I mean does that make any sense at all? I think it absolutely does. I mean as you want to mention, I mean I think part of it is acknowledging that it's a community based world out there. I mean our brand teams I think are really kind of learning, whereas before we used to build like brand guidelines and we were the stewards know suddenly the community becomes the steward of the experience, so tapping them with understanding what would be a relevant way to intercept them I think is a fabulous way to use the metaverse from a learning standpoint. So I would, I would unequivocally answer yes. Um that is, I think a great place to end, especially given this room full of designers, so hopefully we'll get a lot more designers in the metaverse, Thank you both, thank you so much

CEO David Taylor dives into the details. 

How Procter & Gamble plans to be more sustainable 

let's pivot to uh, supply chain here. Uh, there's been a lot of conversation over the last two days about highly publicized problems with supply chains, area areas where prices, you know, lumber is the spectacular example where prices have skyrocketed north semiconductors going into automobiles, where the supply just simply isn't there, you have to be feeling that across the board in your suite of products, uh, is that gonna put pressure on profits? Is it going to put pressure on prices? How is the supply chain tightness going to affect your company and our economy first, alan, yes, it's very real. It's real across the number of different commodities and we're seeing it whether it's pope for paper products or whether it's anything, uh, that uses a variety of different products that come from oil, so that, you know, plastic packaging obviously has gone up and as we and others work to move out of plastic and it's, it's very important. From a sustainability standpoint, we want to make sure that we have the supply chains that can ensure we can at least make the products and ship them. Uh, trucking costs have gone up significantly, ocean freight has gone up significantly. So yes, you can look across a wide range of, of cost areas. Now, what we're doing to try to deal with that is in some cases we may have to take price increases. We talked about a few publicly, in most cases we're trying to do everything we can to keep our costs in control, recognizing that it's very difficult right now for consumers to pay more for brands where we can earn it and it's appropriate in terms of the input costs going up. You know, we'll consider price increases and and have talked that in some categories, do you think we're headed for a higher rate of inflation? I think it's inevitable. What's happened? We'll see sequential increases in inflation. How much, I don't know what is clear is across many different input goods costs are up and and that's going to have to be reflected in overtime uh throughout the economy. So yes I do believe we will see an increase in inflation. Are you seeing it in wages as well as input costs? You're seeing in some places? I think it's widely been reported what's happened in the US the difficulty and some people get an entry level jobs in that area were more fortunate in that we have higher paying jobs with very good benefits. So we haven't had an issue accessing generally good employees. We have an outstanding workforce and when we have a need to hire we've been able to do it. But I think if I look across the U. S. Economy especially I think there's a lot of pressure. Especially on uh lower wage jobs, service jobs, other areas where people are entering uh first jobs. Uh Yes I am seeing some pressure there and certainly we're seeing in things like trucking uh tremendous uh tension and pressure within trucking in the U. S. And and part of a coalition called the Alliance to in plastic waste which is over 50 companies across the whole supply chain that are working together to find solutions to create circular scalable solutions to eliminate plastic waste in the environment. There are many applications where plastic is the best solution, has the best life cycle impact. Having said that there's no reason we want any plastic not to have a 2nd 3rd and 4th life. So we're working together to address that consumers more and more want sustainable solutions they want are supposed to have sustainable products, sustainable packaging and we want to help them use the product in the most sustainable way. And a great example is that the biggest sustainability impact of things like washing clothes is heating water. So we've designed formulas that clean very well in cold water, which has a meaningful difference in reducing the carbon footprint of the use of part of our brands. So yes, I think consumers demand it. I think all stakeholders, including us want to see meaningful improvement across uh both the area of climate, water, energy. All of those areas in plastic waste is an area were very involved in. People look at your products and then look at you heading the alliance in plastic waste and say, hey, wait a minute, you know, how can you talk about ending plastic waste there? Everything is packaged in in plastic. How do you how do you balance the interests of the business with the desire to deal with this plastic waste problem? I think you hit it. The challenges we have to do both. We have to have products that delight consumers and we need to find solutions that minimized the carbon Impact. And we want to find sustainable solutions. So in many cases were able to design out of plastic packaging, where we've done that in many areas, were using post consumer use plastic more and more and we've made commitments to increase our levels in 2025 and 2030. And for areas or applications for plastic is the best solution. We want to eliminate plastic waste and there you want circular scalable solutions working on both technologies and business models that allow the any recyclable item to be collected. And then we used one of the biggest challenges is there's many things that are recyclable that aren't recycled. So what we want to do is find business models that work and that's where having a group of companies work across the value chain and invest their own money. We're going to invest in five years. There were billion and a half dollars of the company's money, the Alliances money to to fund scalable circular solutions to eliminate plastic waste. I think that will really make a difference to delight consumers and find sustainable solutions.

Taylor says P&G's products are more viable than ever as consumers spend more time at home.

Procter & Gamble CEO David Taylor reflects on lessons learned from 2020, company's path moving forward

Leadership

Taylor says P&G's products are more viable than ever.

P&G CEO on company's path moving forward

Procter & Gamble CEO David Taylor reflects on lessons learned from 2020

David, thank you so much for joining us to talk about Procter and Gamble. As you know, we've just passed the one year mark on the Covid 19 pandemic, and we all remember how people a year ago were scrambling to buy Tide detergent and bounty paper towels and, of course, Charmin toilet paper. And these are just a few of the many products that Procter and Gamble itself. How do things look for this year for 2021? Susie First, it's a pleasure to be here. To have a chance to talk with you is I think, about our business right now in the situation. Right now. It's very different than it was back in March, when the fear was so high that people were holding products. Today, broadly, almost all categories are available. Certainly the categories we produce. We're not having as much of an issue to keep up and broadly. You're seeing all of them in stores today, so I think consumers can find the bounty and the charming and the tide that they're looking for if they go to their favorite store. You know, it's interesting that people were willing and still are, uh, to buy premium products made by Procter and Gamble. Why is that? And do you see that trend continue? Or do you think that people are going to go back to looking for discounts? No, I think in many ways what happened because of the pandemic. And it has happened even before the pandemic is. People were reaching for trusted brands that deliver superior quality. And in many cases, price is a combination of performance and the value it provides. And so when we can provide superior performance that's meaningful to the consumer, they feel it's a great value and the price becomes less of an issue. Uh, so I and I believe many of these changes that we have the habits that are formed over a year will continue post pandemic. I understand that you regularly go into grocery stores to watch shoppers to see what they're buying, and now, during the pandemic, you're actually doing virtual visit to check in on your customers. What kinds of things are you learning about your customers? And what are the takeaways for Procter and Gamble? Susie? One of the ways that I've always worked is to try when we go in market to start out going in homes so pre pandemic could actually go in. Homes have visited homes across the world, probably been in homes of people from 25 different countries. And you listen to the consumer. It's their home field advantage, and they'll tell you how they use the product, how they interact. The consumer is the Boston this, and if we can listen and learn from him or her, we're going to understand how to better server. I can't believe as the chief executive of Procter and Gamble, you're going into people's homes and talking to them how they use product. Think about it. If you really want to understand how our product is used, you can bring something to a central location. But at times, then they're going to feel like they're being interviewed. If you go in their home, they're comfortable. And by doing that, what happens is you can see how they dosed a product, how much they use, whether it's under under dozing the packages, there's frustrations and out of that we learn, and we've got many of the insights for advertising by watching consumers in home, observing them and ask them questions to learn and and really valuing the consumer, valuing them as a person, understanding how our product's fit with their family. You reported solid financial results just a few weeks ago, and you're now predicting that P and G will have sales growth of 6% for 2021. Why are you so optimistic? What are the trends that you're seeing? If you think about it, the home is now where you live. The home is where you exercise. The home is where you work. The home has become more and more of the center of life for people during the pandemic, and in that world, consumption of premium trusted products has increased and PNG has been there for the consumer. At the same time, though, it wasn't even around the world. We got hit and many other markets where consumers were very different places. If you go in the developing world, there's a very different experience than what the US has had because they don't have the same fiscal stimulus or healthcare systems so across the world that we've been able to do pretty well at meeting the basic health, hygiene and cleaning needs. And I believe for most of us. The importance of health, hygiene and cleaning will continue Post pandemic. Therefore, I believe PNG is well positioned to serve consumers and meet their needs as they go forth. Mm. Well, you know, we've been seeing surveys showing that consumers are feeling a little more confident thanks to vaccinations that are going on. But at the same time, health care experts are warning that there are still a lot of risks with this covid virus, and economists and policymakers are warning that the U. S economy still has a long way to go to recover. How are you preparing for these different scenarios at PNG? The way we're positioning is to make sure our brands have a full lineup available at different price points and different performance levels. The key for us is to be available to consumer whatever tier they want to compete in with the superior performing product in that tier. And if we have a range of products, a range of price points and all of them superior and delivering value to the consumer will be well positioned. That, coupled with the habits that have been formed on health cleaning and hygiene position, the company well to continue to serve consumers well, despite all of that, what concerns you most right now that we let our guard down too early that we start to see progress and then we relax and we try to go back to where we were before. We need to learn from what's happened, leverage the tools and the skills that we've learned and then move forward in a way that can be very different. I think post pandemic well, given all of those issues and the uncertainty that you just meant to mention, what has been the most important thing you're doing differently in the way you run the company from the factory floor to the checkout counter at the grocery store. I think the number one thing is to empower people at the place. They are trusting the individuals. The tremendous leaders that we have in our company and people we have in our company to do what is right and to recognize the reality they face on the ground is so different than what I may be experiencing here in Cincinnati. I think that's a powerful point from a leadership standpoint, which is to have a clear strategy that people understand and that empower and trust them closest to the consumer and the customer to do what is appropriate and right. You've talked about PNG s reach around the world. I mean, you sell products in about every single country in the world. I'd like to just zero in on China because it is the biggest market outside of the United States, where you sell how they're doing. China's recovered very fast. China had a very severe damn turn around Chinese New Year last year. They locked down and certainly was widely covered in the media. And then within a few months, you saw the virus got under control and the economic activity increased. And after a very difficult January February March of 20 the business responded very well. And we've been double digit growth the last several quarters. So our business in China is doing well and broadly, the economy in China is progressing. David. I mean, what a remarkable year this has been. You've been working at Procter and Gamble for 40 years your entire career, you've been through many business cycles and crises. But what was it about of this past year? The most important leadership lessons that you've learned, I think a couple of words. Clarity, crystal clear strategy Number two Listen, listen to your people around the world, makes you understand, and then act on what they learn and then support and trust them to do the right thing by having a very clear strategy, listening to people and inputs to come in and then empowering them to act. We've been able to deliver excellent results through the pandemic, and I think we're well positioned coming out where people feel empowered to be able to deliver excellent results. Post pandemic. So how is this influencing the way that you're leaving now? Are you doing things differently? We're taking advantage of technologies in ways that I wouldn't have imagined before and that before I would plan trips for a week. Now I'm able to meet with 15 different people in a day in 20 minute increments and meet with each of my general managers in the region. Listen to them, and then you get really the full tapestry, the full picture of a region in a short period of time. So I believe we're gonna have the best of both worlds post the pandemic the ability to go and do things in person and listen and learn from them. And also the ability to leverage these tools that we have to do short connects to get critical information and then act with certainly much more agility and speed than we did before the pandemic. And how has this whole covid experience, uh, changed your views on what it takes to be a great leader? There's a saying that I really love, which is often excellence is delivered by doing common things uncommonly well. What has happened to the pandemic is we've done common things, keep safe, make packed ship and listen and take care of people uncommonly well. Because of that, our results have been very strong, and our people feel empowered and connected to the company in pride in our company.

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