Within our 10 categories we’re creating superior, science-based products delivered with superior packaging, consumer communication, retail execution and value in all price tiers where we compete. This is the basis for competitive advantage — meaningful and noticeable superiority across all elements of our consumer proposition. Superior offerings drive market growth, creating a winning proposition for all concerned.
Superiority is a high bar. Our products must be so good that consumers recognize the difference. Our packages must be attractive, convey brand equity and close the sale. Our communications must create awareness, demonstrate superior performance, and create the desire to purchase. In stores, our retail execution must include the right product forms, sizes, price points, shelving and merchandising execution. Online, our retail execution must include the right content, assortment, ratings, reviews, search and subscription offerings. Finally, our consumer value equations must represent a good value of the total proposition, and for customers, include important items like market growth, penny profit and margin.
We continue to raise the bar on all five vectors of superiority because when we’re superior on at least four of five, we more consistently drive market growth, sales, profit, household penetration and value share.
P&G recently received two honors that recognize the progress we’ve made. The Cannes Lions Festival of Creativity named us the #1 Brand Marketer of the Decade, and Target recognized us as their supplier of the year, across all product categories.
We’ve made investments to strengthen the superiority of our brands, and we’ll continue to invest to extend our margin of advantage and quality of execution, improving options for consumers around the world.
Together, these five elements drive category growth, help prevent commoditization and provide the basis to build sustainable competitive advantage.
SUPERIOR RETAIL EXECUTION
In-store: with the right store coverage, product forms, sizes, price points, shelving and merchandising. Online: with the right content, assortment, ratings, reviews, search and subscription offerings.
SUPERIOR CONSUMER & CUSTOMER VALUE
For consumers: all these elements presented in a clear and shoppable way at a compelling price. For customers: margin, penny profit, trip generation, basket size, and category growth.
SUPERIOR PRODUCTS
Products so good, consumers recognize the difference.
Superior products raise expectations for performance
in the category.
SUPERIOR PACKAGING
Packaging that attracts consumers, conveys brand equity, helps consumers select the best product for their needs, and delights consumers during use.
SUPERIOR BRAND COMMUNICATION
Product and packaging benefits communicated with exceptional advertising that makes you think, talk, laugh, cry, smile, act and buy —
and that drives category
and brand growth.
SUPERIOR RETAIL EXECUTION
In-store: with the right store coverage, product forms, sizes, price points, shelving and merchandising. Online: with the right content, assortment, ratings, reviews, search and subscription offerings.
SUPERIOR CONSUMER & CUSTOMER VALUE
For consumers: all these elements presented in a clear and shoppable way at a compelling price. For customers: margin, penny profit, trip generation, basket size, and category growth.
SUPERIOR PRODUCTS
Products so good, consumers recognize the difference.
Superior products raise expectations for performance
in the category.
SUPERIOR PACKAGING
Packaging that attracts consumers, conveys brand equity, helps consumers select the best product for their needs, and delights consumers during use.
SUPERIOR BRAND COMMUNICATION
Product and packaging benefits communicated with exceptional advertising that makes you think, talk, laugh, cry, smile, act and buy —
and that drives category
and brand growth.
SUPERIOR RETAIL EXECUTION
In-store: with the right store coverage, product forms, sizes, price points, shelving and merchandising. Online: with the right content, assortment, ratings, reviews, search and subscription offerings.
SUPERIOR CONSUMER & CUSTOMER VALUE
For consumers: all these elements presented in a clear and shoppable way at a compelling price. For customers: margin, penny profit, trip generation, basket size, and category growth.
NOTICEABLE SUPERIORITY TO WIN WITH CONSUMERS
In 2017, we raised the bar on all aspects of superiority, in all 10 of our categories. With this new standard in place, we assessed our portfolio and found only 30% to be superior across all dimensions. Today, more than 70% of our portfolio is judged as superior — and we’re making continuous improvements to respond to consumer needs, improving options for consumers around the world.
Let’s look at how this comes to life in Home Care, where since fiscal 2018 we’ve driven about 60% of global category market growth and step-changed organic sales growth from low single digits, to high single digits, to double digits in fiscal 2020.
Click on the arrows to the right to see more examples of P&G’s superiority across categories.
SUPERIOR PRODUCTS
DAWN POWERWASH
The unique spray technology and superior formula of Dawn Powerwash provide powerful suds that cut grease on contact. Priced at a premium to regular Dawn, Powerwash is driving growth in the Hand Dish market category and contributed to the 1.5 points of share growth of Dawn in the U.S. in fiscal 2020.
SUPERIOR PRODUCTS
TIDE POWER PODS AND GAIN ULTRA FLINGS
Washing machines are larger than ever, and bigger laundry loads mean more dirt and stains to remove. Tide Power PODS and Gain Ultra Flings laundry pacs, introduced in fiscal 2020, have more cleaning power than two regular Tide PODS Original pacs. They drive correct dosing while combating set-in stains and strong odors and giving a long-lasting scent. This innovation contributed to high single digit growth in the U.S. laundry category with Tide and Gain driving 75% of total category growth.
SUPERIOR PRODUCTS
DAWN POWERWASH
The unique spray technology and superior formula of Dawn Powerwash provide powerful suds that cut grease on contact. Priced at a premium to regular Dawn, Powerwash is driving growth in the Hand Dish market category and contributed to the 1.5 points of share growth of Dawn in the U.S. in fiscal 2020.
SUPERIOR PRODUCTS
TIDE POWER PODS AND GAIN ULTRA FLINGS
Washing machines are larger than ever, and bigger laundry loads mean more dirt and stains to remove. Tide Power PODS and Gain Ultra Flings laundry pacs, introduced in fiscal 2020, have more cleaning power than two regular Tide PODS Original pacs. They drive correct dosing while combating set-in stains and strong odors and giving a long-lasting scent. This innovation contributed to high single digit growth in the U.S. laundry category with Tide and Gain driving 75% of total category growth.
SUPERIOR PRODUCTS
DAWN POWERWASH
The unique spray technology and superior formula of Dawn Powerwash provide powerful suds that cut grease on contact. Priced at a premium to regular Dawn, Powerwash is driving growth in the Hand Dish market category and contributed to the 1.5 points of share growth of Dawn in the U.S. in fiscal 2020.
SUPERIOR PRODUCTS
TIDE POWER PODS AND GAIN ULTRA FLINGS
Washing machines are larger than ever, and bigger laundry loads mean more dirt and stains to remove. Tide Power PODS and Gain Ultra Flings laundry pacs, introduced in fiscal 2020, have more cleaning power than two regular Tide PODS Original pacs. They drive correct dosing while combating set-in stains and strong odors and giving a long-lasting scent. This innovation contributed to high single digit growth in the U.S. laundry category with Tide and Gain driving 75% of total category growth.
SUPERIOR PACKAGING
FEBREZE SMALL SPACES
Febreze Small Spaces is activated with the click of a button and eliminates odors for up to 45 days. The sleek packaging blends into the décor of any room in the house. First launched in Japan and now in the U.S., it has helped drive fiscal 2020 share growth for the Febreze brand of more than two points in Japan and one point in the U.S.
SUPERIOR PACKAGING
NYQUIL AND DAYQUIL
Vicks developed a superior bottle design for NyQuil and DayQuil in fiscal 2020. Recently launched, It has a modernized design that makes it easier for consumers to find the product they need at in the store, and that fits better on retailer shelves. The upgraded dose cup is easier to hold, use, and rinse. The bottle fits better in consumers’ cabinets at home and is easier to hold—all while reducing the plastic used in each bottle.
SUPERIOR PACKAGING
FEBREZE SMALL SPACES
Febreze Small Spaces is activated with the click of a button and eliminates odors for up to 45 days. The sleek packaging blends into the décor of any room in the house. First launched in Japan and now in the U.S., it has helped drive fiscal 2020 share growth for the Febreze brand of more than two points in Japan and one point in the U.S.
SUPERIOR PACKAGING
NYQUIL AND DAYQUIL
Vicks developed a superior bottle design for NyQuil and DayQuil in fiscal 2020. Recently launched, It has a modernized design that makes it easier for consumers to find the product they need at in the store, and that fits better on retailer shelves. The upgraded dose cup is easier to hold, use, and rinse. The bottle fits better in consumers’ cabinets at home and is easier to hold—all while reducing the plastic used in each bottle.
SUPERIOR PACKAGING
FEBREZE SMALL SPACES
Febreze Small Spaces is activated with the click of a button and eliminates odors for up to 45 days. The sleek packaging blends into the décor of any room in the house. First launched in Japan and now in the U.S., it has helped drive fiscal 2020 share growth for the Febreze brand of more than two points in Japan and one point in the U.S.
SUPERIOR PACKAGING
NYQUIL AND DAYQUIL
Vicks developed a superior bottle design for NyQuil and DayQuil in fiscal 2020. Recently launched, It has a modernized design that makes it easier for consumers to find the product they need at in the store, and that fits better on retailer shelves. The upgraded dose cup is easier to hold, use, and rinse. The bottle fits better in consumers’ cabinets at home and is easier to hold—all while reducing the plastic used in each bottle.
SUPERIOR BRAND COMMUNICATION
CASCADE
Superior brand communication can drive sustainability and grow markets. Cascade launched a campaign with hard-hitting facts that tackle the top myths limiting dishwasher use. The campaign helped the Cascade brand grow organic sales in the mid-teens in fiscal 2020 — and is helping consumers save water.
SUPERIOR BRAND COMMUNICATION
CHARMIN ULTRA SOFT
Charmin Ultra Soft is our softest toilet paper, with comfort cushions that are 2X more absorbent so consumers can use less than the leading bargain brand. Communicating this superior performance contributed to Charmin’s double-digit organic sales growth in fiscal 2020.
SUPERIOR BRAND COMMUNICATION
CASCADE
Superior brand communication can drive sustainability and grow markets. Cascade launched a campaign with hard-hitting facts that tackle the top myths limiting dishwasher use. The campaign helped the Cascade brand grow organic sales in the mid-teens in fiscal 2020 — and is helping consumers save water.
SUPERIOR BRAND COMMUNICATION
CHARMIN ULTRA SOFT
Charmin Ultra Soft is our softest toilet paper, with comfort cushions that are 2X more absorbent so consumers can use less than the leading bargain brand. Communicating this superior performance contributed to Charmin’s double-digit organic sales growth in fiscal 2020.
SUPERIOR BRAND COMMUNICATION
CASCADE
Superior brand communication can drive sustainability and grow markets. Cascade launched a campaign with hard-hitting facts that tackle the top myths limiting dishwasher use. The campaign helped the Cascade brand grow organic sales in the mid-teens in fiscal 2020 — and is helping consumers save water.
SUPERIOR BRAND COMMUNICATION
CHARMIN ULTRA SOFT
Charmin Ultra Soft is our softest toilet paper, with comfort cushions that are 2X more absorbent so consumers can use less than the leading bargain brand. Communicating this superior performance contributed to Charmin’s double-digit organic sales growth in fiscal 2020.
SUPERIOR RETAIL EXECUTION
SWIFFER
Swiffer gave more visibility to the product and established clear vertical blocks on shelf for Swiffer Sweeper, Wet Jet, Dusters, Heavy Duty and Pet — differentiated by color and signage to help the consumer choose the right product for them. First in the U.S. and most recently in Europe, this strategy helped increase fiscal 2020 sales by double digits in markets where executed.
SUPERIOR RETAIL EXECUTION
OLAY
Skin care consumers in China typically interact in-store with a beauty consultant who analyzes their skin needs and helps them select products. When that became impossible due to COVID-19, our China Olay team swiftly adjusted with agility, resiliency and compassion, enriching our online beauty counseling to delight consumers with one-on-one personalized communication. China’s Olay business has gone from strength to strength, delivering its second consecutive year of double-digit growth in fiscal 2020.
SUPERIOR RETAIL EXECUTION
SWIFFER
Swiffer gave more visibility to the product and established clear vertical blocks on shelf for Swiffer Sweeper, Wet Jet, Dusters, Heavy Duty and Pet — differentiated by color and signage to help the consumer choose the right product for them. First in the U.S. and most recently in Europe, this strategy helped increase fiscal 2020 sales by double digits in markets where executed.
SUPERIOR RETAIL EXECUTION
OLAY
Skin care consumers in China typically interact in-store with a beauty consultant who analyzes their skin needs and helps them select products. When that became impossible due to COVID-19, our China Olay team swiftly adjusted with agility, resiliency and compassion, enriching our online beauty counseling to delight consumers with one-on-one personalized communication. China’s Olay business has gone from strength to strength, delivering its second consecutive year of double-digit growth in fiscal 2020.
SUPERIOR RETAIL EXECUTION
SWIFFER
Swiffer gave more visibility to the product and established clear vertical blocks on shelf for Swiffer Sweeper, Wet Jet, Dusters, Heavy Duty and Pet — differentiated by color and signage to help the consumer choose the right product for them. First in the U.S. and most recently in Europe, this strategy helped increase fiscal 2020 sales by double digits in markets where executed.
SUPERIOR RETAIL EXECUTION
OLAY
Skin care consumers in China typically interact in-store with a beauty consultant who analyzes their skin needs and helps them select products. When that became impossible due to COVID-19, our China Olay team swiftly adjusted with agility, resiliency and compassion, enriching our online beauty counseling to delight consumers with one-on-one personalized communication. China’s Olay business has gone from strength to strength, delivering its second consecutive year of double-digit growth in fiscal 2020.
SUPERIOR CONSUMER & CUSTOMER VALUE
MICROBAN 24
In February we launched Microban 24, with antimicrobial technology that keeps killing bacteria for up to 24 hours when used as directed. It helps keep homes clean and sanitized — providing value with a new benefit for consumers and a new addition to the category for retailers.
Microban 24 is effective for 24 hours against Staphylococcus aureus and Enterobacter aerogenes bacteria. Microban 24 does not provide 24-hour residual virus protection.
SUPERIOR CONSUMER & CUSTOMER VALUE
GILLETTE SKINGUARD
Gillette SkinGuard is designed to delight the more than 65% of men who report skin sensitivity and may shave less frequently. Launched in the U.S. in 2019 and expanded to several countries around the world in fiscal 2020, it contributed to P&G’s positive share growth globally in the male blades and razors segment during the year.
SUPERIOR CONSUMER & CUSTOMER VALUE
MICROBAN 24
In February we launched Microban 24, with antimicrobial technology that keeps killing bacteria for up to 24 hours when used as directed. It helps keep homes clean and sanitized — providing value with a new benefit for consumers and a new addition to the category for retailers.
Microban 24 is effective for 24 hours against Staphylococcus aureus and Enterobacter aerogenes bacteria. Microban 24 does not provide 24-hour residual virus protection.
SUPERIOR CONSUMER & CUSTOMER VALUE
GILLETTE SKINGUARD
Gillette SkinGuard is designed to delight the more than 65% of men who report skin sensitivity and may shave less frequently. Launched in the U.S. in 2019 and expanded to several countries around the world in fiscal 2020, it contributed to P&G’s positive share growth globally in the male blades and razors segment during the year.
SUPERIOR CONSUMER & CUSTOMER VALUE
MICROBAN 24
In February we launched Microban 24, with antimicrobial technology that keeps killing bacteria for up to 24 hours when used as directed. It helps keep homes clean and sanitized — providing value with a new benefit for consumers and a new addition to the category for retailers.
Microban 24 is effective for 24 hours against Staphylococcus aureus and Enterobacter aerogenes bacteria. Microban 24 does not provide 24-hour residual virus protection.
SUPERIOR CONSUMER & CUSTOMER VALUE
GILLETTE SKINGUARD
Gillette SkinGuard is designed to delight the more than 65% of men who report skin sensitivity and may shave less frequently. Launched in the U.S. in 2019 and expanded to several countries around the world in fiscal 2020, it contributed to P&G’s positive share growth globally in the male blades and razors segment during the year.
VARIOUS STATEMENTS IN THIS ANNUAL REPORT, including estimates, projections, objectives and expected results, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are generally identified by the words “believe,” “expect,” “anticipate,” “intend,” “opportunity,” “plan,” “project,” “will,” “should,” “could,” “would,” “likely” and similar expressions. Forward-looking statements are based on current assumptions that are subject to risks and uncertainties that may cause actual results to differ materially from the forward-looking statements, including the risks and uncertainties discussed in Item 1A – Risk Factors of the Form 10-K/A included in this Annual Report. Such forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or revise publicly any forward-looking statements, except as required by law.
SUPERIOR PRODUCTS
SUPERIOR PACKAGING
SUPERIOR BRAND COMMUNICATION
SUPERIOR RETAIL EXECUTION
SUPERIOR CONSUMER 