Superiority to Win
with Consumers
and Grow Markets
We focus on delighting consumers through irresistible superiority—across product, package, brand communication, retail execution and value. Superior performing products in superior quality packages provide noticeably better benefits to consumers, which they become aware of and learn about through superior brand communications. This comes to life in stores and online with superior retail execution and delivers superior consumer value at a price that is considered worth it across each price tier where the brand is offered.
We are focused on driving irresistible superiority across each of our categories to attract users and help them more effectively tackle their jobs to be done. When done well across all five vectors, superiority grows markets and our share in them, jointly creating value with our retail partners.
Superiority is a never-ending challenge and opportunity. We constantly assess the superiority of our brands across each of the five vectors through a mix of tests, data, reviews, and measurements, and we invest—raising the bar on our superiority standards—in response to consumer needs and changes in our industry.
Measures of
Superiority
PRODUCT
Products so good, consumers recognize the difference. Superior products raise expectations for performance in the category.
Nearly 70% of women worry about their feminine protection leaking. We leverage consumer insights like this to delight consumers with superior products—such as Always FlexFoam, providing incredible protection and comfort. And importantly, superior products grow markets. In fiscal 2024, Always FlexFoam grew organic sales mid-teens, contributing more than its fair share to the mid-single-digit growth of the global menstrual care category.
Our superior innovations are driven by deep consumer insights—like Smooth-Tear Charmin Ultra Soft, with scalloped-edge perforations that improve the consumer experience. Consumer response has been overwhelmingly positive, and Charmin grew organic sales mid-single digits in fiscal 2024, with U.S. value share up modestly. This innovation has contributed to the mid-single-digit market growth of both value and volume sales for the U.S. Bath Tissue category.
PACKAGING
Packaging that attracts consumers, conveys brand equity, helps consumers select the best product for their needs, and delights consumers during use.
The GilletteLabs with Exfoliating Bar Razor helps remove dirt and debris before the blades, for effortless shaving in one efficient stroke. With a striking design and color, the superior packaging delivers both high visibility on shelf and an improved opening experience for the consumer with cardboard packaging. In fiscal 2024, Gillette globally delivered high single-digit organic sales growth and value share improvement. The global Grooming market grew mid-single digits, adding an incremental $1 billion of retail sales, with Gillette driving two-thirds of the increase.
Head & Shoulders, the world’s #1 anti-dandruff shampoo, launched Head & Shoulders BARE, delivering anti-dandruff protection with the bare minimum ingredients—only nine—in an eco-bottle with 45% less plastic versus our regular bottle. Less plastic means our bottle is lightweight, easy to squeeze, and rollable for the last drop of dandruff protection. Consumer delight with this superior product contributed to global Head & Shoulders organic sales growth of high single digits in fiscal 2024.
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.
Oral-B iO power toothbrushes deliver superior cleaning and a delightful user experience. Superior communication includes the insight that manual brushes leave 50% of plaque bacteria behind, but with its round head, Oral-B iO removes 100% more plaque in hard-to-reach places. This superior proposition is accelerating power brush trial and adoption, bringing new users into the category. Oral-B iO contributed to the high single-digit market growth of the power brush category, double-digit sales growth for Oral-B power, and two points of Oral-B value share growth over the past 12 months.
Superior brand communication is simple and straightforward, speaking to an unmet consumer need—such as in the U.K., where the weather is linked to a specific consumer tension—“When I dry inside, my laundry doesn’t smell as fresh.” With a name that communicates the promise, Lenor Outdoorable is delighting consumers, translating into breakthrough results in the U.K. U.K. Fabric Care delivered low-teens organic sales growth with value share up over 2.5 points in fiscal 2024.
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.
Native, our premium personal care brand, is delivering superiority across multiple product forms, including deodorants, body wash, shampoo and conditioners. Superior performance with fewer ingredients and irresistible scents combined with superior retail execution and strong retailer partnerships showcasing the full range of forms and scents have helped Native drive a step change in market value growth for the U.S. deodorant and personal care categories from low single digits to low teens. Native sales have grown nearly 10 times over the last five years to over $700 million in fiscal 2024.
As the #1 Sleep brand in the world, ZzzQuil’s irresistibly superior retail execution—in-store and online—reignited growth in both the medicinal and non-medicinal markets by demystifying the category through deep consumer insights and normalizing the category at the point of sale. In fiscal 2024, ZzzQuil grew organic sales high single digits globally and increased value share in the sleep-aid category by nearly one point.
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.
Cascade Platinum Plus Action Pacs are growing sales and the auto-dishwashing category by delivering superior cleaning and superior value for consumers. It provides the highest standard of clean in the dishwasher, which means consumers can skip the pre-rinse and get time back to experience moments that matter. Plus, running an ENERGY STAR® certified dishwasher* with Cascade Platinum Plus instead of washing dishes by hand at the sink saves water, providing more value for the consumer. Cascade grew organic sales high single digits in fiscal 2024, delivering about 75% of category growth (2.5 times our fair share).
*ENERGY STAR® certified dishwashers use <4 gallons per cycle. Running the tap for 11 minutes while handwashing uses up to 24 gallons of water.
As the #1 disposable diaper in the U.S., Pampers Swaddlers offers irresistible superiority to our littlest consumers by delivering a superior proposition with superior softness, up to 100% leakproof skin protection, and a blowout barrier that helps prevent leaks. During the year, we also expanded the Pampers Swaddlers range to include Pampers Swaddlers 360, which offers Pampers protection with a stretchable waistband that lets active babies and toddlers “escape the tapes” and makes diaper changes easier. With 24% value share of the disposable diaper segment, Pampers Swaddlers grew North America organic sales high single digits and increased share more than one point in fiscal 2024.
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 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.