P&G’s Integrated Growth Strategy

Our integrated growth strategy provides a roadmap for growth and value creation by consistently delighting consumers.

This strategy starts with a portfolio of products in categories where performance matters to consumers. These categories include Fabric Care, Home Care, Baby Care, Feminine Care, Family Care, Hair Care, Skin & Personal Care, Oral Care, Personal Health Care and Grooming.

In each of these categories, we continue to drive the superiority of our brand offerings across product performance, packaging, brand communication, retail execution and value. When we do this well, we delight consumers and, as a result, grow markets, household penetration, sales, share and profit.

To fund investments in superiority and to offset cost challenges, we focus relentlessly on productivity — eliminating costs that do not lead to increased value for consumers and removing internal work to free capacity for consumer-facing activities. Each business unit creates innovation and productivity plans that provide multi-year visibility into savings opportunities that can be reinvested to deliver stronger, holistic brand experiences for consumers as well as financial results at the levels we expect.

At the same time, we look for ways to constructively disrupt ourselves to lead the changes that will shape the future of P&G and our industry.

We deliver against these strategic pillars with an organization that is fully engaged, enabled and excited to serve consumers and win in the marketplace.

This strategy has enabled us to deliver significant growth and value creation over the better part of the past decade.

As we observe changes in the world around us, we see many opportunities we want to pursue and risks we will mitigate. There are three important changes to highlight.

The first change is media fragmentation. In today’s fragmented media landscape, it is much more difficult to capture consumers’ attention and educate them about the benefits of our brands. People have more sources of information, more sources of influence and more ways to engage — or disengage — than ever before. This gives P&G an opportunity to lead another evolution of brand communication — building awareness, trust and preference through messages that are more timely, more relevant and more directly connected to the superior benefits our brands deliver.

The second change is in the retail landscape. Consumers are shopping differently. Consider new shopping methods such as agentic commerce, quick commerce and social commerce. In the U.S., channels like e-commerce, d-commerce and club are growing exponentially, while traditional formats are consolidating. Additionally, retailers are becoming media platforms, and media platforms are becoming retailers. We believe these shifts create an opportunity to build stronger, more holistic partnerships with our retail partners — grounded in jointly aligned plans to win with shoppers.

The third change is inflation, which has grown steadily over the last five years and is affecting energy, food, healthcare and many other areas of household spending. This has placed significant pressure on consumers around the world. Even consumers with higher disposable income are becoming more disciplined and thoughtful about how they spend — where they choose to trade up and what they expect in return for every purchase. This is an opportunity to better serve consumers with offerings at the right sizes and price points, while continuing to deliver the performance, quality and value consumers expect from P&G brands across every value tier.

In summary, the consumer path to purchase is changing daily, is non-linear and filled with millions of possible distractions. To adjust for and benefit from these shifts in the external landscape, we are making four interventions to strengthen how we execute our strategy to win with consumers and accelerate growth.