2023 Annual Report — An Approach of Constructive Disruption

Illustrated graphic with a photo of a women with long dark hair, wearing a pair of light blue headphones, while doing laundry. The title reads, "An approach of constructive disruption."

Success in our highly competitive industry and increasingly dynamic world requires agility that comes with a mindset of constructive disruption — a willingness to change, adapt and create new trends and technologies that will shape our industry for the future.

Some of the ways we’re doing this:

  • Reducing product development time from years to months, while creating irresistible consumer experiences using proprietary algorithms and virtual reality tools to create formulations based on real-time raw material availability and cost data.
  • Optimizing brand communications using proprietary algorithms for fast-cycle testing, iterating on changes to visuals, music and copy in a few hours to achieve the best communications performance across the full range of media vehicles.
  • Enabling on-line quality control testing with our digitized manufacturing processes – identifying problems at the point they occur versus at the end of the line or in our warehouses – saving money, reducing scrap and increasing quality.

To read about this and more visit our 2023 Annual Report!


2023 Annual Report – Productivity in All We Do

The strategic need for investment to strengthen the long-term health and competitiveness of our brands, the short-term need to manage through significant cost increases, and the ongoing need to drive balanced top- and bottom-line growth, including margin expansion, underscore the importance of productivity.

In CEO Jon Moeller’s letter to shareholders in our 2023 Annual Report, he noted that productivity is now fully embedded in our operating model and is embraced in every part of our operation. Just two examples:

  • In brand building, more efficient and effective communication enables us to reach consumers when and where they are most receptive to our advertising, leading to higher quality engagement and avoiding excessive advertising frequency.
  • In cost of goods sold, real-time formula flexibility is helping improve superiority and reduce cost. And we’re able to reduce transportation costs through real-time optimization of truck loads, dynamic routing and sourcing optimization.
Productivity in All We Do

We remain fully committed to productivity as a core driver of balanced top- and bottom- line growth and strong cash generation.



2023 Annual Report: Superiority that Wins with Consumers and Grows Markets

In P&G’s 2023 Annual Report, we reminded shareowners that we continue to raise the bar on all aspects of superiority — to win with the consumers we serve — in all price tiers where we compete.

With innovation-driven superior products, packages, brand communication, retail execution and value, we aim to be a disproportionate contributor to market growth — creating business by growing markets and P&G’s share in them through new solutions, better and more delightful experiences, adding usage occasions and building regimens.

Across P&G’s 10 categories, we’re delivering superiority across product, package, brand communication, retail execution and value – that includes:

Superiority that Wins with Consumers and Grows Markets. Five images: Pampers, Ariel, DayQuil and Nyquil, Always Discreet and Safeguard with the captions product, packaging, brand communication, retail execution and consumer & customer value.
Superiority that Wins with Consumers and Grows Markets. Five images: Oral-B, Dawn and Fairy, Pantene, Gillette, Charmin and Bounty with the captions product, packaging, brand communication, retail execution and consumer & customer value.


  • Superiority is helping us delight consumers and drive category growth with Pampers Swaddlers in North America.
  • We’re innovating across the Oral-B iO portfolio, including Series 10 with iO Sense, our most advanced coaching brush yet, and Series 3, 4 and 5, which expand distribution across more channels and price points.

Read more about each one of these examples by visiting our 2023 Annual Report.


  • In Europe, Ariel and Lenor are driving strong demand and consumer value with a superior product in superior packaging.
  • Dawn/Fairy delivered outstanding results behind innovation that drives product and packaging superiority and enables more sustainable dishwashing habits.

Brand Communication

  • Superior communication on innovations like Vicks NyQuil and DayQuil Honey has helped Vicks become the preferred choice by millions.
  • We're delighting consumers through brand communication that helps support better product performance — for example, in Latin America on the Pantene brand.

Retail Execution

  • Beautiful, feminine retail displays for Always Discreet are helping to make a meaningful change in consumers’ quality of life, while driving strong business results.
  • Superior retail execution is vital for the Grooming business, where 80% of sales are in traditional stores — and is helping us grow share and sales.

Consumer and Customer Value

  • Safeguard is China’s #1 personal cleansing brand and consumers and customers alike appreciate the value of market-growing innovations like Safeguard Detox Body Wash
  • Charmin and Bounty are delivering great value to consumers with the products' superior absorbency.