Many people enjoyed new connected products in “P&G LifeLab”. The world largest consumer goods company, Procter & Gamble Company, set its booth, “P&G LifeLab”, at the Consumer Electronics Show (CES) […]
The world largest consumer goods company, Procter & Gamble Company, set its booth, “P&G LifeLab”, at the Consumer Electronics Show (CES) in Las Vegas, Nevada, held January 2020. In “P&G LifeLab”, the company highlighted six new connected products between us and them to improve our daily life. For example, the “Oral-B Genius X toothbrush” takes advantage of Artificial Intelligence to understand how consumers are brushing their teeth so that it can provide personalized feedback that leads to better brushing and oral health.
Procter & Gamble has long history and was founded in 1837 by William Procter and James Gamble. According to 2020 Annual Report, its net sales is 67.7 billion US dollars, and Fabric& Home Care, Baby, Feminine & Family Care and Beauty business segment accounts for 33%, 26% and 19% of net sales, respectively. In terms of geographical region, North America, Europe, Asia Pacific and Greater China accounts for 47%, 22%, 10% and 9% of net sales, respectively. The company focuses on providing branded consumer packaged products of superior quality and value, and they are sold in more than 180 countries. Therefore, we may purchase them in everyday life, even though we do not understand some products are P & G brand.
It is true that Procter & Gamble is the world largest consumer goods company and its sales revenue is almost 70 billion US dollars, but the company does not always spend a good time. For instance, the company wrote down Gillet business by an impairment charge of $8.0 billion in the fiscal fourth quarter in 2019, resulting in a net loss of $5.24 billion, according to CNBC. Therefore, the company should make use of digital technology not only to improve customer experiences but also to grow for longer term.
After the arrival of Internet, there are some buzzwords relating the connectivity such as Internet of Things, Internet of Everything, and Connected car. Thanks to technological advancements, we can digitize our physical activities, which means that we can understand our way of life by checking THE data. For example, we can easily check how many steps we walk everyday by using smartphone app. After digitizing our physical activities, we can connect them to other data, and this concept based on the connectivity. P & G is not the last company to make use of this concept and we might not be free from this mega trend.
As we see the other article, “prevention is better than cure” is an important idea in Healthtech. P&G’s “Oral-B Genius X toothbrush” is not an exception because we will be able to prevent cavities by using it.
