P&G Touts Ad Spend Increases As Its FMCG Sales Soar By As Much As 10%
The world’s second-biggest advertiser, FMCG company P&G, will reportedly increase its marketing spend as demand for many of its products – especially toilet paper! – rises as people around the globe continue to self-isolate.
In a note to investors on Friday, the company said it had seen a five per cent increase in consumer demand for its products namely in the homecare, cleaning/laundry and personal care categories.
It noted sales had increased a whopping 10 per cent in the US, which had offset an eight per cent decline in China.
In Australia, P&G’s raft of brands include some of the most popular names on supermarket shelves including Gillette, Pantene, Head And Shoulders, Tampax, Oral-B, Vicks and Old Spice.
In good news for agencies, P&G’s chief financial officer Jon Moeller (main photo) said the company would be increasing its media spends during the global pandemic.
“There are consumers that are trying products that they haven’t tried before – but they aren’t necessarily ours,” Moeller told investors.
“We need to work hard to ensure that we maintain mental and physical availability to the greatest extent possible, so that those consumers return to their beloved and trusted brands – which are ours – as they’re more fully available.
“There’s a big upside here in terms of reminding consumers of the benefits that they’ve experienced with our brands and how they’ve met their family’s needs, which is why this is not a time to go off air.”
In better news, Moeller also said the FMCG behemoth would not be laying off staff during the CV-19 pandemic adding “that’s all in service to our consumers and service to our retail partners, and – we believe – in service to our society”.
He added: “I think this is a reset opportunity for us and for our retail partners and I’m encouraged by the conversation so far in terms of approaching that in a constructive, partnered fashion.”
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