THE WHAT? Procter & Gamble is forging ahead with its marketing activity as it looks to retain ‘mental availability’ of its products during the COVID-19 pandemic, according to a report by the Drum.
THE DETAILS The personal care giant reported a 5 percent YOY on sales increase, with the coronavirus bolstering demand for healthcare, fabricare and homecare products.
However, P&G CFO Jon Moeller stated that despite the demand, reduced product availability worldwide could direct consumers to trial its products, but could also take them away from them.
He stated that now was the time to “work hard” to maintain visibility, with the company increasing ad spend during the turbulent times.
Speaking to investers, Moeller stated, “There are consumers that are trying products that they haven’t tried before – but they aren’t necessarily ours. 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.”
THE WHY? With many companies feeling the pinch from the worldwide pandemic, with revenues down across the globe, many are pulling back on all spend.
However, according to P&G, the current increased online consumption is the ideal time to bolster brand visibility.
Moeller continued, “This is not a time to retrench. And really that’s all in service to our consumers and service to our retail partners, and – we believe – in service to our society.
“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.”