Personal care giant Procter & Gamble is said to be losing ground in the battle for cabinet space in the US personal care market.
According to Bloomberg Intelligence, P&G’s share of the market fell to 12.7 percent this month, which fell from 14.2 percent in July.
In comparison to Johnson & Johnson’s 28.6 percent share, according to IRI data, the company’s share is disappointing in what is in fact a growing market. Indeed, according to IRI, the skincare industry is worth $3.52 billion and growing.
This wasn’t the only slump for the personal care giant, with razor blade sales falling 10 percent in the four-week period ending September 11, and the company losing ground in laundry care up against Henkel and Church & Dwight. Likewise P&G’s stock fell 2.1 percent on Wednesday.