Click 'Read Original' for details. In the highly profitable daily chemical market, various brands are showcasing their skills, constantly engaging in offensive and defensive battles. Novel sales methods have emerged, and live-streaming has cleverly turned social interaction into a sales channel, becoming the standard in this market. P&G, which once went against the grain with its 'sky-high' pricing strategy and became 'nationally famous,' has unsurprisingly joined this camp. On screen, it vigorously showcased its streamlined 65 products, while also carefully launching 9 new products, once again using a brand portfolio tactic to build its defenses in the online world. However, the market seems not to have responded with much enthusiasm. In Q2 this year, P&G's revenue grew only 0.28% year-on-year, and its market share in China was only 30%. Having been in China for over 30 years, P&G's steps have become hesitant, and its once-magic tricks seem to have lost their charm. Is this the moment for the century-old giant to take a halftime break? Once 'Unreachable,' Where Is P&G's Pride Now? The market never lacks consumers; it only lacks products that cater to 'consumption gaps.' As long as there is imagination, infinite space will be created. As the fastest-growing sector in China's consumer market, the daily chemical industry is now a 300 billion yuan market. This figure was unimaginable 30 years ago. P&G, with its century-long market experience, put a 300ml bottle of shampoo at a '19 yuan' premium price when the average Chinese worker earned less than 100 yuan, breaking the limits of consumer imagination at the time. Since then, it has been on a fast track, watching domestic products struggle to catch up while using the same tactics to create multiple product 'myths,' building its unique empire. However, the market inherently has a 'fickle' gene; it never rejects 'innovation' but absolutely despises 'stagnation.' P&G used its wisdom to ignite Chinese consumers' pursuit of 'individuality,' once becoming a textbook example in marketing. Yet, unchanging advertising patterns and lackluster packaging have worn away P&G's 'edge' over time. Can a P&G that is no longer 'willful' still attract the new generation of consumers who increasingly seek 'self-expression'? Protecting Core Products, P&G's Arduous Defense China's skincare market stands out in the daily chemical market, with a growth rate of around 10% for years. In 2018, the market size reached 180 billion yuan, accounting for over 50% of the total, twice the global average. Olay, which entered with the slogan 'Give You Youthful Skin,' and SK-II, known as 'Fairy Water,' saw their territories being carved up in 2013 and 2014. The rapid shrinkage of market share mercilessly told P&G a truth: the 'individualistic' P&G of the past is being abandoned by a world now 'inflated with individuality.' P&G certainly won't sit idly by as it declines. Since 2015, it has frequently launched 'innovation' measures, streamlining products and increasing investment in e-commerce platforms. This year, it even revived the 'Made in China' brand 'Oriental Ritual,' forming a price-tier strategy with Olay and SK-II. But in a consumer world that values 'experience,' price doesn't seem to be the issue; 'recognition' is the core. This 'left, center, right' combined attack is just an online version of the old offline style. Does P&G want to relive its offline history? Betting on Social Media, The Golden Key to P&G's Rebirth? By 2020, China's urban new-generation consumers (aged 15-35) will account for 46% of the population, and this group will drive over 80% of consumption growth. At the same time, this group is extremely fond of 'novel' shopping methods, which will inevitably lead more brands to shift their focus to 'fancy marketing.' P&G has also sensed the shift in market trends. Its 30th anniversary video in 2018 was quite 'impressive' on Douyin, and during major e-commerce festivals that year, it relied heavily on 'streamers' for thousands of live broadcasts to refresh its presence. The returns were also impressive: 2018 was P&G's best performance in nearly a decade, with sales growth returning to double digits. All this seems to indicate that after 30 years, P&G has once again grasped the 'needs' of contemporary consumers. However, this year's weak sales growth seems to have returned to the old story: after the noise, consumers remain 'unmoved.' Market channels are just pipelines for delivering products; what truly sticks to consumers is the core value of the product. Once, the sky-high price reflected P&G's 'status'; now, what will P&G rely on to reflect its 'position'? The market is a sieve; only products strong enough will survive. Having gone through nearly two centuries, P&G has seen too many market ups and downs, but it has stumbled in the Chinese market, showing that maintaining product strength is not easy. Product strength always lies in its core; channel support and fancy tactics are just 'icing on the cake.' Without core value, even the most robust wings cannot help it fly. P&G, which has no shortage of 'spokespeople,' will find its path forward anything but smooth if its brand development approach remains unchanged. Source: Yizhigu (一知股)