Future-proofing for the digital age: 10 lessons from P&G's former President of e-business
2012 was "a great wake up call" for Procter and Gamble, believes Deb Henretta, the company's former Group President for Global E-Business.
While P&G's multi-billion dollar brand Gillette had been a household name alongside competing brand Schick for decades (it was, as Henretta admitted, a "sleepy business"), the shaving market would soon face some serious disruption in the form of Dollar Shave Club.
Henretta is frank about the impact of the newcomer on the category, which offers a razor subscription service for just a few dollars a month.
"They completely rethought the business model," she said.
"Men don't really like to shop. Men like to make things really easy - they would love to have these blades mailed to them so they don't have to think about going out to the store and buying them… it really started to put significant shared loss to both of the two big players."