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Thursday, May 26, 2022

Procter & Gamble Bets on a BeautySphere Metaverse

My long-ago employer.  We played with early capabilities like the metaverse then, but not strongly consumer facing ones.   Much of that experiment was recorded here.  Yes I am surprised. it is unexpected.  Not really the world of their typical customers. Or are those consumers  moving there?    Still don't see it, but a big bet it is.  Please don't screw it up.  Call me if you would like to discuss.

Procter & Gamble is placing a big bet on the metaverse to support its suite of brands Creative and a technical leaders from the consumer goods giant share their reasoning for pursuing the metaverse, which they say they see as a learning opportunity.  A BeautySphere.   Following.  

Procter & Gamble is placing a big bet on the metaverse to support its suite of brands  By  Aman Kidwai         May 25, 2022 6:35 PM EDT  in Fortune.

It may be surprising that a 180-year-old maker of consumer products for the physical world is spending significant time and resources on the metaverse. But as leaders from Procter & Gamble explain, the main purpose of their exploration is to find new ways to interact with prospective customers and add value for them and retail partners.

How is success achieved through transformation

At the Fortune Brainstorm Design conference on Tuesday, Phil Duncan, chief design officer at Procter & Gamble, said “any time that there's a place where consumers are gravitating toward,” P&G is looking “to grow our businesses and, obviously, win the hearts and minds of consumers.”

“We're stepping into this environment to learn and understand how engagement really matters with consumers and ultimately create value,” he later added.

The consumer goods giant is one of many Fortune 500 companies making its mark in the metaverse, an online world where companies and people can maintain avatars, spaces, and other virtual presences. One project P&G has used the metaverse for is to replicate the experience of the Consumer Electronics Show (CES), a premier industry event, during the pandemic. The company made a similar push to put brand activations and experiences from its 2020 Tokyo Olympics sponsorship into the metaverse.

“The pandemic situation made it a bit more real for us to put it in practice and have a big, open mind to try them,” said Ioana Matei, head of emerging/immersive technologies at Procter & Gamble. Duncan credited Matei as his “reverse mentor” for this project, due to his lack of experience in this arena in other design initiatives he’s led.  ... ' 

For more of an inside Procter & Gamble Perspective.

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