Colgate-Palmolive cites Cloud, data and ecommerce as key drivers of growth
Colgate-Palmolive has released positive Q1 results, which have been boosted by technology transformation at the firm.
Net sales for the first quarter of 2019 came to $3.84mn, with organic sales having increased. CEO and President Noel Wallace commented: “We are pleased with the improvement in organic sales growth this quarter and that the growth was broad based, with emerging markets and developed markets each growing 3.0%.”
Wallace commented that Colgate’s plans to accelerate growth had begun to pay off, with strong growth led by its toothpaste and Hill’s businesses.
Indeed, Colgate continues to dominate the toothpaste market with 41.7% of global market share, and the business has been putting increased investment into advertising.
Celebrating strong ecommerce growth in 2018, the firm showed a commitment to building on this as well as continuing to innovate. “We are investing in expanding our portfolio offerings by bringing brands like elmex and meridol into new markets and by broadening our ecommerce offerings,” said Wallace.
Ecommerce growth was noted as particularly strong across North America, and the company has also heavily invested in Cloud capabilities over the past few years which have been leveraged to increase efficiency.
During a call explaining the Q1 figures, Wallace mentioned the importance of data in improving ROI, especially in terms of data-driven marketing.
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