query($sql); $row = $d->fetch_array(); return $row; } function remove_product($pid,$size,$mau){ $pid=intval($pid); $max=count($_SESSION['cart']); for($i=0;$i<$max;$i++){ if($pid==$_SESSION['cart'][$i]['productid'] && $size==$_SESSION['cart'][$i]['size'] && $mau==$_SESSION['cart'][$i]['mau']){ unset($_SESSION['cart'][$i]); break; } } $_SESSION['cart']=array_values($_SESSION['cart']); if(count($_SESSION['cart'])==0) { $redirect=true; } else { $redirect=false; } } function get_order_total(){ global $d; $max=count($_SESSION['cart']); $sum=0; for($i=0;$i<$max;$i++){ $pid=$_SESSION['cart'][$i]['productid']; $q=$_SESSION['cart'][$i]['qty']; $price=get_product($pid); $sum+=$price['gia']*$q; } return $sum; } function get_total(){ $max=count($_SESSION['cart']); $sum=0; for($i=0;$i<$max;$i++){ $q=$_SESSION['cart'][$i]['qty']; $sum+=$q; } return $sum; } function addtocart($pid,$q,$size,$mau){ if($pid<1 or $q<1) return; if(is_array($_SESSION['cart'])){ $ck=product_exists($pid,$size,$mau); if($ck==-1) { ## Sản phẩm chưa có => thêm vào giỏ hàng $max=count($_SESSION['cart']); $_SESSION['cart'][$max]['productid']=$pid; $_SESSION['cart'][$max]['qty']=$q; $_SESSION['cart'][$max]['size']=$size; $_SESSION['cart'][$max]['mau']=$mau; } else { ## Sản phẩm đã có => cộng dồn số lượng $_SESSION['cart'][$ck]['qty']=$q+$_SESSION['cart'][$ck]['qty']; } } else{ $_SESSION['cart']=array(); $_SESSION['cart'][0]['productid']=$pid; $_SESSION['cart'][0]['qty']=$q; $_SESSION['cart'][0]['size']=$size; $_SESSION['cart'][0]['mau']=$mau; } } function product_exists($pid,$size,$mau){ $pid=intval($pid); $max=count($_SESSION['cart']); $flag=-1; for($i=0;$i<$max;$i++){ if($pid==$_SESSION['cart'][$i]['productid'] && $size==$_SESSION['cart'][$i]['size'] && $mau==$_SESSION['cart'][$i]['mau']){ $flag=$i; break; } } return $flag; } ?> Online Upstarts Pose a Threat to Procter & Gamble

Online Upstarts Pose a Threat to Procter & Gamble

Online Upstarts Pose a Threat to Procter & Gamble

Online Upstarts Pose a Threat to Procter & Gamble

Online Upstarts Pose a Threat to Procter & Gamble

Online Upstarts Pose a Threat to Procter & Gamble
Online Upstarts Pose a Threat to Procter & Gamble
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Online Upstarts Pose a Threat to Procter & Gamble

Online Upstarts Pose a Threat to Procter & Gamble

Shave Club syndrome could hamper Procter & Gamble’s makeover.

David S. Taylor, chief executive of Procter & Gamble, has spruced it up since taking charge in November, but growth remains a challenge. Now a profusion of internet-adept rivals like Dollar Shave Club threatens to steal customers and cut into the merchant’s margins.

Procter & Gamble’s almost $2 billion of fourth-quarter earnings, reported on Tuesday, beat estimates, but core sales grew just 2 percent compared with the same period last year, short of a longer-term goal of growing faster than the market.

The company, valued at $230 billion, expects the muted sales trend to continue over the next 12 months. That will blunt the effects of its cost-cutting program and a nearly completed project to divest itself of about 100 underperforming brands to simplify business around its biggest, most profitable products.

Competition from big consumer rivals has already forced Procter & Gamble to invest more heavily in marketing and product development: selling, general and administrative costs soaked up nearly a third of revenue last quarter, around 3 percentage points more than in the same period last year.

Unilever’s purchase of the upstart Dollar Shave Club last month for $1 billion suggests that the pressure could grow from here. The problem, as Mr. Taylor explained, is that the rise of e-commerce and social media has reduced the cost of entry for new competitors.

That is bad news for the grooming and health care divisions, which had the best revenue growth of Procter & Gamble’s units. Dollar Shave’s cut-price razors have already affected Procter & Gamble’s profitable Gillette shaving businesses; the company could do even more damage in the hands of the affluent Unilever.

Mr. Taylor noted “many examples” of internet-based competitors popping up in its established markets and in China. That suggests the industry’s established companies will have to invest more in their own brands or buy trendy new players at inflated prices to neutralize the threat.

Despite the mounting competition, Procter & Gamble’s shares trade on nearly 22 times expected earnings over the next 12 months, according to Thomson Reuters data. That may reflect investors’ hunger for the company’s reliable dividends. But it is hard to square with rising competition in a slow-growth business.

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