Procter & Gamble warns cuts fears risk a double dip
11 April 2012
Procter & Gamble, the consumer goods giant behind Pampers nappies and Tampax, today warned that falling confidence risks a double-dip recession in Britain.
Irwin Lee, boss of P&G in the UK and Ireland, said fears about public-sector cuts and the rise in VAT to 20% in January are hitting confidence.
But he urged retailers to focus on innovation, particularly with the internet and social media, as a way to connect with consumers.
"We can dig ourselves out of recession; or we can talk ourselves back into a double dip," Lee told the Institute of Certificated Grocers conference in London. "The consumer is, above all, resilient."
