Colgate-Palmolive Explores New Products with Digital Twins

By Jessica DiNapoli

NEW YORK (Reuters) – Colgate-Palmolive (NYSE:CL) is seeking feedback on potential new products using "digital twins" of prospective consumers, as shared by the company's Chief Analytics & Insights Officer, Diana Schildhouse, during a Reuters NEXT panel on Tuesday.

Based in New York, Colgate developed these "digital twins" internally to accelerate the creation of new and improved products. These simulated consumers are designed to react to claims and features of prospective products.

Additionally, companies can create digital twins of their supply chains, enabling them to identify and resolve potential issues.

To stimulate consumer spending on their staple products like toothpaste, dish soap, and toilet paper, Colgate and similar firms are focused on developing new versions as sales decline due to consumers cutting back amidst inflation.

Schildhouse mentioned that Colgate will continue to test new products on real consumers to gain feedback.

Furthermore, Colgate is collaborating with Market Logic to utilize a generative artificial intelligence program for analyzing proprietary consumer research. Employees can query this program about consumer trends, such as tooth whitening preferences in specific regions.

Schildhouse emphasized that any new technology, including generative AI, must provide value by enhancing sales, reducing costs, or saving time.

For a live broadcast of the World Stage, visit the Reuters NEXT news page.