NEW YORK — Colgate-Palmolive is soliciting feedback on possible new products from 'digital twins' of prospective consumers, the company's chief analytics and insights officer Diana Schildhouse said on a Reuters NEXT panel on Tuesday.
NEW YORK — Colgate-Palmolive is soliciting feedback on possible new products from 'digital twins' of prospective consumers, the company's chief analytics and insights officer Diana Schildhouse said on a Reuters NEXT panel on Tuesday.New York-based Colgate built the 'digital twins' — programmed to simulate a real-life consumer — internally to speed up the process of coming up with new and enhanced products, Schildhouse said.
Consumer goods makers like Colgate look to develop new versions of household staples like toothpaste, dish soap and toilet paper to encourage consumers to buy more and pay steeper prices. The industry has seen faltering sales as cash-strapped shoppers pull back after years of inflation.Schildhouse said on the sidelines of the Reuters NEXT conference that Colgate will still test new products on human consumers for their feedback.
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