Procter & Gamble & Walmart
Walmart is Procter and Gamble's largest single customer globally, accounting for approximately 14-16% of P&G's $84B in annual revenue. P&G's Tide, Pampers, Gillette, Bounty, Charmin, and Olay products are available in every Walmart store worldwide. The relationship defines modern retail power dynamics: Walmart's bargaining power forces competitive pricing while P&G's brand strength provides leverage smaller suppliers lack.
Why it matters: P&G's consumer staples depend on mass retail distribution. Despite the rise of DTC and e-commerce, Walmart's 10,500+ stores remain the most efficient path to reach price-sensitive US consumers. P&G's annual joint business planning sessions with Walmart are among the most consequential retail negotiations globally.