P&G competes with other leading players in personal care such as Unilever ( UL ), Kimberly-Clark ( KMB ) and Colgate-Palmolive ( CL ), and markets will watch these consumer goods bellwethers for signs on spending trends and inflationary concerns. Strategy Could Pay Off P&G is essentially targeting high volumes to compensate for low margins and reduced average prices of its products. Hence, for these investments in emerging markets to put P&G on the promised, long-term growth trajectory, volume gains must start appearing in the near future.