Every day, we sit at our computers and read the constant flow of headlines that cross the wires. In our meetings, we hear about our competitors, from what they are working on to how they are getting it done.
It is these stories that drive organizations to innovate and perform better. It is these conversations that create change, build great customer experiences, and forge lasting relationships.
In this collection, we look at key trends in the consumer goods industry and offer specific insights into:
- Market Forces
- Digital Experience
- Business Optimization
- Emerging Technologies
Below are a few key trends in the consumer goods industry:
- Two-thirds of all U.S. consumers expect direct access to the companies from which they buy goods and services. Utah Business
- AI and image-recognition technologies can ease the procurement process and reduce the time it takes to send an order. Venture Beat
- Friction-free shopping is all about making the buying process as convenient and automatic as possible. Global Data
- Companies can use AI to analyze consumer data and identify sentiments or behavior that are crucial not only in building positive experiences but also in the development and design of new product lines. Venture Beat
- Digital-native CPG brands are setting customer expectations ablaze with their D2C distribution models and personalization. Forbes
- Companies can leverage IoT technology for inventory management, supply chain transparency, and sensing and reacting to changing consumer demand. They can also use it for product reordering. Consumer Goods Technology
- 35% of work in a CPG company can be automated using currently available technology. McKinsey
- Using chatbots or voice assistants powered by natural language processing and machine learning, companies can tap consumer shopping data and history to provide hyper-personalized and automated customer service experiences. Venture Beat
It’s hoped that the trends and statistics presented will inspire and motivate you on your quest to become or remain an industry leader.
You can download the consumer goods trends guide below.