Producing a product that’ll intrigue a customer and secure a sale might seem a simple principle, but with a new era of the industry on the horizon, ensuring the hyper-relevance now expected by customers is set to shake the industry to its core.
If the consumer wasn’t at the centre of the consumer goods companies then, they certainly are now. That being said, managing the new growth needed to stay competitive and balancing this with the sector's new standards requires data and digital innovation to keep the ship afloat. And we can help you steer it to success.
Staying ahead of the curve in this industry seems straight-forward: remain relevant to the consumer, and reap in the extra revenue, right?
Rebrand To Relevance
Innovation might start with technology, but that doesn’t mean branding should go amiss. Reinvention is on the cards for businesses hoping to stay relevant to the consumer through new products and services curated from digitalisation.
Integrate The Marketplaces
In today’s world, everything is connected - and the marketplace is no different. Bring your business into the 21st century by tapping into the new marketplaces online, whilst aligning it with the shifting patterns of sales and distribution.
Innovation Is Here
Setting yourself apart from the competition starts with innovation, and reimagining customer experience begins with digital technologies. Finding solutions that step outside of the box requires the quick-thinking only a computer can do.
Relevance shouldn’t simply apply to your products - your content should entice the customers, too. In fact, it should be helping your customers navigate to your products. The digitalisation of this industry extends to the outreach of marketing, putting the customer’s personal experience at the forefront of the digital overhaul.
Central to this are the marketing campaigns that deliver the marketing-led growth needed to survive in the industry and expand your market share. This is typically founded on an operating model that revolves around the customer and is driven by intelligent technologies. It’s all about creating that must-have customer experience that'll keep 'em coming back for more, whether you're selling consumer packaged goods or high-ticket items. Can you do that alone?
The consumer goods and services industry is all about choice; it’s all about what your customers want, and when they want it. Not only can technology identify both of these things, it can streamline the business by providing the goods and services they are on the hunt for. For those with an ear to the ground, this process is also known as a Digital Transformation. A Digital Transformation is the rethinking of how you manage your employees, your clients’ and business’ data, and how you carry out your business operations. Or, in simple terms, a DT is the technological revamp your business needs to stay competitive.
Growth strategies, sales and trade promotion, marketing and intelligent enterprise enablement represent the core focuses of this industry’s focus. And all of these components of a digital transformation ally with consumer relevance on a new scale. With cloud computing to harness the power of sharing the new innovation, to intelligent transformations which influence finances, the supply chain, and the future of your business, to analytics devoted to understanding what your consumers want…
Redefining relevance has never been easier.
The specific technology this also encompasses includes the Internet of Things, and wearable technologies, allowing the monitoring of the entire supply chain. Matching this with innovative business models that are open to being re-assessed and re-defined completes the incomplete process.
What is the consumer goods and services sector?
This industry is comprised of stocks and companies that relate to goods and services purchased by individuals and households instead of manufacturers or industries. Examples of businesses operating within it include those that partake in food production, packaged goods, automobiles, and clothing.
What is the future of the consumer goods and services industry?
Despite the strength of this sector throughout the pandemic, the businesses operating within it are forecasted to focus their efforts on data analytics for effective decision-making, consumer insights for investments, and new business models that alter the employee experience.
Is the consumer goods and services sector growing?
With online sales increasing even despite the Covid-19 pandemic, the consumer goods and services industry is holding out against the global crisis. So far, stable growth is forecasted for this sector as shopper behaviour swiftly adapts to the new normal since eCommerce was already established among consumers.
What are the trends for the consumer goods and services sector?
To tap into the full potential of the future forecasted for this industry, the businesses operating within this sector need to consider digital platforms and VR technologies for a revitalised customer experience, subscription services for return customers, and interconnected manufacturing services that utilise the latest tech including AI, IoT, and digital reality.
What is digital retail?
It is defined as a collection of experiences that allow your customers to navigate and enjoy your website throughout the marketing, browsing, and purchasing journey. It is a series of steps to be followed from the initial marketing initiative to ‘add to basket’.
How is technology changing the consumer goods and services sector?
At the centre of the digital revolution for this sector is that of the mobile device. With smartphones in every backpocket around the world, eCommerce has shaped how we see adverts, browse products, and buy them. Matching this is drive for a new customer experience both in store and online.
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