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Sunny prospects in a Cloudy environment in Consumer Goods Industry

Posted by: Shantha Maheshwari | April 21, 2011

Consumer Packaged Goods industry has the unique advantage of staying close to its consumers. The industry has emerged resilient from the recession days and is gearing up as consumer spending goes up. With changing consumer tastes, there is a huge onus on the industry leaders to maintain the connect with the consumers to create products that find acceptance while at the same time making sure that this is done in the most efficient way in terms of costs and resources. Developments like Social networking, Global Supply chains and Increasing competition from private labels have had a major impact on the way CPG companies do business. These developments have put onus on Consumer Goods companies to stay relevant to markets; stay ahead on consumer connects in the changing demographics. Technology plays an important role here during the execution of the firm’s business objectives in terms of the way customers are attracted and the way products are delivered and sold.