Eighty percent of consumer goods CEOs think their operating model is at risk.1 Why is that? Simply put, given how fast consumer preferences and the retail landscape are evolving, consumer goods businesses are being challenged to keep pace like never before.
Consumer motivations and expectations are rapidly evolving. Good for me and good for the planet is high on the buying agenda. Sustainability really matters to consumers and they want to be part of the solution. For example, 73 percent of millennials are willing to pay more for sustainably produced products.2 As the head of a CG company, you must look at your end-to-end manufacturing and product lifecycle process, and find ways to reduce waste and improve overall product sustainability. Digital technology can empower your consumer goods company to take control, increase product traceability, and measure the entire product lifecycle, helping to reduce a company’s carbon emissions. The time is now to adopt an intelligent and sustainable operating model to enable doing good while improving growth.
We at Microsoft understand that knowing where to start on your digital transformation journey may feel overwhelming, but that’s why we’re here.
- Optimize brand performance—Make every marketing dollar count. The better you understand your brand performance and consumers’ behavior, and what’s working in your marketing campaigns, the better ROI you can drive from your marketing spend.
- Deliver sustainable and operational excellence—Find efficiencies across your operating model to become more agile and green. Eliminate waste and meet demand with precision.
- Create a connected enterprise—Empower your ecosystem with digital tools to enhance connectivity and productivity, and to deliver world-class retail execution.
For example, transform in-store merchandising and auditing to improve business processes so you can optimize the time your reps and merchandisers spend in trade.
- Accelerate innovation—Go beyond the norms of innovation to find new ways to delight and engage your consumers and shoppers. Forward-thinking brands are going beyond the usual innovate of a new product, pack and price, and thinking about how they can use technology to bring their brand to life at the point of purchase.
Check out these five things you can do right now to better understand your customers and where your technology fits in to gain an edge over your competition. Read the 5 Ways to Outsmart Your Consumer Goods Competition e-book and kick start your digital transformation journey.
1 “Agile in the consumer-goods industry: The transformation of the brand manager,” McKinsey & Co., 2019.
2 “Consumer-Goods’ Brands That Demonstrate Commitment to Sustainability Outperform Those That Don’t,” Nielsen, 2015.