The global CPG industry has witnessed stellar growth over the last few decades. Spurred by burgeoning demand, companies have introduced innovative products, built global scale and expanded across continents in search of new markets and consumer segments. What is in store for CPG companies as they look ahead? The recalibration of the global economy following the recession of the 2000s combined with the shift of economic epicenter to the emerging economies implies that CPG companies will need to reorient themselves substantially to remain successful.
They need to develop a deep understanding of new markets (emerging economies), new consumer segments, evolving consumer buying habits, changing preferences, explore new trade channels and tweak the supply value chain to suit local characteristics.
The industry is grappling with the complexities of keeping an eye on a global, heterogeneous market comprising diverse consumer segments and profiles, and taking smart decisions on new product launches, promotions and discounts and sales and distribution channels. Technology can play a meaningful role in helping the CPG industry address the challenges of remaining relevant and successful in the coming decades.
More specifically, technology to help:
- Monitor efficacy of distributor value chain
- Engage with the consumer directly
- Track retail sales
iConcept’s solutions for the CPG industry help companies find answers to these very problems. Our products, built on mobile, GIS and cloud platforms, can help companies build a differentiated sales value chain: