Rethinking strategies to tackle new industry pressures

1. CPGs must adapt to a human-centered future The consumer-packaged goods (CPG) industry is changing rapidly with new businesses emerging regularly, while consumer expectations are evolving. CPG companies must move away from a brand-led approach and adopt a full potential value model to become future-ready and human-led businesses. They need to reimagine their offerings, become data-fueled, and embrace emerging capabilities to generate sustainable value.

2. CPGs need to embrace digital channels for growth Digital channels are now an essential part of consumer engagement, and CPG companies need to think beyond online-offline paradigms and provide a consistent brand experience in every relevant channel. We identifies the strategies CPG leaders are implementing to operate as digital businesses and drive growth through digital commerce.

3. CPGs must adopt a holistic approach to cloud technology Many CPG companies are not fully realizing the benefits of cloud technology due to incomplete migrations and underutilization. Frontrunners adopt a holistic approach to cloud technology, while followers fall behind due to cloud adoption viewed as a mere cost reduction program. The report provides steps to avoid these barriers and fully leverage the potential of cloud technology.

4. CPGs need to rethink their strategies to keep up with changing consumer priorities. Consumer priorities are continually evolving, and the COVID-19 pandemic has further disrupted the industry. CPG companies must abandon preconceptions and adapt their strategies to accommodate new priorities, including virtual living, shifting priorities, and sustainability.