2023 Predictions and Priorities for Next-Gen CPG Commerce

It’s been another busy, challenging year for the consumer goods industry, with business still shaped by supply chain disruptions, rising prices, and unpredictable shopper behaviors. Can we expect more of the same in 2023? Read on to get the latest pulse check on industry priorities, and place your bets on whether these 2023 predictions will ring true or not. In this Fireside Chat with CGT, Liz Papasakelariou, group VP, managing partner at Publicis Sapient, maps out some of the hopes, fears and strategic areas of focus for CPGs in the upcoming months. Papasakelariou has CPG in her veins, having spent most of her career in the industry in a variety of roles, ranging from brand marketing to technology to consulting. Looking ahead, she anticipates that persistent challenges such as supply chain disruption and inflation will continue to complicate the CPG landscape, with pricing — specifically spiking gas prices — at the top of mind for many leaders in this field. As Papasakelariou points out, the pandemic exposed just how unprepared CPGs were for the confluence of rapidly evolving technologies, consumer demographic changes, and changing consumer tastes. All of these factors continue to contribute to a complex and volatile environment as we head into 2023. So, what can be done? As always, CPG companies are hoping for the best and preparing for the worst. One thing to consider is the short term shift in value perception, Papasakelariou says: “Tastes are going to change, value experiences are going to be expected." Personalization, also, will only become more important. Increasingly, the question is: What are brands doing for customers, especially if they’re spending more money? And how do brands start to build that community around those brand believers? In the longer term, Papasakelariou also taps supply chain optimization and sustainability initiatives as top-of-mind priorities. Data is the common thread binding these disparate, competing themes. However, as Papasakelariou notes, CPGs should not only be setting up strategies to gather data, but also learning to use it correctly. This can take many forms— from the collection stage, right up to analysis, hypothesis testing and using data for hyper-segmentation. The tools are out there, Papasakelariou points out, but we need to know how to use them. Watch the full conversation to learn where CPG executives are keeping their focus as they head into a new year.

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