Salesforce Debuts Consumer Goods Cloud
Salesforce is launching Consumer Goods Cloud, a product that enables consumer goods companies to drive revenue growth and maximize ROI through improved retail execution capabilities.
Retail execution – the act of getting the right products to the right stores at the right times – is vital to the success of CG companies, as 95% of CPGs are sold in physical stores.
The Consumer Goods Cloud enables reps to:
- use AI (Einstein Vision for the Consumer Goods Cloud) to optimize key tasks such as compliance and product placements
- drive higher revenues through better promotion execution and order management
- elevate the in-store experience for the end consumer
The Consumer Goods Cloud is planned to be widely available on Oct. 15.
Consumer goods field reps are responsible for delivering product and driving brand awareness in-stores. They often have to rely upon outdated systems, spreadsheets and paper-based reports to determine their daily travel route, where their products should be placed in the store, and to share real-time business insights and opportunities with both their executive team and store owners.
U.S. consumer goods companies spend about $200 billion every year for in-store merchandising and marketing, but consumer goods leaders say that 52% of their merchandising and marketing plans aren’t executed as intended in stores. That means more than $100 billion in annual trade spend is not optimized.
“Retail execution remains one of the most important pieces of a consumer goods brand’s strategy, but so much opportunity is wasted if the field rep doesn’t have the data and technology needed to make smart decisions,” said John Strain, Salesforce general manager and senior vice president, retail and consumer goods. “Consumer Goods Cloud provides these field reps with the tools they need to be successful on the ground, while helping build both business opportunities and stronger relationships with their retail partners.”
Accenture and PwC are among the pilot partners helping to extend the power of the Consumer Goods Cloud.