As we kick off the new year and reflect on major trends impacting the industry, it’s impossible to deny that we’re at a critical turning point. Consumers rule our world, and capitalizing on the ever-changing needs of today’s digital consumer is key.
The following is the first installment of "Serving Tomorrow's Consumer," a new blog series in which industry thought leader Michael Forhez of Oracle examines the key marketplace changes and business challenges confronting and confounding the consumer goods industry.
As the world population rises, a growing percentage is urban and middle class. These new consumers are attractive to CG companies, but they are also demanding and difficult to reach. Brands must find a way to penetrate these markets while maintaining profitability — here’s how.
With domestic sales growth becoming increasingly difficult to achieve, it has become critical for consumer goods companies to adapt their supply chain capabilities to profitably bring their products to new and emerging markets.