Consumer Goods - Trends

Consumer goods refer to the products and services purchased by individuals for personal use or consumption. Product design, marketing and advertising and supply chain management are key aspects of consumer goods that aim to cater to consumer needs, create brand awareness and ensure product availability.

Consumer goods companies are tapping into new data sources and analytics to gain a more holistic understanding of customers and their purchasing behaviors. Technologies like computer vision, AI-powered recommendation engines and augmented/virtual reality are enhancing the online shopping experience. Meanwhile, the rise of direct-to-consumer brands challenges traditional retail models by removing intermediaries and allowing for ultra-personalization at scale. As consumer priorities evolve, expect to see more sustainable and socially-conscious products as well.

Changes in the global consumer and supply marketplaces during the next ten years are probably going to yield just as many losers as successes in the CPG industry. For instance – Asia will become the primary consumer market, surpassing the West and it will expect CPG companies to provide new standards of value and innovation. Growing Internet usage has the potential to disrupt established business models. Natural resource constraints coupled with globalised trade may bring in a new era of supply chain turbulence.