Know your customers better and leverage technology to stay relevant, uncover new business opportunities and achieve sustainable growth with profitability.
Consumer products companies typically can have hundreds of products, multiple brands, target consumer groups, geographies and channels of distribution. The complexity of such a portfolio creates unique challenges, from managing brand perceptions of all the brands, to maintaining supply chain efficiency at all times. At the same time, the industry is being disrupted by rampant digitalization and rapidly changing consumer behaviors. Here are some of the key trends to watch out for:
- COVID-19 has led to one of the most severe public-health and economic crises in the modern era which has led to unpredictable shopping behaviors. Subsequently, a new wave of digital customer experiences, based on personal preferences and omni-channel presence is in the making. Market leaders are already restructuring their go-to-market strategies to drive more productivity with fewer points of distribution and to build direct-to-consumer strategies.
- Digital transformation has become an imminent priority for the consumer products industry. Companies must develop digital capabilities across business functions and value chains to be able to drive consumer-centric innovation.
- Increasingly stringent regulatory environment and rising commodity costs have left companies under tremendous pressure on profitability. Increasing competition in developing markets and popularity of private label standalone brands has added to the pressure.
It is imperative that companies in the consumer products industry take comprehensive action in a carefully coordinated approach. They must act now and take control of strategic business planning and investment decisions to support profitable growth. Valorant brings in deep industry experience, sophisticated digital and analytical capabilities along with an agile implementation approach to help solve complex issues and set you on the path to success. We work with your leadership and cross functional teams to drive growth, create competitive advantage, identify value creation opportunities and mitigate risk.