Why Guess When You Can Forecast? The Consumer-Packaged Goods (CPG) industry has been facing challenging scenarios in the recent past. CPGs are struggling to keep up with trends including evolving consumer behaviors, purchasing patterns, and disruptions in global supply chains. However, leading CPGs have realized that they can no longer afford to ‘respond’ to consumer demand but need to forecast… Read More »Why Guess When You Can Forecast?
Capitalizing On the Wave of Uncertainty with Promotions Several industries and their respective consumers have been greatly affected by the pandemic. The Nielsen IQ 2022 Consumer Outlook online survey reveals that 74% of global respondents believe that their priorities, and resulting shopping habits, have been impacted by the COVID-19 pandemic. Here’s an interesting read on the trends and patterns observed… Read More »Capitalizing On the Wave of Uncertainty with Promotions
Organizations that nail an effective pricing strategy are able to actively respond to market volatility, generate value swiftly and as a result, boost their top-line growth. To be equipped with an effective pricing strategy, CPGs need a strong internal capability that is fueled by data to turn opportunities into value offerings and maximize profits over time. There is enough evidence… Read More »Creating an Optimal Pricing Strategy with Data
Only businesses that are analytically mature are able to deliver value to their customers and open new avenues for revenue growth. To achieve complete analytical maturity, businesses need to ingest data from various operational systems, combine them into a lone source, perform various cleaning mechanisms and analyze it. In other words, to achieve analytical maturity, businesses need to unify their… Read More »Can Integrated CPG Solutions Help in Boosting Top-Line Growth?
The Pandemic’s Effect on CPG Companies – A Trends and Patterns Overview The pandemic has changed the way we interact socially and with brands. While some stocked up on necessary supplies for the lockdowns, supply chains were disrupted, retailers were forced to shut down and CPG companies struggled to ensure skyrocketing demands. Although global trade fell by 8.9% in 2020,… Read More »The Pandemic’s Effect on CPG Companies – A Trends and Patterns Overview
AI’s Role in A Successful RGM Strategy In today’s world, CPG companies face a unique challenge – maintain and maximize top-line while lowering spend. Solving this challenge through RGM is often a balance between predicting consumer behavior across channels and analyzing data from assortment, distribution, and promotion activities. A recent study by the Boston Consulting Group (BCG) found that CPG companies can… Read More »AI’s Role in A Successful RGM Strategy
The pandemic has changed the way people shop. Companies relying on predictable consumer behaviour are struggling. While commodity-based companies saw a huge growth during the pandemic due to panic buying, many others suffered devastating blows to their supply chains, production, and sales. While some companies saw steady organic growth even during this time, the importance of having strategies in place… Read More »Why A Robust Revenue Growth Management System Is Crucial for a CPG Manufacturer in 2022
Unlocking Business Value and Boosting ROI through Revenue Growth Management – Part 3 The retail landscape is witnessing a sweeping disarray of changes which has created immense pressure on CPG companies. Firstly, consumers have strayed from the traditional path of purchase, with a rise in e-commerce sales from a mere 4.2% in 2010 to 13.6% in 2021. They now use… Read More »Unlocking Business Value and Boosting ROI through Revenue Growth Management – Part 3
Unlocking Business Value and Boosting ROI through Revenue Growth Management – Part 2 CPG companies collect a vast variety of data which is market-specific and channel-specific such as Point of Sale data, brand and loyalty data, Channel data, shopper research, D2C sales analysis, social media data, third party data like Nielsen and so on. Taking a leaf out from Harnessing… Read More »Unlocking Business Value and Boosting ROI through Revenue Growth Management – Part 2
Unlocking Business Value and Boosting ROI through Revenue Growth Management – Part 1 Did you know that if CPG companies effectively scale their Revenue Growth Management (RGM) capabilities, it can result in a 3-5% increase or more in margin? RGM enables stakeholders to gain a holistic view and identify gaps such as low ROI trade spends, ineffective assortment, or poorly… Read More »Unlocking Business Value and Boosting ROI through Revenue Growth Management – Part 1