What’s occupying the minds of consumer goods (CG) leaders as they navigate an uncertain economy?
How to achieve profitable growth as they try to do more with less.
To do this, decision makers are operationalizing insights from their wealth of retailer and consumer data. However, although the opportunities to boost efficiency and build brand relevance are immense, so are the challenges.
Why? Increasing amounts of data and more information sources are adding complexity to an already complicated process. And as companies are discovering, putting that data to work is easier said than done.
- Efficient Growth Is the Name of the Game
As higher costs and price-sensitive consumers pressure profits, companies are focused on increasing margins. Ninety percent of CG respondents expect profitable growth over the next 24 months.
- Digital Engagement Is a Top Priority
Companies are building connections with consumers by investing in digital marketing, service, and direct-to-consumer selling. CG Companies plan to invest in social media more than any other marketing channel.
- Data Fuels Increasing Complexity and Opportunity
Companies are good at collecting data, but putting it into action is another matter. CG marketers collect data from an estimated average of 18 sources — up from 10 in 2021.
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