Accenture recently worked with the global snacking company, Mondelēz International to strengthen their digital core, drive growth and optimize operations. Venky Rao, Accenture’s North America Consumer Goods and Services industry lead sat with Javier Polit, Chief Information and Digital Officer of Mondelēz International, to discuss the importance of building a strategy around a strong digital core and the work they are doing with Accenture to become a more data-driven, data-led, and AI-enabled company.
Their discussion covers several key areas Mondelēz International tackled on the road to their digital reinvention. From the importance of talent and establishing a dynamic learning culture to the six pillars of an AI strategy, Javier shared his insights on how Mondelēz International approached their transformation.
Rethinking strategies to tackle new industry pressures
Recessionary signs, decreasing consumer confidence and rising costs are shaking the consumer-packaged goods (CPG) industry. A reinvention strategy is key for manufacturers to remain relevant and embrace new market opportunities through technology and new ways of working.
THE HUMAN-CENTERED FUTURE OF CPGs
BOOSTING GROWTH IN A NEW COMMERCE ERA
THE DUALITY OF THE JOURNEY TO CLOUD FOR CPGs
A NEW APPROACH TO DYNAMIC CONSUMER PRIORITIES
Change is at our door, with five new CPG businesses emerging each week. What’s more, consumers now expect companies to address their changing living, working and leisure needs amid industry pressures.
CPGs are moving away from a brand-led approach to seeing consumers as individuals who want to own and architect the brands they engage with, bringing complexity, contradictions and unpredictable shifts. To address this scenario, CPGs must embrace 360° value to become future-ready, human-led and data-fueled businesses.
Companies that can reimagine their consumer offerings, reengineer themselves and dominate emerging capabilities will generate long-term, sustainable value. In our report, CPGs can explore the 5 principles and 12 characteristics they need to cultivate to become a future ready CPG.
The CPG industry is experiencing the largest channel proliferation and fundamental shift in consumer and customer relationships to date. Digital channels are now being used by 92% of consumers according to our research.
This transformation leaves CPGs rethinking how they use digital to shape the future of commerce. It’s no longer about the online-offline paradigm, but about becoming digital from the inside out and providing a consistent brand experience in every relevant channel.
Accenture outlines what CPG leaders are doing differently to operate as a digital business and grow digital commerce.
Unlocking the full benefits of cloud technology requires CPG companies to take a holistic approach. In the industry, an impressive 48% haven’t taken this road, restricting the positive impact of their journey.
CPGs are falling into two archetypes in their cloud transformations: frontrunners and followers. Frontrunners are agile organizations boosted by robust data and analytics capabilities, using granular insights to anticipate and respond to consumers’ needs. On the other hand, followers fall behind due to their leaders seeing cloud as a mere cost reduction program—never fully migrating to or leveraging the potential of this technology.
Our report identifies the three barriers that are keeping CPGs from achieving the full benefits of cloud and steps to follow to avoid falling behind.
After two years of disruption, two in three consumers face budget restraints and their confidence is lower than it was during the pandemic.
Virtual ways of living, shifting priorities, and new approaches to sustainability are demanding the consumer-packaged goods (CPG) companies find new strategies to keep up with the ever-changing consumer.
To face these challenges, brands must abandon their preconceptions and understand the new consumer needs by rethinking talent, processes and technology.
As our report shows, an approach powered by industry-leading innovation, new leadership skills, empathy and a human-centered design will create new opportunities in this dynamic scenario.
Accenture Consumer Goods and Service consulting offers a full range of services that help identify new business growth opportunities, drive consumer goods innovation, technology transformation and personalized customer experiences.
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