The consumer goods industry has been in a state of slowing growth and therefore on a journey to get lean to be more profitable. Forty-two percent of survey respondents are in the process of designing for growth by optimizing costs and expect completion within a year, and 61 percent anticipate their journey to be completed within the next 6 to 12 months.
Although a majority of consumer goods companies have reduced costs and made operations leaner, it’s time to pivot to growth. Funding investment in profitable growth will keep consumer goods companies competitive in the fast-changing digital age. Digital has already disrupted the consumer goods industry and it will continue to do so. Now, businesses need to restructure their operating model to be more agile, responsive and engaging to seize the opportunities of the future.
Accenture globally surveyed consumer goods executives and investor analysts.
Investor analysts do not believe the consumer goods industry needs to focus on cost management at the moment.