Making space to grow in consumer goods
CPGs that radically rethink their foundations to operate as digital businesses can seize the opportunity to grow digital commerce.
The role of digital is not just about transactions. Today’s consumers move across both physical and digital touchpoints all the time, and customers are no different.
They want the same seamless experiences in their professional dealings with CPGs that they have as consumers – and most of them (87%) believe that that answer is in B2B commerce solutions that mimic the B2C experience.
Digital engagement is the single biggest driver of commerce online, and in the store. Welcome to the new era of commerce.
92% of consumers across 11 countries purchase through digital commerce channels today.
The shifts in CPG commerce are a departure from how things have always been done. Taking advantage of them demands key decisions from all leaders – and changes across the business.
With commerce being an increasingly critical consumer engagement channel in CPG, the brand experience should be consistent in every relevant channel. Every time.
CPGs can make change happen by building the technology foundation to be more data-driven and integrating processes to be more agile.
It is key for CPGs to join up Marketing, Sales and Commerce, and the rest of the organization to operate with true agility.
Commerce is pushing CPGs to be more digitally enabled. CPGs can continue to follow where the wave of change takes them, or they can gain control by developing a strategy that addresses these fundamentals:
Avoid the trap of showing up equally in every channel. CPGs should develop their channel strategies to understand the value potential of every channel by category, brand and geography.
Stabilize the operating model. It’s not about integrating functions. It’s about finding seamless ways of working among functions and integrating planning processes.
Go beyond reskilling employees, enabling them with tools and recruiting digital talent. Educate everyone about the commerce space and explore alternative strategies to get the right resources fast.
Develop a platform ecosystem that integrates across the value chain and business functions to support omnichannel experiences for consumers and customers.
Build a secure consumer and customer data foundation and analytics enabled by cloud. With this foundation, CPGs can act like industries that have embraced data-driven and dynamic operations.