The availability of data is enabling a new era of collaboration between consumer goods manufacturers and retailers on digital initiatives. The key to finding success lies in putting advanced analytics and insights at the core of the relationship, with a combined, laser focus on understanding the customer.
According to an Accenture-commissioned study, 75 percent of consumer goods manufacturers expected improved collaboration with retailers, hoping to drive product availability and make the best use of shelf space and trade promotion funds. Unfortunately, it’s not happening at the speed at which they had hoped.
Companies that are having success are identifying and navigating around a few key obstacles first. Their focus has been primarily in resolving challenges in these six areas: