Digital Future of Retail and CPG

LATEST THINKING

The retail and consumer goods industries will change more in the next 10 years than they have over the past 40. One primary force is responsible—digitalization—and it has already begun.

As you read this, a digital wave is underway that could bring a cumulative US$2.95 trillion in operating profits by 2025 for the retail industry. Accenture Strategy sees four main drivers of success—actions leading companies can take—through 2025 that are critical for consumer companies. All are powered by digital, the key tool industry leaders will use to transform themselves for the next decade and beyond.

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KEY FINDINGS

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Leaders will use digital to understand and connect with consumers.

The average consumer has global access to more than one billion products. The result? Fragile customer loyalty. Digital technologies can help companies win with a host of new customer touchpoints.

Leaders will rapidly adopt game-changing technologies now.

We see eight technologies playing a key role through 2025, impacting all major areas of the business, from digital traceability to robotics. See the complete list by downloading the infographic.

Leaders will test new business models online and offline.

Mastering an omnichannel approach is key. Industry leaders are also already grappling with digitally enabled business models like the sharing economy (rentals), the personalization economy (curated subscriptions), auto replenishment and smart ordering via the on-demand economy, and the services economy (“Do it for me”).

Leaders will know the three must-have capabilities to thrive over the next decade.

Partnership mindset
Last-mile delivery
Advanced data sciences

RECOMMENDATIONS

Leaders are already using digital technologies to meet rapidly changing market needs. From developing platform-based ecosystem to better utilizing advanced data science, retailers are changing their business to become more competitive in the digital age.

Shaping the Future of Retail for Consumer Industries

To learn more in-depth about actions you can take today, please check out Accenture’s paper, written in conjunction with the World Economic Forum: “Shaping the Future of Retail for Consumer Industries.”

Turning up the digital dial now—focusing on the four areas we have discussed—could put your firm on the path to realizing its share of the trillions of consumer dollars at stake.

LEARN MORE ABOUT ACCENTURE STRATEGY

THE DIGITAL FUTURE

To discover more about the potential value your company could gain from digitalization, click to watch the videos featuring Chris Donnelly, senior managing director in Accenture Strategy Retail and Oliver Wright, managing director in Accenture Strategy Consumer Goods & Services.