Consumer packaged goods (CPG) companies are entering into the digital revolution. Accenture shares ideas on how to rethink their digital operating model.
Digital is blurring the boundaries between consumers, stores and consumer brands—forcing CPG companies to rethink their digital operating model or get left behind.
We believe that CPG companies that transform their business to embrace the digital operating model will find opportunities for continued growth and loyal digital consumers.
Accenture identified six opportunities for CPG companies to prosper in this age of digital disintermediation.
Most CPG companies’ experiments so far are tactical rather than strategic responses to the challenge of the digital revolution: digital add-ons to existing analog business.
If CPG companies are going to enjoy sustained growth into the future, they need to take a far more holistic approach that places the consumer at the center.
We are on the threshold of a dramatic digital disintermediation, which will affect all aspects of CPG businesses—including:
Supply chain and retailer engagement
Product creation and marketing
Consumer and shopper interactions
Accenture identified six ways CPG companies will need to prosper in this age of digital disintermediation:
Focus on consumer segments as the digital world erases geographic boundaries.
Expand into eCommerce and consider a direct-to-consumer approach for your consumer goods markets.
Integrate your entire CPG value chain to create a seamless consumer experience.
Engage in dialogue marketing to develop personalized digital relationships.
Expand your product range to meet diverse consumer needs, as the digital revolution decreases physical constraints.
Enable consumer co-creation with the mass-customization of products.