Trends in the consumer goods industry
State-of-the-art technology in the consumer goods industry with Bross
Production and logistics in the consumer goods industry
The consumer goods industry is currently undergoing a digital transformation. This transformation and other trends in the consumer goods industry have effects that are already visible across all stages of the value chain. These range from manufacturing and marketing to last-mile delivery. It is therefore only a matter of a few years before household appliances such as fridges automatically order consumer goods that are produced by robots and 3D printers. These orders will then be delivered to end customers by autonomous vehicles such as drones and driverless vehicles. These technological developments will fundamentally change the consumer goods industry. As long as companies do not adapt to the changing dynamics of the industry, they risk extinction. Globalization and competition from Asia are also intensifying the cost pressure. Bross Consulting supports its clients in adopting new technological trends and continuously developing their business models.
Current trends in the consumer goods industry
E-Commerce
There is a big shift towards e-commerce, especially among millennials who prefer to discover and buy goods online. According to the World Economic Forum’s report on the consumer goods industry, the next decade will be the golden decade for consumers. This is because personalized products and services will meet their needs and tastes.
Customer is king
Advances in digital technologies and platforms such as social media, e-commerce and online reviews are empowering customers. This makes them one of the most important trends in the consumer goods industry. Customers therefore have the power to influence many decisions within established companies. As a result, they can have a say in what, how and when a product is produced and delivered.
Cost pressure and competition
Ongoing cost pressure remains a challenge for competitiveness in the consumer goods industry. In order to reduce costs, consumer goods manufacturers regularly scrutinize the entire value chain. Some trends in the consumer goods industry therefore focus on optimizing processes in logistics or production. Indirect areas such as purchasing are also being optimized. Another constant challenge for companies is to increase sales and gain new market shares. Advertising campaigns must be carried out efficiently without cannibalizing the company’s own products.
Your contact person
Alexander Follath
Senior Consultant
Linkedin
+49 89 413276720
info@bross-consulting.com