In the modern competitive CPG marketplace, brands must start adopting multi-channel strategies to reach consumers and deliver an enhanced experience.
FREMONT, CA: The world of Consumer Packaged Goods (CPG) is transforming. To stay relevant in the industry and battle competition, brands need to stay abreast of the latest CPG industry trends. With these top trends, brands can easily get ahead of the game and dive deep into what's next
• Product and Packaging Transparency
In a world with overloaded information, consumers are using it to hold brands to corporate social responsibility better. Beyond this, consumers expect transparency from the CPG industry. Transparency can come in many different forms. Brands can choose to be transparent in where the products are sourced, at a specific point in the supply chain. Transparency can also mean giving CPG brand an authentic voice and targeting consumers in a way that is true to the product and organization.
• Tapping into Social Media
As the boundaries separating online and offline blur, CPG companies are increasingly looking for avenues to stand out in a competitive landscape. Brands are using social media effectively to understand and even shape consumer opinion. According to reports, almost 26 percent of the purchases are being done based on recommendations, a majority of them being online reviews. So it is no wonder that CPG companies are increasingly using social media to understand consumer needs, gaps, and purchasing behavior leading to significant input for targeting, positioning, and new product development.
Companies are in a race to understand their customers more deeply. To send a unique offer to customers is becoming a focus area for CPG companies. They are increasingly spending on understanding customer journeys to get insights on the purchase path and utilize that to drive sales. CPG companies are now deploying sensors in products to gain more insights about consumer behavior. This will allow them to offer customized marketing deals to consumers based on their past behavior and consumption patterns.
In a fast-changing industry, it may seem frustrating to move the focus from one trend to the next. However, if brands don’t have this forward-thinking mindset, their product will likely be left in the dust. Therefore, it is essential to stay focussed and be prepared for the next big thing that may disrupt CPG companies and the industry as a whole.