Technology helps suppliers stand out and counter retail pressures such as changing consumer demographics, increased digital commerce, reduced brand loyalty, and more demanding customers on top of helping them engage retailers, consumers and boost profitability.
Taking advantage of technology trends can give CPG companies the digital edge needed to appeal to consumers’ desires to have relevant one-on-one customer and brand interactions. There exist numerous technologies for CPG companies, below are some of the technologies CPG industry leaders need to act on so as to remain relevant and keep pace with the competition.
This provides access to new ideas that increase sales and consumer relevance. There are a variety of ways to begin leveraging the power of the crowd. Among them include bringing customers into the fold for product innovation, gaining access to specialized skills needed through short-term staff-up, and bringing the store to you, where you share information through the crowd about the lack of inventory instead of redeploying people from the field to visit the store.
CPG companies must consider how they deploy apps and platforms that will provide the user experience that the field force (sales reps, merchandisers, and brand ambassadors) demand. They need to move from building and maintaining applications to renting them in the cloud.
Bringing Architecture Resilience to Life
This is the kind of mindset very few CPG companies have, yet it is a critical factor for success in the digital world today. By using programs such as Ivy Mobility Retail Execution,’ a CPG company will be adequately prepared to face any challenge that may come their way and in the process become more resilient.