Enabling CPG & Retail Industries with digital Technologies to maximize ROI
Consumer packaged goods (CPG) are a type of goods consumed every day by the average consumer. The goods in this category are ones that need to be replaced frequently, compared to those that are usable for extended periods of time. Companies that produce CPG products are called Consumer Packaged Goods (CPG) Companies.
The CPG industry is one of the largest in North America, valued at approximately $2 trillion. The CPG industry has been going through a sea of change due to several factors:
- Highly competitive due to many players
- Low switching costs
- Increase in online services
- Slow or flattening population growth
- Stagnant wages and younger generation being less wealthy than their parents
- Slow GDP growth in emerging markets
Despite these challenges, CPG companies have a significant opportunity ahead of them through
- Continuous innovation
- Global expansion
- Building scale across sales, marketing, R&D, manufacturing and distribution
- Technology modernization and using technology to stay close to the consumer
The advent of digital technologies has enabled the industry to enhance customer experiences, helped them acquire customer faster and offer personalized solutions. Netwoven has worked with some of the world’s largest CPG companies and has helped them with creating innovative solutions and maximizing the use of technology. Our consultants are well versed with the challenges and opportunities of the industry and how to maximize their technology investments.