What seven data-driven trends are impacting your future? has been saved
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What seven data-driven trends are impacting your future?
Setting the strategy for the future of your retail and consumer products company
Many industry analysts, experts, and pundits have been predicting the future of retail and consumer products for the last 20 years. However, many of these predictions were self-serving, failed to specify a clear time horizon, or did not take into consideration any regulatory hurdles and the economic reality. It was about time that we consulted relevant data instead of our chrystal ball to make more accurate predictions. So we did. What will this digital transformation look like and how to prepare your RCP company?
Four disruptive forces in retail and consumer products
More than ever, the industry is hungry for a better understanding of the future of retail and consumer products (RCP). Based on the monitoring and analysis of a diverse set of real-time data, we have built a framework of four disruptive forces, including technology and changing consumer demands. The interplay of these forces has given rise to a set of seven broad yet distinct, measurable trends that are shaping the future of RCP.
Seven data-driven trends shaping your future
Trend 1: Commoditization and premiumization
Today, consumers have more choices and competition in the RCP market is increasing. Obviously, this is good news for consumers, but what impact does this development have on RCP companies in terms of margins, and how can they still drive profitability, customer loyalty, and growth?
Trend 2: Digital ad spend
In many retail categories the device is: if you aren’t winning in digital and mobile, you aren’t winning the battle for growth. But are the increased costs for companies to drive traffic and customer loyalty matched by sales growth?
Trend 3: Brick and mortar
Physical retail stores are not dead, but they are changing. In what ways, and what does this mean for big and small retailers? What can be their key to success?
Trend 4: New models, growing impact
In order to accelerate growth and meet changing consumer demands, RCP companies continue to expand outside of their traditional revenue models. Which of the new models are going to be successful in the future?
Trend 5: Convenience
Not “experiential” retail, but convenience is driving the maximum market growth. What kind of convenience is the consumer looking for?
Trend 6: Health and sustainability
It is true that the consumer is becoming more “health conscious” and “sustainability seeking”. However, not all consumers can afford healthy and sustainable products. This presents challenges and opportunities for retailers and consumer products players alike.
Trend 7: Consolidation and fragmentation
Are the retail and consumer products markets moving towards consolidation or fragmentation? And what kind of unique challenges and opportunities are arising for RCP companies?
Setting the strategy
In our report we discuss these trends in more detail. Also, we introduce a pragmatic, data-centric, and consumer-focused approach that will enable better informed decisions, strategies, and investments for future growth in a disruptive market. We also pay attention to the impact of COVID-19 on the seven trends that are shaping the future of RCP. For more impact of COVID-19 on your local RCP-market, please consult our Deloitte State of the Consumer Tracker.
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