Consumer trust: Three imperatives for companies in the CPG industry

Overcoming challenges in the battle for trust

What does 2022 have in store for the consumer packaged goods (CPG) industry? Executives tell us that revenue and operating margins are the name of the game. But, as Deloitte’s 2022 consumer products industry outlook reveals, big challenges remain—including supply chain, labor, and inflation. And trust plays a role in all three.

In this Consumer Speaks podcast, host Sam Loughry sits down with Michael Bondar and Justin Cook to survey the landscape for the year ahead. Listen in as they discuss how the industry’s key challenges affect consumer trust, and what CPG companies can do to signal competence and intent across a diverse group of stakeholders.

The way that companies can build trust is through showing a high degree of competence in delivering whatever product or service that it promises to deliver, but also having the right intent behind its actions.

—Michael Bondar

2022 consumer products industry outlook

Bold moves made during last year’s uncertainty are paying off, as the year ahead for the consumer products industry looks to be one of strong economic growth. Yet, some challenges could stand in the way of continued progress. How can consumer packaged goods (CPG) companies outmaneuver these obstacles? Explore Deloitte’s perspective and what 100 executives from apparel, household goods, personal care, and food and beverage companies think awaits them in the year ahead.

Building Trust equity to strengthen stakeholder relationships

Why does Trust matter? We’ve entered the Trust Age: a time where (mis)information is omnipresent, individual perceptions reign supreme, and digital security and data privacy are constantly threatened. Now more than ever, stakeholders expect organizations to do the right things and do them well. These expectations range from entrusting an organization to safeguard one’s private data to requiring a company to have a strong stance on environmental, social, and governance (ESG) issues.

Making trust a strategic objective

Trust is a key asset in connecting a company and its purpose to its stakeholders. By building trust, C-suite executives enable their organization to achieve its aspirations, improve performance, and generate value.

About consumer speaks

On the Consumer Speaks accounting and reporting podcast series, you’ll hear from our Deloitte leaders and professionals as they share their experiences and insights on timely topics across the automotive, consumer products, retail, wholesale and distribution, transportation, hospitality, and services industries. Stay informed on the hottest topics facing these industries and how they can affect your business.

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