COVID-19: Impact on non-food consumer product companies has been saved
COVID-19: Impact on non-food consumer product companies
Guidance for Consumer Products executives leading non-food companies
Consumer Products companies are facing serious disruption in the supply of raw and finished materials as well as critical components because of the early impact of COVID-19 in China. Demand for electronics, hygiene, and specific sports categories is high and consumers are increasingly turning to online shopping for them. Meanwhile, demand for luxury goods has plummeted.
Topics covered in this article:
- Potential long-term impact on Consumer Product non-food companies, including changes to B2C strategies, coping with the inevitable backlog of orders, and pricing.
- Key questions leaders should be asking, including about the management of working capital, risks to the supply chain, and possible long-term shifts in consumer behavior.
- Practical next steps, including the optimization of flexible work arrangements, developing contingency plans, and reviewing channel strategy.
- Practical next steps, including contingency plans for supply chain disruptions, and supporting business continuity.