Making the most of the CPG omnichannel world: Part 2 – Emerging consumer touchpoints has been saved
Making the most of the CPG omnichannel world: Part 2 – Emerging consumer touchpoints
Opportunities and strategies for CPGs and the metaverse
The metaverse is here. With it comes new possibilities for consumer packaged goods (CPGs). Discover how to enhance your omnichannel strategy to build brand presence and find success in the metaverse.
CPGs and the metaverse: It starts here
Technological innovation has caused a proliferation of new distribution, sales, and marketing touchpoints. How can CPGs increase profitability by evaluating and building out new revenue streams? How can they invest in brand-building activities to be noticed and take advantage of the opportunity to influence new consumer segments that are interacting with the new channels?
Figure 1. Setting the foundation for omnichannel
CPGs and the metaverse: Opportunities abound
The metaverse is top of mind for everyone, including business leaders across industries. Recent estimates of the commercial opportunity are as high as $13 trillion, with an estimated 5 billion regular users by 2030.1 While first movers have generally fallen outside of the CPG industry (e.g., sports, media, gaming, and apparel), CPGs are already capitalizing on the new consumer channel, such as the creation of immersive digital worlds for consumers to engage with brands.2 Creating a strong metaverse strategy for omnichannel allows CPGs to deepen the existing love and loyalty for their products, generate new buzz around their products in the digital universe, and build a relationship with new consumer segments.
For CPGs looking to capture opportunities in the metaverse, we recommend they consider the following:
CPGs and the metaverse: What comes next?
As the metaverse becomes a regular touchpoint in the consumer journey, tapping into this new market will allow CPGs to be where their consumers expect them to be. This channel will continue to change and offer new opportunities to interact with consumers and drive sales.
In our next installment of Making the most of the CPG omnichannel world, we will look at another emerging touchpoint—social commerce. If you are interested in further discussing the opportunities in omnichannel for CPGs, please reach out to Katie Dye and Katelyn Kinker.
1 Ronit Ghose et al., Metaverse and money: Decrypting the future, Citi Global Perspectives and Solutions, March 2022.
2 Janet Balis, “How brands can enter the metaverse,” Harvard Business Review, January 3, 2022; Tiger Street Food, accessed March 8, 2023.
3 Mike Bechtel and Nelson Launer, “Thinking about investing in the metaverse? Let history be your guide,” Deloitte Insights, June 21, 2022.
2023 consumer products industry outlook
Pursuit of profitable growth in challenging times
An omnichannel strategy for a changing CPG landscape
Leveraging new and old omnichannel capabilities