The future of the consumer industry has been saved
Perspectives
The future of the consumer industry
Buying into better™
The consumer industry is on the precipice of dramatic change that over the next decade will impact the markets, models, and mechanics of consumer industry companies in significant ways. With all this uncertainty, one thing is clear: The strategies that led you to where you are now likely won’t get you to where you need to go next.
Adapting to—and creating—change
Change is a staple of humanity, and nowhere is the velocity of change more evident than in the consumer industry, which has seen decades of dramatic transformation. But what this chronicle of change may obscure is that a broad set of forces now place the industry on the verge of an even more momentous paradigm shift. Simply put, the industry faces a once-in-a-century economic, social, and technological transition.
To add complexity, this is happening against a backdrop of significant challenges, such as accelerated climate change, growing economic inequality, declining trust, increasing polarization, and worsening global financial conditions. Not only do companies need to navigate this once-in-a-century transition, but they must do it with an eye toward addressing critical issues for society and the planet more broadly.
The forces driving transition have implications for consumer companies across all three primary business dimensions: markets, models, and mechanics.
Today’s empowered consumers are using their dollars to effect the change they want to see in the world. At the same time, facing monumental transitions, companies are choosing to extend their mission beyond shareholder value to encompass broader ecological and societal issues. Together, they’re buying into better.
At Deloitte, we believe that the future isn’t something to be predicted, but instead created. Forward-thinking organizations should act with agency and take on bold decisions concerning markets, models, and mechanics to be a valued brand of tomorrow. Ultimately, we will all need to buy into better.
Buying into better: The future of the consumer industry
Six forces shaping the future of the consumer industry
Through a series of conversations held over 18 months with more than 800 consumer industry executives, analysts, academia, and luminaries, along with input captured and monitored monthly in Deloitte’s Global State of the Consumer Tracker, Deloitte has identified six forces that will play a fundamental role in shaping the future of the consumer industry over the next decade. These trends don’t exist in a vacuum; the collective movement and acceleration of these forces will create a new competitive landscape where opportunities will emerge and innovation will drive the industry forward.
Download our full report to learn more about these six forces.
Listen to Deloitte leaders and industry luminaries share their perspectives.
Listen to Kasey discuss the six forces affecting markets, models, and mechanics on the Jason & Scot Show.
6 Forces to Navigate the Changing Retail Industry
Soup-to-Nuts Podcast: How will the CPG space change in the next 10 years?
The agency to create a better tomorrow
At Deloitte, we believe the future isn’t something to be predicted but instead created. The future isn’t preordained but is constructed choice by choice. We have the influence, agency, and power to choose where we are going and to shape the future for the better. What future do we want—and more importantly, what future do we have the courage to forge?
Recognizing, monitoring, and assessing the six forces and using that information for effective scenario planning against an ever-changing landscape will be critical for consumer industry leaders to navigate. The future will require companies to understand the implications and will compel continued examination of markets, models, and mechanics as they chart their paths to buying into better.
Get in touch
Want to take a deeper dive into our research or discuss the role you can play in the future of the consumer industry? Get in touch with our team.
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