These trends redefined CPG budget allocation in 2019
It’s not easy staying ahead of the curve, but to help out I decided to make a list of the critical trends and technological advances that you should be looking out for in 2019.
If your grandfather owned a major Consumer Packaged Goods business in the 50s, asking for his advice in today’s CPG world would be like asking a medieval European about electricity. The CPG business has changed so much in the last decades, it hardly bears any resemblance to the industry we knew just one or two generations ago. Products on demand, direct marketing via social media, and a landscape where crowdfunding enables anyone with a good idea and some marketing skills to enter the playing field.
CPG companies continuously need to innovate and be flexible, while at the same time navigating this brave new world of product manufacturing and distribution. For executives in the industry, it can feel like every day poses a new challenge, and every other month a new technology or product disrupts the market. How can you make a 5-year plan for your company, when you can’t even predict the next 5 weeks? With such a fast-moving world, it can feel like there’s nowhere to turn for answers. If you’re reading this article you’re pretty damn smart, so I don’t feel obligated to go into too much more detail about why you should be paying attention to how CPG is on the verge of major transformation.
To make sense of the change to come, I decided to write a short overview of the most important tendencies to pay attention to, as we enter 2019. Everything on the list is already happening now, but you’ll be seeing at lot more of it in the near future. Spoiler alert: I am not going to include artificial intelligence as you have heard enough of that.
Where is the article? Click here. (Each trend is 60 words or less - who likes reading long essays anyway!).
About the author(s).
Stay current on optimizing product (re) innovation, product-market fit, and latest approaches to win in the consumer goods space.