CPG companies are increasingly harnessing growing volumes of consumer data through online marketing and direct-to-consumer sales platforms. These companies can enhance their trade promotion activities through artificial intelligence and machine learning, but they must collaborate with retailers to do so. Together, the two can better identify ineffective promotions, forecast more accurately and optimize promotions to generate an optimal sales fit.
Consumer Goods industry is still adapting to the new rules of the game that are being set by Amazon and other e-commerce players. CPG companies' online channel is rapidly growing with 43% of CPG’s revenue growth already being driven by ecommerce and online sales expected to double in next five years.
Antuit's Senior Vice President of Global Business Development, Steve Gordon talks about using Artificial Intelligence to drive shopper frequency, basket size, and incremental consumer behaviors.
Retail supply chains have grown more and more complex, and companies must have end-to-end supply chain visibility to prepare for unexpected changes in demand. As such, retailers should explore practical, relevant ways to predict demand, while continuing to deliver quality, omni-channel consumer experiences.
In 1956, considerable fluctuations in production, inventories and profit baffled managers in General Electric’s household appliance division. Despite supervisory efforts, the variations endured. Traditionally, managers blamed these types of fluctuations on external causes, like business cycles.