The Consumer is Dead

The Consumer is Dead. Long Live People. Consumer goods companies seeking to build today's best-in-class capabilities will have fallen behind by the time the future arrives. At the heart of this change is the human being. The human condition continues to change at an ever-increasing pace, a trend that has accelerated post-pandemic.

This trend originates from the report:

Accenture - A New Dawn for CPG 2023

In this fast-paced and rapidly changing world, CPG companies are struggling to keep up with consumer expectations, which are being redefined by technology and cultural forces. The consumer goods industry is at a critical juncture, with new brands launching every week and the human condition evolving at an unprecedented pace. The pandemic has only accelerated these trends, with people prioritizing their health and wellbeing, embracing virtual experiences, and looking to learn new skills and find new sources of Income.

To succeed in this new landscape, consumer goods companies must put real people at the center of their thinking and embrace the potential of technology. This will require a shift away from traditional business models and an openness to new and innovative approaches. For example, retailers such as Walmart, Kroger, and Tesco are monetizing shopper insights to create new services and increase profits.

At the same time, the high cost of selling through digital channels and the complexity of managing brands across multiple platforms is forcing consumer goods companies to spend more to sell the same products. However, by embracing these challenges and focusing on the needs of real people, CPGs have the opportunity to redefine the industry and create a more holistic, sustainable, and equitable future..