Consumer Products

Consumer products companies are looking to maximize profits and market share in an interconnected, competitive environment. Challenges for these organizations include meeting the changing demands of customers, maneuvering through a consolidating market, and executing strategies to grow profitably.​ There are a number of factors that are out of a company’s control including fluctuating interest rates, oil prices and the overall shifting economic environment. Having said that, there are issues consumer products companies can and should be addressing to ensure a more profitable year ahead.

These companies continue to adjust their strategies to keep pace with competitive pressures. Ever-changing consumer attitudes have forced many companies to shift their priorities with respect to product assortment and distribution. There is no shortage of merchandise to buy or places at which to buy it. The internet is the big equalizer with respect to pricing and fashion. The bar is lowered due to ease of entry, however, costs to compete continue rising unabated. Traditional retailers struggle to rethink store numbers and footprint size in an attempt to better navigate the headwinds. In addition, too many consumer products companies are missing a big opportunity to truly connect with customers in a meaningful way. Even best-in-class companies are focused on new ways to drive demand and profit. The strategy has to evolve from business as usual to one of creating the need to buy rather than catering to the need to buy consumers.