In recent years, the market landscape for consumer products has witnessed a major overhaul with unprecedented changes in consumers’ buying behavior and consumption patterns. Today’s consumers are motivated by convenience, sustainability, health & wellness, safety, and trust. What does it mean for consumer product companies? Re-imagining business models and go-to-market strategies, transforming supply chains and strengthening brand loyalty through a purposeful, personalized, customer-centric, and sustainable experience.
It is critical to adopt sustainability holistically across the board - be it sourcing, R&D, production or packaging. This will go a long way in building a solid brand image and creating value throughout the ecosystem. Additionally, as brands endeavor to maintain momentum and engagement in an increasingly isolated world, companies should evaluate how they can utilize D2C and metaverse - the next digital revolution - to provide an omni-channel presence and a sense of community to its customers.
Transitioning through these new dynamics across the workplace and the customer base, wherein multiple generations co-exist will be complex. Therefore, the situation calls for adaptive leaders, teams and organizations to drive change to stay relevant in the long run while managing ambiguity in the near future.
The Egon Zehnder Consumer Products Practice is composed of former executives of some of the world’s leading consumer products companies. We work closely with you to develop a personal understanding of the challenges you face. We help boards, CEOs, and talent management leaders both recruit and develop leaders who can create cultures of innovation and strategic risk-taking. Working with our colleagues around the globe in digital, sustainability, supply chain, and other practices, we can help you tap into a broad range of perspectives and talent pools to build truly creative teams. We look forward to partnering with you to turn challenge into opportunity.