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Consumer Industries in the New Era
Today’s consumers no longer simply want to buy products. They want to be inspired and educated by brands that share their values. They expect a convenient experience that makes their lives easier and helps them achieve personal outcomes. And they expect seamless engagements where the technology is invisible, trustworthy, and secure.
The days of growing by simply getting great products on a store’s shelves at a fair price are behind us. Now, consumer products companies must redefine their processes, revenue models, and the way people work. Powered by insight, brand leaders will build sustainable relationships with consumers by moving beyond transactions to delivering valuable experiences and outcomes. It is a dramatic change driven by slowing growth among incumbents, fast growth from more agile and innovative challengers, and a growing realization that the current business model is at risk. In the past, consumer products companies with well-known brands could grow by taking advantage of their scale to increase market share. This is no longer the case.