To prepare for the future, it’s time to invest across all three Horizons—get more aggressive with sustainability, plug the gaps in digital commerce, and transition to autonomous supply chains.
The pandemic exacerbated challenges for the consumer packaged goods (CPG) and retail industries. Customer trust, supply chain resilience, and product and service innovation form the success mantra for CPG and retail companies. Today’s CPG and retail leaders must adopt digitalization to merely survive. Beyond survival, they must take a balanced approach to their people, processes, sustainability initiatives, and technology—including the latest developments with generative AI—to thrive. Leaders in this space are engaging in an ecosystem play to find new business models and generate profits with a purpose.
HFS partnered with Genpact to survey more than 600 business and technology leaders at CPG and retail firms across the globe to understand where they hedge their bets and explore how they respond to macro and industry-specific trends. The study includes two sets of data. We surveyed 302 CPG and retail leaders in 2022 and another 303 CPG and retail leaders in 2023 to update the data with the impact of macroeconomic shifts in 2023. Through our findings, we’ve created a playbook to help CPG and retail companies thrive despite ongoing disruption and emerge stronger.
Retail and consumer packaged goods companies that invest across the three Horizons of innovation (digital modernization, unmatched customer experience, and new business models) are best positioned to lead in the future; however, only 6% of executives say their firms are doing so.
Horizon 1: Digital optimization is a baseline for survival
Horizon 2: The experience mindset is the next frontier in enterprise organization
Horizon 3: The power of ecosystem collaboration drives innovation and growth
HFS in partnership with Genpact surveyed more than 600 business and technology leaders at CPG and retail firms across the globe to understand where they hedge their bets and explore how they respond to macro and industry-specific trends. Through our findings, we’ve created a playbook to help CPG and retail companies thrive despite the ongoing disruption and emerge stronger.
Saurabh Gupta,
President, Research & Advisory Services
Saurabh Gupta is President, Research and Advisory Services at HFS. He sets the strategic research focus and agenda for HFS Research, understanding and predicting the needs of the industry and ensuring that HFS maintains its position as the strongest impact thought leader for business operations and services research. Learn more about Saurabh.
Melissa O’Brien,
Executive Research Leader
Melissa O’Brien is an Executive Research Leader and Head of Research Operations at HFS Research. Melissa leads HFS’ research initiatives for all things customer experience, including contact center, digital marketing and sales, CX design and conversational AI. Her industry research focuses on key services dynamics within retail, CPG, travel and hospitality firms. Learn more about Melissa.
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