Today global experience company Rightpoint, a Genpact company has released a new eBook that looks at two significant opportunities for growth for CPG brands. The CPG Evolution: Rise of the DTC Challengers and Small Business Marketplaces, describes how CPG brands can win new customers and expand their market share in the U.S. and abroad.
Shoppers all over the world want access to a greater variety of food and beverage products. As a result, CPG companies need to experiment with new brands and products in order to grow market share and revenue. But there are challenges in meeting that demand. Brands can meet that demand and grow their business as long as they’re willing to innovate the customer experience using digital channels.
Highlights from the eBook include:
- Direct-to-Consumer Drives Growth within U.S. Within the United States, brands can establish a direct-to-consumer (DTC) channel that leverages the market-tested strategies deployed by a rising crop of DTC brands in the sector. These brands have transformed the experience of buying fast-moving consumer products (FMCP products), seizing on the consumer’s quest for new products.
- DTC channels enable brands to experiment with product development. Creating premium and healthier versions of an existing product line in order to attract new customers — without detracting from existing, top-selling products or competing with your existing channel partners. Experience transformation is critical to a successful DTC channel.
- B2b (Business to small business) Drives Growth Overseas. For many brands, increasing market share across the globe is stymied by “last mile delivery.” By creating a user-centric B2b marketplace, food and beverage brands can sell to net-new small business owners in markets throughout the world.
- Experience transformation is a process that allows you to evolve with the customer. This could be establishing an initial vision for the future, gaining stakeholder alignment, or partnering to figure out exactly how to bring strategies to life.
The CPG Evolution: Rise of the DTC Challengers and Small Business Marketplaces offers insights into this and more, including strategies for success.