Nielsen predicts transparency will be a necessity for consumer packaged goods (CPG) in 2020, as a result of low trust levels in today’s society. Trust encompasses company aspects like brand credibility and an organization’s operational footprint.
Highlights
- Brands will have to counteract consequences and misinformation that result from social network attacks to protect their credibility
- Consumers’ interest in the “behind-the-scenes” of company operations is growing, and brands should consider their “Healthy for Me and Healthy for We” expectations
- Manufacturers will see an increase in the pressures to produce locally, as consumers display an increasing desire for sustainable products
- Supply chains will see success based on the granularity and end-to-end depth of their data science, rather than through front-end pricing and promotional tactics
- 5G will become a mainstream reality and transform smart packaging with applications, while also allowing consumers to come to an informed decision about brands through data being available almost instantaneously
- Speed and convenience will drive consumer behaviors through intuitive tech-driven retail experiences, like cashier-less pop-up shops and automated warehouses
- Augmented reality (AR) technologies will allow consumers to try products at home before purchase, with 5G improving its accessibility; AR can improve in-store experiences with special promotions available through smartphones
“The true value of today’s emerging technologies has remained in the hype cycle for much of retail and CPG, but the dawn of a new decade will see a rapid acceleration in meaningful use cases,” said Jeanne Danubio, president, Nielsen Connect, North America. “From the transformative effect of 5G to the increase in frictionless commerce—all underpinned by trust and transparency—the consumer landscape will become increasingly complex. We are eager to continue providing our clients with the data to decide, thereby shaping a smarter market for our clients, in 2020 and beyond.”
