Accelerating Consumer Goods: Top 3 Digital Trends for 2021
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Digital adoption among consumers has skyrocketed in the past ten years. As a result, industries across the board have been putting more and more effort into their own digital transformations. And the consumer goods sector is no exception. However, while many consumer goods providers have excelled and delivered highly innovative customer experiences, the shift to digital has moved slower or proven more complex than expected for many companies.
But that all changed when COVID-19 hit. Research from McKinsey shows that e-commerce channel penetration advanced in the first three months of 2020 by the same amount it had in the previous ten years. It is clear companies can no longer plod their way towards digital adoption. They need to be fully digital-capable now.
That said, the complexities of digital adoption have perhaps only increased for the consumer goods industry. From changes in consumer behavior to shifts in their spending habits, the consumer journey is being reshaped and re-imaged by technology in a world that stays at home. Meaning it will be crucial for consumer goods brands to double down on digital in the years to come.
With 2021 signaling a new start and hopefully a period of global recovery, these are the top three digital trends which will shape the future of consumer goods and services:
- Dramatic shifts in consumer behavior will lead to new business models and direct-to-consumer offerings
- True omnichannel customer experiences will become the standard
- Using data and technology to drive next-level personalization and meet customer expectations
Download this longread to find out how consumer goods brands can thrive in 2021.