The Consumer Packaged Goods (CPG) industry is being significantly reshaped by shifting consumer preferences, technological advancements, and an increased demand for personalized experiences. According to Deloitte (2023), 68% of CPG companies are adjusting their strategies in response to these changes. To remain competitive, 62% of firms are integrating advanced data analytics solutions, as reported by…
Price elasticity of demand (PED) demonstrates the variation in consumer price demand. Businesses can inevitably gain insight into customer behavior and pricing strategies using CPG, supply chain, and data analytics. This article delves into the need for PED, its related factors, and how data analytics will benefit through better pricing decisions. What is the Price…
Retailer Segmentation in CPG In today’s rapidly evolving consumer goods landscape, traditional methods of market segmentation based solely on demographics are no longer sufficient. The complexity and diversity of consumer behavior necessitate more sophisticated approaches to achieve business success. This is where retailer segmentation in CPG analytics steps in. By leveraging advanced analytics and machine…
Summary In the ever-evolving landscape of retail and consumer goods, leveraging cutting-edge technologies like CPG Retail Analytics has become imperative. The decision to build or buy analytics services can significantly impact the efficiency and effectiveness of your data-led solutions. You are tasked with solving a specific problem; one that your company may be facing or…