We live in an age of the “digitally engaged shopper”, making digital transformation crucial to omnichannel success in the CPG industry. In fact majority of CPG leaders consider digital initiatives to be of high importance to their company’s success. With shifting customer expectations & shopping trends changing rapidly, brands are faced with the challenge of creating the best possible shopping experience both online and in store. This means that the same, comprehensive, current product information needs to be shared in an accurate and timely format across retailers, marketplaces, regulatory authorities, search, social media and other digital platforms.
The challenge is adapting traditional sales models to new online marketplaces with low costs & increased productivity. Legacy systems currently rank as the most commonly cited barrier to unlocking a truly digital CPG experience. Lack of data standards and obsolete data management systems lead to irreversible brand damage, higher costs and finally lost sales. In order to compete with the growing number of private label brands, Direct to Consumer (DTC) trends that already think and act like digital natives, companies need to integrate trusted product information management and digital asset management platforms in their digital transformation roadmap – critical components to successfully align digital shelf with brick-n-mortar sales efforts. Read the complete report to learn more about the top challenges faced by CPG manufacturers, common problem statements and reasons why you need a modernized on premise or cloud based PIM solution to overcome these challenges, retain mindshare of the digitally engaged consumer and create winning product experiences at every touch-point.