2024 CPG Industry Insights Report: Boosting Profitable Growth in a Volatile Marketplace

In today’s tumultuous trading landscape, consumer goods companies are contending with soaring inflation, the threat of a looming recession, supply chain disruptions, and increased sustainability standards. Alongside these external factors, consumer behavior is unpredictable and ever-changing – with pinched purse strings and heightened climate consciousness impacting their brand and product choices. A growing number of shoppers are making the switch to private label brands; forcing CPG companies to up their game when it comes to product transparency and the battle to regain consumer confidence.

With such a difficult and uncertain road ahead for CPG brands, the Centric Software specialists have identified five key challenges facing the consumer goods industry – along with effective solutions to tackle them:

• Tackle rising costs and anticipate impact on margins
• Adapt to shifting consumer behavior
• Build resilient strategies for supply chain disruption
• Be prepared for increased sustainability standards
• Win back consumer confidence amid private label competition

And finally, how to achieve all this with the help of next-generation digital solutions!