The consumer goods and retail playbook for navigating disruption while driving innovation

The pandemic exacerbated challenges for the consumer packaged goods (CPG) and retail industries. Customer trust, supply chain resilience, and product and service innovation form the success mantra for CPG and retail companies. Today’s CPG and retail leaders must adopt digitalization to merely survive. Beyond survival, they must take a balanced approach to their people, processes, sustainability initiatives, and technology—including the latest developments with generative AI—to thrive. Leaders in this space are engaging in an ecosystem play to find new business models and generate profits with a purpose.

HFS partnered with Genpact to survey more than 600 business and technology leaders at CPG and retail firms across the globe to understand where they hedge their bets and explore how they respond to macro and industry-specific trends. The study includes two sets of data. We surveyed 302 CPG and retail leaders in 2022 and another 303 CPG and retail leaders in 2023 to update the data with the impact of macroeconomic shifts in 2023. Through our findings, we’ve created a playbook to help CPG and retail companies thrive despite ongoing disruption and emerge stronger.

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