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Consumer industries: Working harder for customers

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Consumer industries touch people's lives in a way that few other industries can match. Digital innovation is shaking up consumer industries: shifting power from brands to consumers, shifting value from traditional players to digital insurgents and putting the consumer in the driver’s seat. Consumers are making companies work harder to earn their money.

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Consumer industries: Working harder for customers

  1. 1. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. Consumer industries: Working harder for customers
  2. 2. Today’s consumers are making companies work harder to earn their money. How much is on the line? $4.9 trillion of value through 2025. That’s about 14% of the total operating profits of the industry over the same period. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
  3. 3. 4 major dynamics are driving this trend… Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
  4. 4. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. FOUR MAJOR DYNAMICS MAKING COMPANIES WORK HARDER FOR CUSTOMERS Consumers are generating enormous amounts of data through their online browsing, purchases and payments. This gives companies a valuable flow of feedback to help keep services relevant and attractive. 1 Consumer data flow and capture
  5. 5. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. FOUR MAJOR DYNAMICS MAKING COMPANIES WORK HARDER FOR CUSTOMERS Goods will evolve into services, and services into experiences, with data serving as the backbone of delivery. New revenue models will be needed as revenue becomes decoupled from output and more closely linked to outcomes. This also sets the stage for hyper-personalization across product portfolios, retail experiences and product customization. 2 The experience economy
  6. 6. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. FOUR MAJOR DYNAMICS MAKING COMPANIES WORK HARDER FOR CUSTOMERS The penetration, globalization and consolidation of e-commerce is likely to escalate and accelerate the threat to physical stores. At the same time, physical store transformations driven by digital are likely to generate additional value. 3 Omni-channel retail
  7. 7. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. FOUR MAJOR DYNAMICS MAKING COMPANIES WORK HARDER FOR CUSTOMERS Establishing connectivity and automation beyond the factory floor, plus integrating the supply chain through innovations such as control towers, shared warehousing and digital procurement will drive significant benefits. 4 Digital operating model
  8. 8. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. So how can consumer industries players continue to drive value ? Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
  9. 9. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. Invest in digital skills and capabilities. Looking beyond sales and marketing skills, companies will also need to invest more widely in the digital skills of their talent base, either through skill-building programs or by acquiring promising startups. Successful organizations must build capabilities to listen to their customers, look out for new disruptive ideas and respond to customer feedback.
  10. 10. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. Build an omni-channel presence. Omni-channel isn’t a new concept, but many retailers have yet to implement it. Numerous channels already exist — brand portals, online marketplaces, retail stores — and more, such as social media, will be created in the future.
  11. 11. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. Invest in partnerships. Partnerships will not only help provide a seamless experience for consumers as they switch between products or services, but also generate value for companies across the consumer ecosystem.
  12. 12. LEARN MORE about how consumer industries are working to attract the customer of tomorrow with our full report: Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. Consumer industries: Working harder for customers Discover how to up your digital game

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