Change is one of life’s certainties, so those who look only to the past and the present are likely to be caught out by the future. This is particularly true in the consumer and retail sector, which is being transformed by three revolutions at once: geographic, demographic and technological.
In 2018, ESI ThoughtLab conducted rigorous research relating to economic growth and market trends, forecasts of digital technology and e-commerce trends, supply chain trends and issues to add valuable insight to the KPMG Top of Mind Program. ESI ThoughtLab played a key role in surveying industry executives in the program about their companies’ approaches to:
Surveying was conducted by telephone and online during March 2018. A total of 530 executives from companies headquartered in 28 countries participated. The respondents are senior executives at global companies from the food, drink of consumer goods manufacturing and/or retail sections, 87 percent of which had at least $500 million in annual revenues. 31 percent of respondents said new competitors with disruptive business models are the most challenging market trend. 48 percent of manufacturers and 34 percent of retailers are struggling to adapt to industry disruption, while 58 percent of companies plan to redesign or develop new business models.