The Global Summit is the world’s leading event for over 700 executives in the consumer goods industry and the place where the agenda for the industry is shaped. In its 60th year, the Global Summit takes place in Cape Town, and brings bring together retailer and supplier CEOs, top level management, and sales and marketing management executives. The Global Summit explores issues and disruptive innovations that are eroding customer trust and ways in which businesses can guard their reputations against these. Which findings come up from the The Consumer Goods Forum? A study carried out by the Global Summit has found that approximately a third (32%) of consumer goods retail and manufacturing executives plan to evolve into ‘omni-business’ operations by 2018. The survey, which garnered responses from 400 executives in 27 countries, found that there is an increased hunger in the industry to move beyond the current single-, multi- or omni-channel retail operations into ‘omni businesses’.
A new perspective around the Innovation- This means completely a digitally integrated business, including not just sales channels, but also manufacturing, inventory, marketing, sales, payments and distribution. In addition, some 42% of respondents also said that their customers already expect a seamless sales experience across all channels, especially millennials. “This report provides further evidence of the pace of disruption that the industry is experiencing from the pervasive influence of millennial consumers, social media and omni-channel business models,” said Peter Freedman, Managing Director of The Consumer Goods Forum. An he added that: “So much so, that sometimes industry executives may struggle to keep up with their consumers. According to this report, over 75% of shoppers now say their top buying criterion is detailed and transparent product information, yet only 42% of industry executives think transparency is important. And over half of consumers rate environmental and ethical considerations as very important to their purchase decision, a proportion again underestimated by industry executives.”
Consumer Goods Forum unveils 2016 Health & Wellness survey- The Consumer Goods Forum has announced also the launch of the 2016 Health & Wellness Measurement and Reporting survey. The survey is now in its fourth year, and is seen as an influencing tool in assisting Forum members to highlight their positive actions towards empowering healthy consumers globally. ‘This year’s survey is, therefore, vital in showing the progress being made by all CGF members and to demonstrate their commitment to being part of the solution to today’s leading health and wellness challenges,’ the Consumer Goods Forum said in a statement. According to the 2015 survey, 49% of respondents have publicly communicated their product formulation policies; and 55% of respondents have implemented employee health and wellness programmes. The survey is due to be completed by September 2016.
