The pace of change in the FMCG sector is increasing and shows no sign of slowing. Some of the main reasons contributing to this change include:
- The millennial effect
- The Digital age
- Growth of smaller brands and local competitors
- 'Better for you' alternatives
- Rise of e-commerce retailers
- Rise of discounters
- Increased pressure for profit
- Disruption of M&As
In order to succeed in 2020 and beyond, FMCG services organisations need to devise clear strategies, partner with innovative disruptors or change their business practices based on lessons from other industries.
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