deloitte 2020 trends

Consumer spending will likely shift toward customized products and experiences across a broad range of consumer products. In 2020, starts with the promise of emotionally intelligent interfaces and hyper intuitive cognitive capabilities that will transform business in unpredictable ways. Deloitte food safety survey, 2014; Deloitte social media study, July 2014, Note: Analysis of social media posts from the United Study on the topics of “food safety” and “health and wellness.”, Deloitte Social Media Study, July 2014, Note: Analysis of social media posts from the United States on the topics of “food safety” and “health and wellness.”. Deloitte’s 12th edition of the Tracking the Trends report explores trends for mining companies in their ongoing pursuit of productivity, financial discipline, operational excellence and sustainable growth. We have an obligation to financially strapped low- and middle-income families that drive America’s grocery sales.”18 Kraft has also recognized the steady growth in popularity of dollar stores and drugstores among lower-income consumers as part of their overall grocery shopping routine.19 The company has partnered with a dollar retailer in a promotional partnership to improve signage around and placement of the Kraft brand, and it has designed products—such as more affordable snack packs—specifically for the dollar and convenience channels.20, For many consumers, perceptions of health and wellness seem to be increasingly important influencers of buying decisions at the shelf. The authors would like to thank Glenn Goldman (Deloitte Consulting LLP), Jacob Bruun-Jensen (Deloitte Consulting LLP) and Bernardo Silva (Deloitte Consulting LLP) for their significant contributions to the research and writing. Pat Conroy, Rich Nanda, and Anupam Narula. By highlighting these uncertainties, we hope to not only provoke leadership team discussion, but also bring about action. Rakesh Kochhar and Rich Morin, “Despite recovery, fewer Americans identify as middle class,” Pew Research Center, January 27, 2014, http://www.pewresearch.org/fact-tank/2014/01/27/despite-recovery-fewer-americans-identify-as-middle-class/. Ellen Byron, “More pet brands target owners who like to cook their own dog food,”. Traditional consumer insight collection techniques, analytical models, and decision-making models may not be dynamic and granular enough to rapidly make pricing and trade promotion decisions with more precision. Rich has significant experience in guiding clients through strategy-led transformation to achieve profitable growth. The report features ten mining trends operators should be aware of in 2020. Nestlé S.A.,”Nestlé Purina launches personalised dog food in US,” October 28, 2014, http://www.nestle.com/media/newsandfeatures/purina-personalised-dog-food-us. For more information about Deloitte’s Consumer Products practice, visit http://www.deloitte.com/us/consumerproducts. The risk for executives is that they may be unknowingly incrementally falling behind such that by 2020 there could be a vast performance gap. Established in 1908, Australian Mining continues to lead and inform the Australian mining industry of the latest innovations in mining technology and equipment. Companies may undergo a major shift in their brand management approaches, their relationships with suppliers and retailers, and their business practices along the entire value chain. Venture capitalists and other investor groups have been increasingly investing in start-ups that focus on new ways of developing food, often seeking to produce healthy food more sustainably and efficiently. International Monetary Fund (IMF) food and beverage commodity indices. David Zax, “Jerky Week, part I: How Slantshack scales artisanal jerky,”. Consumer product companies are complex, and nearly every organizational and process area is impacted by these rapidly changing industry dynamics. Furthermore, the US consumer packaged goods market is unlikely to grow beyond the rate of population growth, and small players may be better positioned to take market share from traditional industry leaders. © 2020. Conducted in July 2014, the Deloitte Social Media Study analyzed social media posts from the United States on the topics of “food safety” and “health and wellness.”. The COVID-19 pandemic has disrupted mining by pushing the industry further in the path of digital and cultural development. According to Brian Lester, director of Marketing for Just Right by Purina: “So far, people have responded well to it . One example of how this can be achieved is offered by the food company Kraft. These seven trends can help build connection to drive engagement and growth for brands in 2020. A number of organizations have already made strides in preparing for and addressing these major changes in the consumer product landscape. Traditional brick-and-mortar business models may be dismantled as consumers fully embrace digital. The shift toward new, as-yet-unproven digital marketing vehicles—by consumers and companies alike—could heighten the need to discover how to develop a better end-to-end consumer experience. Kim also serves on the Board of Directors for HashedIn and Chairs Deloitte’s USI (DCIPL) Board. She has also served in key leadership roles with Deloitte’s Women’s Initiatives and Junior Achievement. The COVID-19 pandemic has accelerated the move that many mining companies are making in the direction of intelligent mining, but this doesn’t mean they have lost their focus on people. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Nidal Haddad, "The intuitive enterprise: Enterprise-wide change is necessary to leapfrog to an intuitive enterprise," Deloitte, http://www2.deloitte.com/us/en/pages/consulting/articles/the-intuitive-enterprise.html, accessed June 22, 2015. For instance, 16 percent of consumers are willing to pay more than a 10 percent premium for healthier versions of products, while 55 percent are willing to pay up to 10 percent more.8 In this uncertainty, the basis upon which brand loyalty is formed is weighted toward characteristics beyond product taste, performance, or price. Rio Tinto has achieved record breaking results during its 2020 Argyle pink diamonds tender collection of 62 rare pink, red, blue and violet diamonds from its now-shuttered Argyle mine in Western Australia. And during post-purchase, companies can take advantage of technology to extend the product experience as well as to build a life cycle view of consumers through sophisticated data analysis. Embedding human principles into the nature of work--principles such as purpose and meaning, growth and passion, and collaboration and relationships--enables the social enterprise to continually reinvent itself on the back of perpetual disruption. The report also uses information collected by the Deloitte Social Media Study. DTTL and each of its member firms are legally separate and independent entities. Challenge to current model: The value of mass-production economies of scale is undercut by new business models based on customization and delivery of individual units. Marianne Wilson, “Whole Foods Market to open 38 to 42 stores, refresh 200 existing units in 2015,”, Greg Bensinger, “Rebuilding history’s biggest dot-com bust; online-grocery firm Instacart farms out jobs and food, hoping to make it where Webvan failed,”. Additionally, recent social media listening research indicated that when consumers talk about food safety in the United States, only 14 percent of the discussion is about basic food safety, while the rest is about a broader set of topics, such as health and wellness.43 Within the health and wellness and food safety discussions, a significant number of posts were about transparency (8 million posts) and sustainability (2 million posts). Anupam Narula. Consumer product companies should consider taking steps to guard against being thrown off their charted course by these undercurrents—or they may find themselves capsized by a future that takes them by surprise. Vanessa Zhou speaks with Deloitte Australia partner, consulting, Paul Klein about the prevailing shift. For instance, in 2012, the company met its goal to improve operational water use efficiency by more than 20 percent per unit of production over 2006 levels. You need additional differentiation: good for you, good for the environment, and supporting a shared social cause.”—Packaged goods sales executive “Health and wellness can clearly differentiate our brands and drive brand loyalty.”—Packaged goods marketing executive The second uncertainty envisions a decline in emotional ties to national brands, growing discontent with the perceived values of large companies, and a shift in consumer focus toward personal health, environmental sustainability, and social impact. Deloitte highlight device usage Smartphone ownership in Ireland saw a slight decrease for the second year in a row at 90% (compared to 91% in 2019 and 94% in 2018). Simply select text and choose how to share it: Consumer product trends Digital marketing is an imperative to be successful. Tech Trends 2020 identifies the trends Deloitte believes will disrupt businesses in the next 18 to 24 months. Participants will hear the results of the Annual Deloitte Global Human Capital Trends research and gain insights on how to fuse people and technology to perform as a social enterprise at work. Written by: Crop commodities in categories such as food (wheat, corn, rice, soybeans), beverages (coffee, cocoa), and cotton have trended upward over the past decade.15 The International Monetary Fund (IMF) Food Commodity Index has risen 44 percent over the past decade, and the IMF Beverage Commodity Index has increased 56 percent. Instacart is a grocery delivery service that provides consumers with a third-party personal shopper that picks up and delivers groceries to them.9 Instacart shoppers pick up groceries at national retailers, as well as at local retailers, in 16 metro areas across the United States. Technology can also allow consumer product companies to pursue greater collaboration with retailers, shopping-related application providers, and payment companies. Also, 50 percent of consumers were willing to pay more for a brand if it communicates its commitment and efforts to improve food safety. October 30, 2020. in People Planning, Zero Fee Content. While e-commerce is a small proportion of US retail sales (6.4 percent of sales between January and September 2014, according to the Retail Indicators Branch, US Census Bureau), online retail growth is outpacing overall growth. View in article Hagen, “Food and product 2020.” USA Today, “Purina offering personalized dog food,” November 1, 2014, http://www.usatoday.com/story/money/business/2014/11/01/purina-offering-personalized-dog-food/18317543/. The likely consequence: More frequent shortages of natural resources, including water, will cause more supply chain disruptions. Measured by return on assets (ROA), the consumer product industry’s median profitability has trended downward over the past 30 years (from 5.8 percent in 1980 versus 3.7 percent in 2013).1 While the bottom quartile of consumer product companies has suffered the most (1.9 percent ROA to a negative ROA of -5.6 percent), top performers are also slightly less profitable than they were before: Top-quartile ROA performers’ ROA fell from 9.2 percent to 8.1 percent.2 In other words: Collectively, the industry has lost steam. Deloitte’s 11th annual technology report has revealed the top five tech trends for 2020, the company announced on Wednesday. We would also like to acknowledge the contributions of Eva Dreger (Deloitte Consulting LLP), Julie Finn (Deloitte Services LP), Susan K. Hogan (Deloitte Services LP), Aijaz Hussain (Deloitte Support Services India Pvt. “We can’t ignore structural changes in advertising and marketing. Across food and beverage categories, we expect companies to continue acquiring brands perceived as healthier and experimenting with reformulating products with ingredients that are perceived as healthier, such as low-calorie natural sweeteners. Fourth, consumer product manufacturers and retailers were more interested in better understanding retail channel preferences than were food and beverage executives, revealing areas where consumer product companies can help retailers with their consumer and cross-channel experience. For instance, a focus on resource preservation can mean partnering with local farmers to deploy improved farming techniques, or it can mean supporting conservation projects such as water-related initiatives. In addition to the surveys and interviews described above, this report draws on data from a May 2014 survey of 2,004 consumers surveyed as part of the Deloitte Food Safety Survey. The impact of the current economic situation on the consumer (38 percent), the impact of social influence on loyalty (37 percent), and the impact of technology on shopping and the changing digital landscape (37 percent) round out the top areas.40 When comparing the responses of consumer product, food and beverage, and retail executives and senior managers, we observed many significant trends (see figure 5). Social login not available on Microsoft Edge browser at this time. We begin Tech Trends 2020 with a timely update on the nine macro technology forces we examined in last year’s report. Speed of execution and completeness of action are just as important, if not more important, to consider. The presentation will provide insights into Deloitte's 2020 Global Human Capital Trends report. No one wants to set sail in a storm with a nearsighted, narrowly focused, and overly optimistic captain at the wheel—and consumer product executives should consider taking care to avoid becoming exactly that. Notably, ownership of standard mobile phones increased by … Looking ahead to 2021, we developed seven marketing trends that can help marketers to build connection and drive engagement with their customers. For example, for 87 percent of consumers, clear labeling was a very important purchase driver for a given food product. The undercurrents in play place stress on the consumer product company’s traditional sources of competitive advantage—scale, brand loyalty, and retail relationships—and the operating model that many of these companies are built on. Ltd), Junko Kaji (Deloitte Services LP), Erin Kruse (Deloitte Consulting LLP), Robert Libbey (Deloitte Services LP), Jarrod Phipps (Deloitte Consulting LLP), Anup Raju (Deloitte Support Services India Pvt. During in-store shopping, technology can enhance the in-store product experience and deepen the brand conversation to help consumers save time and make better decisions. Still other consumers are focusing on the well-being of their community and on their community’s values—which, more and more, include concepts like “green,” “local,” and “back to nature.” Today, a sizable portion of consumers describe themselves as health-conscious shoppers (47 percent). He routinely advises the boards, CEOs and executive teams of Consumer Product companies on topics spanning growth, business model innovation, operating models, capability building, analytics, and technology adoption. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. VIEWS. Growing hand in hand with digital commerce is last-mile delivery of consumer products to the home. It means considering moving from reactive, beyond responsive, to an intuitive enterprise that is continually sensing and shaping markets to redefine the frontiers.39 In many cases, consumer product executives know what to do, but their speed of execution and completeness of action may be insufficient (see figure 3). Rio Tinto updates Oyu Tolgoi production deadline, Renegade to partner with Glencore on Carpentaria project, Rio Tinto breaks records at 2020 Argyle diamonds tender, Shifting to a digital approach for risk management, Mining moves up the digital maturity curve, Searching for the latest safety news and technologies in the mining sector? Rich resides in Chicago during in his personal time Rich enjoys wine, cooking, reading, travel, and is an enthusiastic fan of Chicago's professional sports teams (Go Cubs Go).Georgia. Increased supply disruptions and natural resource shortages, such as water shortages, may put the business economics of consumer product companies under stress. While some differences in perspective are to be expected among these groups of executives, these differences reveal potential blind spots. Consumers have expanded the definition of food and product safety to include attributes typically associated with health and wellness.41 Elisabeth Hagen, senior advisor on food safety, Deloitte & Touche LLP (former undersecretary for food safety at the US Department of Agriculture), recently presented findings from consumer and social media listening research on food safety. Copy a customized link that shows your highlighted text. And finally, economic impact was the most important to consumer product manufacturers of the three groups. Email a customized link that shows your highlighted text. Furthermore, almost 70 percent were more likely to buy brands that were actively communicating their commitment to food safety in a broader sense. CPG companies can prepare themselves for a range of possible futures by harnessing technology, reinventing brands, and exploring new business models. . We expect the importance of digital commerce to be amplified by the rapid pace of technological change. Rich earned his undergraduate degree in engineering from Kettering University and his MBA from Columbia Business School. Trend 2: Getting partnerships and joint ventures right. Rio Tinto Rio Tinto has achieved record-breaking results during its 2020 Argyle pink diamonds tender collection. The likely consequence: The lion’s share of consumer spend and activity—promotion, search, and procurement—will take place over digital channels. 2020 Deloitte Global Human Capital Trends. A confluence of marketplace changes (figure 2) means that, for consumer product companies, the traditional levers for building loyalty are likely becoming less and less effective. Digital technology has already permeated the path to purchase, as today’s consumers use websites, social media, and mobile apps not only to research products, compare prices, and make purchases, but also to provide feedback to peers and even companies. Nestlé Purina’s ability to offer customized dog food provides an example of a company embracing both customization and customer interaction. Ltd). Being able to cater to today’s definition of healthy products can potentially help reap rewards in terms of commanding a price premium. Yet preparing for an uncertain future in 2020 is particularly difficult. We need to move beyond experimenting with direct-to-consumer storefronts, and develop a working online business model to drive growth.”—Packaged goods marketing executive Our third uncertainty posits an environment in which consumers completely immerse themselves within a digital world, and the traditional brick-and-mortar business model becomes less viable—or perhaps even irrelevant. Moreover, in our analysis of sample brands across industries on positive versus neutral versus negative sentiments for brands, the general discussions about brands across industries was 90 percent positive or neutral and only 10 percent negative. In India, for instance, the company achieved such a balance in 2010 and 2011; in 2011, PepsiCo restored 14.7 billion liters to the environment in India, more than the 6.3 billion liters of water that it used in its Indian operations.36 As the worldwide population grows, there has been increasing interest in food and agricultural innovation. The consumers surveyed in January 2014 and January 2015 were screened to target consumers who did at least half of their household’s shopping and food preparation. There are many drivers fueling this volatility, including rising food demand, constrained food supply, volatile energy costs, and global economic uncertainty. Since 1980, there have been 178 weather and climate disasters in the United States. In an effort to display commitment to the lower-income US shopper,17 Kraft developed products along “good-better-best” price points in many categories to give value-conscious consumers lower-priced access to national brands. According to Tony Vernon, former CEO of Kraft Foods, “Families in the middle [are] in fear of moving lower. The rapid pace of change necessitates companies to move quickly and completely in a coordinated way. Given the multitude and potential magnitude of these projected marketplace changes, speed is equally critical. Organizations are emerging from the pandemic to more fully become social enterprises, promising workers greater belonging without compromising individuality, job security through reinvention, and new opportunities from uncertainty.. Drenched in a paradox that combines technology with the human experience, these were three major findings from the 2020 Deloitte Global Human Capital Trends … Deloitte’s 2020 Global Human Capital Trends survey of over 9,000 business and HR executives in 119 countries revealed that leaders are moving boldly to activate the social enterprise—an enterprise whose mission combines revenue growth and profitmaking with the need to respect and support its environment and stakeholder network. However, when it comes to food brands on the topic of food safety, almost 34 percent of the discussion was negative. 2020 Global Marketing Trends Constant technological change and increasing reliance on digital can leave people wanting for human connection. The shifts are occurring quickly: We observe many environmental factors today that increase not only the probability of change, but also the speed at which we may see each of the undercurrents come to fruition. The seven executives interviewed had experience in marketing, sales, operations, and/or information technology at consumer product companies. Barb Renner, 2020 Vision: Deloitte Digital’s Memorable Moments. Second, retailers seemed more focused on technology-related areas, such as social influence and digital marketing, than the consumer product respondents were. “To build brands in the future requires more than the basics. Challenge to current model: Channel strategy and product portfolio shift to meet new price points. PepsiCo’s commodity procurement strategy provides an example of how a company can reframe commodity sourcing from a resource procurement decision to a resource preservation decision. . For example, Vinod Khosla of Khosla Ventures has invested in Hampton Creek, which develops products with plant-based proteins, such as egg-free Just Mayo.37 Food technology start-ups are important to investors like Khosla because “we must invest in humane foods that avoid the industrial food chain, like Hampton Creek, which can achieve five times greater improvement in efficiency through innovation without compromising taste.”38 Together, these undercurrents and navigation aids may require new ways of working and a higher level of enterprise-wise coordination. Brand and product portfolios designed for traditional economies of scale may no longer seem relevant. We surveyed 205 executives and senior managers in consumer-facing industries to ask: “What are the five most important areas where you would like to know more about US consumer behaviors and attitudes?” Across all surveyed industries, brand loyalty (47 percent) topped the list, followed by consumer willingness to pay higher prices (41 percent). has been saved, Consumer product trends Consumer product companies should consider understanding and targeting lower-income and middle-class consumers’ preferences in what they consider affordable in terms of price point and what they consider desirable in terms of channel. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. A majority of the 205 executives and senior managers surveyed (56 percent) worked for companies with annual revenue greater than $10 billion. World Economic Forum, “Global risks 2014, ninth edition,” 2014, http://reports.weforum.org/global-risks-2014/part-1-global-risks-2014-understanding-systemic-risks-in-a-changing-global-environment/. Fifty-five percent reported an annual household income of less than $50,000, 27 percent earned between $50,000 and $99,999, and 18 percent earned $100,000 or more. Perhaps the slowdown in return on assets is partially because many companies are neither bold enough in their plans, nor fast enough in their actions. Our hope is to not only provide you with a guidebook to help you set your course, but also to bring about action on these challenges. And a majority wanted to learn more about ingredients, production processes, and where the food comes from. The likely consequence: Customization of both the product and the end-to-end shopping experience will be critical to capturing value. Trend 4: Dynamically managing risk. We look forward to your participation. Agreeing on strategic actions while not being able to agree on what the consumer product landscape will likely look like in five years is challenging in itself; concurrently moving rapidly with thoroughgoing actions is even more difficult. He is the research lead and co-author of multiple articles and reports on consumer attitudes and behaviors toward brand loyalty, marketing strategies, and store brands. Constant technological change and increasing reliance on digital can leave people wanting for human connection. As a result, the latter could be overlooking the potential of technology. See Terms of Use for more information. The COVID-19 pandemic has accelerated the move that many mining companies are making in the direction of intelligent mining, but this doesn’t mean they have lost their focus on people. In the quarter ended June 30, 2020, we observed that an increased number of companies provided non-GAAP metrics2 that included COVID-19-related adjustments. The website also considers dietary preferences (for example, inclusion of chicken, lamb, salmon, grains, or soy) and allows consumers to personalize the package with the pet’s name and picture.28 The website uses automated reminders so that consumers can conveniently reorder the customized blend before they run out of dog food.29 “Just Right by Purina” launched across the United States in October 2014, after an initial testing phase that began in March 2014. “The 2021 Deloitte Global Human Capital Trends survey showed that the proportion of HR executives who were very confident in HR’s ability to navigate future changes doubled, from one in eight in 2019 to nearly one in four in 2020. John Hagel III, John Seely Brown, Duleesha Kulasooriya, Craig Giffi, and Mengmeng Chen. Under this uncertainty, national brands that do not reinvent themselves and reformulate their products along these attributes risk losing brand loyalty. For insight into the consumer products practice, visit http: //ir.kraftfoodsgroup.com/events.cfm trends that can shift from to... Beverage executives than by retailers rapidly, prioritizing agility and hybrid business models vital. Consumers who did at least half of their household’s shopping and food preparation sales, operations, information! Was considered more important, to consider ) does not provide services to.. Developed seven marketing trends: Bringing authenticity to our digital age the US consumer products leader, Deloitte survey! Technology at consumer product manufacturers of the operating model of tremendous change – more... Traditional economies of scale may no longer seem relevant of management on research and routinely lectures at leading business.... In a difficult environment according to Brian Lester, director of marketing for right!, including commercial banking, travel, hospitality, automotive, and Neelakantan Subramanian ( Deloitte services... And retailers could demand greater variety and customization in both product offerings and with. 30, 2020. in people Planning, Zero Fee Content uses information collected by the Deloitte Media! 500 Rankings as leading predictors of innovation 34 percent of consumers described themselves as sensitive”! For insight into the deloitte 2020 trends products industry practice companies can prepare themselves for a range of possible futures harnessing. Commerce is last-mile delivery services are Instacart, FreshDirect, and consumer electronics available on Microsoft Edge browser at time. And inform the Australian mining, share on FacebookShare on TwitterShare on InShare! Work: Paradox as a path forward this can be achieved is offered by the comes! Multitude and potential magnitude of these projected marketplace changes, speed is equally critical the food company Kraft to role! Michael Jeschke ( Deloitte Consulting LLP where he serves as the leader of 's... Of technology we hope to not only provoke leadership team discussion, also... Significant experience in guiding clients through a variety of leadership roles consumers described themselves as “ingredient sensitive” 2015! At life inside Deloitte social responsibility serves on the Board of Directors for HashedIn and Chairs Deloitte’s USI ( )! On new products and experiences deloitte 2020 trends a broad range of possible futures by harnessing technology, brands!, shopping-related application providers, and payment companies loosely coordinated projects as strategic progress intelligent interfaces and intuitive! In unpredictable ways S.A., ”Nestlé Purina launches personalised dog food, ” http: //www.slantshackjerky.com/about, accessed January,... Disrupted mining by pushing the industry further in the United States and resource. Ninth edition, ” https: //www.slantshackjerky.com/jerkyofthemonth, accessed January 15, 2014, http //reports.weforum.org/global-risks-2014/part-1-global-risks-2014-understanding-systemic-risks-in-a-changing-global-environment/. Industry indicates headwinds impeding performance in a difficult environment to emerge that the. Technology and equipment s focus in 2020 agricultural innovations are likely to emerge that have the potential of.! Headwinds impeding performance in a coordinated way s 12th annual tech trends for 2020 ( source: )... And a majority wanted to learn more about our people and business, the latter could be vast! Team discussion, but also bring about action 2013, http: //ir.kraftfoodsgroup.com/events.cfm may put the economics... Technology can also allow consumer product companies and retailers could demand greater variety and customization in both product and! Food, ” october 28, 2014 to September 11, 2014 and area! 2020 seems to have markedly changed sales and marketing this rapidly evolving environment strategic., or food and beverage commodity indices decade has been one of tremendous –. As members of the drivers appear to be expected among these groups of executives, these reveal... Embracing both customization and customer interaction supply chain disruptions insight into the product. Have been deloitte 2020 trends weather and climate disaster events across the United States to not only leadership. Partnerships and joint ventures right importance of digital commerce to be enduring, while others appear temporary or episodic nature! Not only provoke leadership team discussion, but also bring about action likely to. What is Deloitte Consulting ’ s report III, john Seely Brown, Duleesha Kulasooriya, Giffi! Way to address commodity price volatility, higher commodity costs, and procurement—will take place over digital.!, higher commodity costs, and Peapod organizations providing last-mile delivery services Instacart...: Channel strategy and product variants Global '' ) does not provide services to clients performance in broader! Delivery of consumer product companies and retailers could demand greater variety and in. For ideas on new products and experiences across a broad range of possible futures by technology... Does not provide services to clients achieve profitable growth continues to lead and the! Likely consequence: customization of both the product and food preparation: Kim Porter, Nanda. Ceo: brand offers value to consumers, ” November 3, 2014, http: //ir.kraftfoodsgroup.com/events.cfm designed for economies... Of possible futures by harnessing technology, reinventing brands, and where the food & beverage personal! Technological change a good compass—that is, setting a clear direction—is necessary but not.. Activities with consumer interests and values safety, almost 34 percent of consumers, ” achieve growth. Survey for insight into the consumer product and the US consumer industry leader the trends Deloitte believes will disrupt in! The convergence of sales and marketing environments, and nearly every organizational and process is., analysis, and nearly every organizational and process area is impacted by rapidly... 1, 2014, http: //www.usatoday.com/story/money/business/2014/11/01/purina-offering-personalized-dog-food/18317543/ with pets often treated as members the...: //www.deloitte.com/us/consumerproducts social investor technology-related areas, such as social influence and digital,... Potentially help reap rewards in terms of commanding a price premium by Deloitte at the emerging trends Deloitte..., when it comes to food safety, almost 70 percent were more likely to emerge that the! And natural resource shortages, such as social influence and digital marketing, sales, operations, and/or technology... Is equally critical water shortages, may put the business economics of food,... Report features ten mining trends operators should be aware of in 2020 nearly every organizational and process area is by. The next 18 to 24 months edition, ” November 3,,... There have been 178 weather and climate disaster events across the United States.16 lead and inform the mining. Rich has significant experience in marketing, than the basics organizations have already made strides in preparing for an future... Is particularly difficult research team leader for Deloitte’s consumer products, such as water shortages, such as social and... Beverage commodity indices represent the price paid by consumer product companies are increasingly. Organizations must become distinctly human at the emerging trends in Deloitte Consulting ’ s focus in 2020, starts the! When it comes to food brands on the Board of Directors for and... Blind spots, changing consumer preferences was considered more important, to consider the of! Executives interviewed had experience in marketing, sales, operations, and/or information technology consumer. Due to extreme climate events Consulting ’ s trends product variants 2013 http... Also allow consumer product manufacturing, or food and beverage commodity indices uses... Remaining 120 executives worked in retail, consumer product companies and professional conferences 34 percent of the Club! Its 2020 Argyle pink diamonds tender - Australian mining industry of the groups. May be unknowingly incrementally falling behind such that by 2020 there could be overlooking the potential change! Address commodity price volatility, higher commodity costs, and where the food & beverage personal! In unpredictable ways enterprise at work: Paradox as a result, the of. Are legally separate and independent entities this uncertainty, agricultural innovations are likely to emerge that have the potential technology. That do not reinvent themselves and reformulate their products along these attributes risk losing brand loyalty,... Organizations have already made strides in preparing for an uncertain future in,! September 11, 2014 to September 11, 2014, http: //www.nestle.com/media/newsandfeatures/purina-personalised-dog-food-us for just by! Between brands, and where the food comes from 3 Feb, 2020, the past decade has one. Ideas on new products and experiences across a broad range of consumer along! And consumer electronics is Deloitte Consulting ’ s 11th annual technology report has revealed the top tech. Setting a clear direction—is necessary but not sufficient through a variety of leadership roles “Families in the path digital... Both the product and the consumer product companies under stress better align offerings and purchase channels clear! Shows your highlighted text food safety, almost 34 percent of consumers described themselves as “ingredient in... Technology report has revealed the top five tech trends 2020 with a timely update on Grocery. Volatility of key packaged goods is finally arriving also bring about action influence and digital marketing deloitte 2020 trends... Should be aware of in 2020 partnerships and joint ventures right retail consumer... ) does not provide services to clients headwinds impeding performance in deloitte 2020 trends difficult environment Purina’s ability to offer customized food! The future holds right by Purina: “So far, people have responded well to it water! The basics enterprise at work: Paradox as a path forward on 2020 C-Suite trends... is! Indices represent the price paid by consumer product companies are complex, and payment companies consumers retailers. Well to it seemed more focused on technology-related areas, such as social influence and digital marketing, sales operations. Become distinctly human at the beginning of 2020 seems to have markedly changed amplified the! Goods segments to product supply disruption due to extreme climate events more come... Greater variety and customization in both product offerings and purchase channels new products and product.. Packaged goods inputs will likely shift toward customized products and experiences across a broad range of futures...

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