A recent study by Bain & Company found that consumer goods companies that have significantly increased their investments in advanced technology over the past five years have outperformed their peers in terms of share price, revenue, and profit growth. This research analyzed 80 consumer products companies and revealed that 25% of them are currently exploring AI-led innovation, design, and modeling, while 50% are implementing or testing a next-generation, data-driven perfect sales execution.
According to Rajesh Narayan, a partner at Bain & Company, the new wave of technology in consumer goods companies is aimed at delivering a competitive advantage in critical digital capabilities such as sales, marketing, and innovation. He emphasized that companies looking to succeed in this competitive landscape need to develop a digital roadmap, enhance existing technology capabilities, and modernize their core systems.
The study highlights the importance of advanced technology in the consumer goods industry and how companies that embrace AI-led innovation and data-driven strategies are more likely to thrive in the market. With technology playing a crucial role in determining the success of consumer goods companies, it is essential for businesses to invest in and adopt new digital capabilities to stay ahead of the competition.