Attendees at last week’s CGT Business Technology Leadership Conference enjoyed a first look at the newly-released 2016 Tech Trends Report. Consumer Goods Technology Magazine and Gartner produce the study annually to provide pivotal data and guidance for the consumer packaged goods (CPG) industry. This year’s study is around CPG high-level IT spending, staffing, technology and performance trends.
Survey Reveals 8 Strong Trends for CPG
Through its 2016 survey, Gartner takes a look at the current state of the CPG industry. As a result, they discovered eight trends that are likely to change the way businesses operate within the CPG industry.
First of all, this year’s report reveals a slight increase in IT spending, as a percent of revenue, to 2.1 percent. Though a small increase, it reveals much more about the state of the CPG industry.
Overall, the study shows that rapidly changing consumer behaviors are fueled by an increased use of technology and expanding shopping options. Therefore, within a slow growth environment, CPG’s are forced to hone in on growth and meeting evolving consumer demands.
The survey research also dives into digital transformation. In addition, the results include perspectives on supply chain advances including demand management, portfolio management, and the reemergence of VMI. Finally, the study visits emerging concepts like internet of things (IoT) in retail.
How to Get the 2016 Tech Trends Report
EnterWorks’ product information management (PIM) solution – including digital asset management (DAM), sales and marketing portals, and syndication engine – enables brands to differentiate customer experiences through dynamic B2B2C content and collaboration.
We understand the unique challenges CPG companies face. For example, communicating product content to customers and complying with regulations regarding sourcing, ingredients, labeling and packaging. We know that managing product content and publishing it across multiple channels is increasingly necessary for success.
That’s why leading CPG companies including HP Hood, Fender and Mary Kay rely on EnterWorks PIM and MDM solutions.