In today’s experience economy, the shifting preferences, ideals, tastes and values of consumers are putting pressure on CPG manufacturers to deliver more relevant products.
In an effort to maintain (and grow) market share, many CPG companies are generating more products and SKUs to satisfy these consumer needs. With fluctuating consumer demand, product lifecyles are only getting shorter. And products developed for consumers in one market may be insufficient for the needs of consumers in another market. Local markets want “made for them.” As a result of all of these pressures, CPG manufacturers need to manufacture more SKUs, in smaller batches, in more parts of the world, in less time.
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