Trend 1: The social investor. PR Newswire, âLayâs âDo Us A Flavorâ contest returns to the U.S. with $1 million grand prize for best potato chip flavor idea,â January 20, 2015. Ltd). Several trends that the company highlighted in the report have emerged in reaction to long-term IT challenges, while others address the technological needs of large firms, Deloitte … We look forward to your participation. 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. Furthermore, consumers and retailers could demand greater variety and customization in both product offerings and purchase channels. 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. Furthermore, many food and beverage companies are increasingly subject to product supply disruption due to extreme climate events. The interviews covered four topics: trends in consumer demographics, behaviors, and attitudes; retailer and channel dynamics in consumer products; the impact of technology on consumer engagement, the shopping process, and business models; and commodity supply management. 2020 Vision: Deloitte Digital’s Memorable Moments. While some differences in perspective are to be expected among these groups of executives, these differences reveal potential blind spots. 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). Trend 2: Getting partnerships and joint ventures right. This finding is of particular concern to many packaged goods companies, which traditionally target a consumer base composed primarily of lower-income and middle-class consumers. SlantShack Jerky allows consumers to âBuild-a-Jerkyâ online.22 The company initially allowed consumers to select either 100 percent grass-fed or USDA Choice beef.23 However, the company now offers only 100 percent grass-fed beef, and it includes customization options and subscription options for its products.24. Copy a customized link that shows your highlighted text. According to Deloitte, holiday retail sales this year should rise between 1% and 1.5%, amounting to between $1.147 trillion and $1.152 trillion during … This uncertainty reflects an awakening of consumer consciousness along many dimensions. Challenge to current model: Traditional commodity management strategies are increasingly insufficient to guarantee supply, harness innovation, and align with social responsibility. 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. has been removed, An Article Titled Consumer product trends . Slantshackjerky.com, âJerky of the Month Club,â http://www.slantshackjerky.com/about, accessed January 15, 2014. Increased supply disruptions and natural resource shortages, such as water shortages, may put the business economics of consumer product companies under stress. 5 Introduction. 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. A decade or more after online shopping became mainstream, e-commerce for consumer packaged goods is finally arriving. 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. Deloitte, Deloitte executive survey for insight into the consumer, conducted August 29, 2014 to September 11, 2014, n=205. The report features ten mining trends operators should be aware of in 2020. âWe canât ignore structural changes in advertising and marketing. Here are the 10 key trends for 2020 (source: Deloitte): To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. 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. Most of the consumer respondents (58 percent) were female. Through social media listening, key issues identified within transparency were genetically modified foods (49 percent of total discussions), clear labeling in general (22 percent), and greater transparency about food additives (21 percent). Respondents were screened to target consumers who did at least half of their householdâs shopping and food preparation. International Monetary Fund (IMF) food and beverage commodity indices. One way to address commodity price volatility, higher commodity costs, and resource shortage is the application of food technology. First, driving greater brand loyalty is very important to each of the three groups of executivesârevealing the ongoing tension between both consumer product brands and retailers. 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. We begin Tech Trends 2020 with a timely update on the nine macro technology forces we examined in last year’s report. Kim also serves on the Board of Directors forÂ HashedInÂ and Chairs Deloitteâs USI (DCIPL) Board. The social enterprise at work: Paradox as a path forward. 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. 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. The consumer segments that were more likely to associate natural and organic with food safety include individuals or households with allergies, families with children, and 21â29-year-olds. Ellen Byron, âMore pet brands target owners who like to cook their own dog food,â. We expect the importance of digital commerce to be amplified by the rapid pace of technological change. ... An acceleration of intelligent mining - Australian Mining, Share on FacebookShare on TwitterShare on Linked InShare by Email. We surveyed 205 executives and senior managers in consumer-facing industries to ask: âWhat are the five most important areas where you would like to know more about US consumer behaviors and attitudes?â Across all surveyed industries, brand loyalty (47 percent) topped the list, followed by consumer willingness to pay higher prices (41 percent). As enterprise needs and expectations change rapidly, prioritizing agility and hybrid business models is vital. Many consumer product companies risk being outpaced by these uncertainties because they are merely piloting projects as a proof of concept, and not rapidly moving the entire organization forward. The majority of consumers (74 percent) are paying close attention to the nutritional content of the foods they purchase and try to avoid preservatives and chemicals. Click here. In 2014 alone, there were eight weather and climate disaster events across the United States.16. The seven executives interviewed had experience in marketing, sales, operations, and/or information technology at consumer product companies. Trend 5: The path to … ... Rio Tinto breaks records at 2020 Argyle diamonds tender - Australian Mining. 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