How can digital innovation boost the sale of consumer goods

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ashraf3545
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Joined: Tue Jan 03, 2023 8:18 am

How can digital innovation boost the sale of consumer goods

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Businesses in this industry can be considered B2B2C, Business to Business to Consumer , or in free translation “business to business to consumer”. In short, they transform the raw material into the final product and direct it to B2C organizations, responsible for delivering the product to the final consumer. The sector produces: Durable goods: such as appliances and cars, with high added value; Semi-durable goods: such as clothing and decoration, with average added value; Non-durable goods: considered for immediate consumption, such as food, beverages and cleaning, with low added value.

From the brief description above you can understand why this is a key industry for the economy. However, because it works in a more traditional way, it tends to establish static processes, reducing its Email Data innovation potential, and consequently, leaving a lot of money on the table. According to research conducted by McKinsey , by investing in digital innovation the consumer goods industry can: Launch products 50% faster, cost 1/3 less and double the return on investment Increase efficiency by 25% In addition, it implies significant.

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Although achieving commercial objectives is fundamental, as we already discussed in the article 10 sales techniques to help you reach your goals , it is necessary to go further. We've already seen that companies that reject digital transformations tend to be constantly threatened by the market, and many actually become obsolete, as we've seen happen with Blockbuster and Blackberry , for example. Therefore, even if it is a challenge to create an innovation mindset , it is necessary to find ways to increase revenue, reduce costs, and create a relevant proposal, and most of the time, these paths are found from solutions that prioritize innovation.
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