How CPG companies can sustain profitable growth in the next normal

After safeguarding their employees and businesses from COVID-19, consumer companies must develop new strategies to find micropockets of growth amid changing consumer preferences and market dynamics

 
The arrival of the COVID-19 pandemic suddenly and completely reshaped the consumer landscape at the start of 2020. At the same time consumer packaged goods (CPG) companies were looking to break out of a decade of inconsistent growth, many saw their expectations of growth replaced by a struggle for survival, while others had to ramp up production to meet never-before-seen spikes in consumer demand. Channels have also been shaken up: for example, e-commerce and omnichannel grocers have benefited greatly to date, while restaurants and food-service companies are facing the specter of bankruptcies and a major overhaul. All companies must now confront the prospect of navigating the worst economic downturn since the Great Depression.

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Πηγή: mckinsey