Consumer Products, Goods and Durables
At Allen Austin, we have a long history of partnering with leading businesses from the consumer-packaged goods and durable sector to fulfill their executive search and leadership development and advisory needs and help them achieve sustainable growth.
Consumer-packaged goods and durables…….it’s a constantly evolving and dynamic sector in today’s world and the world today is radically different from the world of two years ago…. or even two months ago. Record inflation, supply chain issues, labor shortages, global conflicts, climate change, politics and beyond – each in isolation is challenging; combined, overwhelming. And it’s affecting day-to-day consumer decisions in unavoidable ways. 72% of consumers say external factors such as inflation, social movements and climate change are impacting their lives more than in the past. 60% of consumers say their priorities keep changing as a result of everything going on in the world. And consumer prices, an important aspect of our daily lives, are skyrocketing at their highest rate in 40 years and global unrest and political instability indicate long-term consequences for world markets.
Currently, we’re seeing a significant shift towards e-commerce, with more and more people embracing online shopping. The convenience of browsing and purchasing products from the comfort of your own home has become increasingly popular. Additionally, sustainability and ethical practices are gaining traction. Consumers are becoming more conscious of their impact on the environment and are actively seeking products and brands that align with their values. This has led to an increased demand for eco-friendly and socially responsible products. The increasing influence of technology from path to purchase has proven to be truly disruptive for the consumer packaged goods and durables industry. In the US alone, e-commerce represents a $395 billion market, an estimated 12% of total retail sales. As consumers continue to embrace digital, the traditional brick-and-mortar business models may be dismantled, requiring manufacturers to explore and exploit new channels to reach customers and capture their fair share of this rapidly growing e-commerce sector. From personalized shopping experiences to the rise of augmented reality for virtual try-ons, retailers are leveraging technology to enhance customer engagement and streamline operations. Lastly, the pandemic has undoubtedly had a significant impact on the industry. Safety measures, such as contactless payments and curbside pick-up options, have become the norm. Retailers are also adapting to changing consumer behaviors and preferences by focusing on hygiene protocols and implementing innovative delivery methods.
The evolution of customers’ needs and preferences, combined with technological advancements and explosive growth demands fundamental changes in the operational and administrative practices of businesses operating in the consumer-packaged goods and durables sector.
As a leading firm providing executive search and leadership development services to businesses operating across a wide range of industries, Allen Austin has helped and enabled businesses to plan and act amid these uncertainties and emerging trends. We help companies understand the impact of demographic and economic shifts in consumption patterns and demand and assist them to recruit and retain executives who have the insight and experience to find innovative ways to help a business navigate through the complexities and build a successful brand.
From succession planning and executive search, recruitment, and retention, we offer insightful advice on a broad spectrum of issues to manufacturers and suppliers of packaged goods and durables.