Major issues consumer goods industry

The consumer goods industry is very powerful as it is connected to other industries and contributes to two-thirds of the global economy. Consumer goods can be categorized into durable products like home furnishings, refrigerators, washers, computers, television, jewelry, etc, and ephemeral products like food beverage, cleaning products, cosmetics and medicines.

The consumer goods companies act in close association with other industries like advertising and retail. Consumer goods also contribute to brand building and play an important part in the GDP of a country. A digital innovation in the consumer goods industry will improve the marketing and sales areas. It will also resolve the supply chain crisis by speeding up the manufacturing and delivery processes. The consumer goods companies have faced numerous challenges with traditional working models. Supply chain distribution and inefficient vendor management, labor and truck driver shortages, changing customer shopping patterns and shift to e-commerce platforms for buying products, losing customer trust with diminished brand recognition, international trade regulations with restrictions on tariffs, import and export duty, data security issues with increasing cyber crimes, natural catastrophes that can slow down workflow of consumer goods supply chain, exceeding competitions with the entry of new brands and startups are some of the problems.

Salesforce CRM goods business

Salesforce CRM enhances the retail execution capabilities of consumer goods companies with cloud computing functions. Consumer goods salesforce CRM help the field representatives drive revenue goals and maximize ROI to improve the in-store buying experience of the end consumers. CRM optimizes the retail execution capabilities that is getting the right products to the right stores at the right time. Field representatives use real-time business insights and AI to audit the stock, pricing options and promotional operations of retail store partners and drive growth for consumer goods business. Automated workflow and customer 360 platform leverage digital transformation to make stronger customer connections and unlock new business opportunities in B2B and B2C of the consumer goods industry.

Data driven insights to meet end-consumer expectations

Big data in the consumer goods industry helps to analyze fluctuating customer demands and predict buying patterns to rethink business strategies and drive profit. Data-driven functionalities improves the overall infrastructure and offers scalable solutions to give consumers a personalized buying experience. Customer data is protected with limited exposure and privacy rules to build trust and authenticate customer accounts. Data driven goals help the consumer goods company automate stocks and market products faster. Big data help the field reps simplify the sales processes by prioritizing store visits, streamlining repetitive tasks, managing inventory and building strong customer relationships. Salesforce CRM for consumer goods improves retail execution with innovative solutions and enhanced promotions to drive revenue goals and maximize ROI.

Optimized retail execution

Field reps use data analysis from their mobiles and business insights to understand travel route, location, store visits and in-store tasks. The representatives can let go off manual spreadsheets to make a checklist of inventory, planograms, promotions and repeat orders. Automated retail execution helps the reps get the right order to the right store at the right time.

Prioritize store visits

Salesforce CRM (Customer relationship management consumer) cloud assist field reps to visit the right store at the right time. Automated platform helps to gain visibility on store location, shortest route and time taken to visit store on mobile devices. An omni channel view simplify the sales process by connecting with the right store and close deals faster.

Harnessing in store workflow

Field reps can improve in store functionalities with Einstein AI to audit stores and identify out of stock products, pricing, discounts, product category and promotions. Automated workflow help the reps build strong relationships with the store owners and managers by taking feedbacks on their mobile devices and providing dedicated service.

Cloud based solutions and external data

Real time collaboration

Real time store data analysis help the field reps save manual auditing activities and focus on building strong customer relationships. Effective collaboration with the store managers on mobile devices  drive business for the field reps with out of the box functionalities. Field reps can track assigned tasks like collecting product data and pricing details to improve efficiency in sales activities and enhance retail store partnerships. Real time mobile and video chats help to solve customer queries on pricing, warranty and entitlements to increase repeat customers.

Personalized customer support

Salesforce consumer goods cloud engage customers and prospective customers to nurture leads and enhance cross selling opportunities. Data driven functionalities improve customer journeys with customized sales and optimized brand promotions. Representatives can drive revenue with effective order management strategies and enhanced in store customer experience. Salesforce solutions mitigate data silos in the consumer goods industry to increase productivity and build customer success stories.

Seamless inventory management

Digital transformation helps in real-time inventory tracking and management in the consumer goods industry. AI and Machine learning capabilities help to understand customer demands, identify out of stock products, and replenish orders. Integrated sales and supply chain operations along with inventory and cost analysis reduce the gap between demand and supply to respond effectively to customer needs. Real-time data integration between suppliers and consumer goods store prevent disruptions and increase supply chain efficiency. Salesforce CRM optimizes retail execution for consumer goods company and accelerates in-store productivity by managing sales targets, orders, discounts pricing, and promotions for elevated customer experience and ROI.

The Covid 19 pandemic has left a lasting impact on the consumer goods companies. Panic buying and hoarding of products led to empty shelves and delayed product deliveries. Demand and supply chain gaps along with changes in consumer buying behavior became a raising concern for store owners. Digital transformation and multichannel CRM applications will reinvent the consumer goods market with intelligent practices and automated data-driven goals. To know more, watch the video