The Factors that Have Set the Us Cpg Industry

Published: 2021-09-13 12:30:09
essay essay

Category: Marketing, Strategy

Type of paper: Essay

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The consumer Packaged Goods industry in the US region is one of the largest and most successful industries. The industry sales from $635.8b billion in 2015 are forecasted to $721.8 billion in 2020. There has been remarkable expansion of the market economies and global consumption. It has experienced significant growth in shareholder returns and consumer attitudes. An approximate of $398 billion was spent by US consumers on CPG in 2014. CPG companies are effacing several challenges like economic and political uncertainty, fast changing needs, cost pressure and so on. However, the factors that have set the US CPG industry apart are:

Using sophisticated analytical tools for setting prices, like product assortment/mix impact, market structure, war-gaming and rules based pricing
Collecting data from retailers
Analyzing shopper attributes
Generating more granular shopper insights
The key performance indicators include: Essay due? We'll write it for you! Any subject Min. 3-hour delivery Pay if satisfied
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Volume – expressed in kg, ton, pounds or statistical units
Net Sales
Operational profit – Net sales – cost of goods sold – operating expenses – depreciation
Sellout – your customer’s sales.

This indirect indicator dictates the possible sales to particular customers. The technological advancements in this industry are commendable, as they promote self-directed machines, comparable to high tech robots. Smart- vision technology has reduced quality losses by 10-20%. It is a blend of software and hardware, which enables machines in detecting their own performance. These machines have reduced costs in shop floors and warehouses significantly.
According to me, other nations can learn from US in the field of CPG. I feel that identification of pockets of growth is very crucial to this industry. India should align resources for the growth of this industry so as to gain competitive advantage over the US. Power partnerships are of utmost importance. The industry should seek a data driven growth and revenue growth management, by fully understanding the needs and demands of the market. The career landscape of this industry is very wide and lucrative.
The requisite skill set that recruiters look for in the candidates for this industry include:

Storytelling – A spokesperson or translator is needed to synthesize data into getting more insights.
Curiosity- An inquisitive mind is a charmer at work in research.
Rational- practical thinking and evaluation of various functions is necessary for smooth operations. A rational person will assess problems and try to find balanced solutions.
Thinking out of the box- Any employee that has a unique ability to think creatively is a valuable resource sto any organization.

The top employers in this industry include Nestle, Pepsico, Proctor and Gamble, Harry’s Inc., Unilever N.V., Coca Cola Co., Nike, L’Oreal, Walker&Co. etc. There is a lot of scope for expansion of this industry as it meets recurring demands of the public. It can meet the employment demands as well since it is an expanding industry and can cater to the career opportunities of people.

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