Explore actions taken by several Consumer Products companies during the hard times that resulted in strong results during and after the past two recovery periods as well as growth strategies to prepare for the upturn.
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Consumer Products
Challenges faced by the U.S. Consumer Products (CP) industry would be difficult to overstate. In addition to the long-existing pressures of intense competition, minimum pricing power and subdued market growth prospects, the industry now is facing a decline in consumer spending and the public’s growing unease with certain operating practices and product offerings.
With the prospect of growth (and profitability) far more difficult to achieve in the near term, there will be a greater need for consumer products companies to operate more efficiently, with further emphasis placed on cost reduction and expense management processes. Innovation and knowing how, where, and when to engage consumers with the right products will likely be key attributes for success in the decade ahead.
