Brand owners of Fast Moving Consumer Goods (FMCG) often face the challenges of not having a direct relationship with consumers. Being highly dependent on retailers also limits their adoption of new technologies. On top of that, their supply chain complexity further creates opportunities for counterfeiting, grey market transactions and price erosion to happen.
In the new era of 2020 and beyond, building consumer engagement, understanding market trends and gaining the trust of consumers is essential. Once a business is able to achieve that, they would be able to secure a much-needed advantage for success in the rapidly evolving future.
Pingback: Shocking Statistics of Counterfeit Products from Around the World