Stibo Systems Blog

Business resiliency and optimization are key drivers in technology investments

This week was filled with energy and excitement as 35,000+ people gathered at NRF 2023: Retail’s Big Show for three days of breakthrough ideas, technologies, and insights. Compared to previous years, any remaining concerns about Covid and supply chain challenges were put on the back burner. This year, inflation took center stage at NRF, sparking many discussions about the economy and consumer spending.

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… and how does the consumer goods industry benefit from master data management?

One of the most common questions that come up in conversation at conferences or in business meetings is: “What is the difference between CPG and FMCG?” The short answer is that CPG is the acronym for consumer-packaged goods and these products encompass the most common and frequently purchased items by consumers. FMCG is a subset of CPG that is focused on the fastest moving items, i.e., fast-moving consumer goods. Below we will further detail the key industry terms and explain the importance of data and master data management for CPG companies.

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How to use better data management to reduce obstacles for innovation

The retail industry growth rate has slowed in the past year, and the economic environment has become more challenging. Retailers are changing their tactics to appeal to different consumers with increased innovation, value messaging and offerings. Having an agile and systematic way of managing data to enable innovation and precise execution is key to success.

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The French-based Eco-Score is indicative of the challenges in grocery retail who needs to calculate and communicate product lifecycles and sustainability data. It requires unified data management and a diverse skill set.

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5 key considerations to position for successful retail of the future

The future of retail looks bright – at least from the viewpoint of consumers. For retailers, some tough challenges are lining up:

1. The sustainability challenge and how to meet the purposeful shopper
2. Enhancing the omnichannel strategy to meet a diversified audience and the proliferation of apps and touchpoints
3. The monetization of customer data in a world of data privacy concerns
4. A need to develop private brands to increase earnings
5. And exploring the use of emerging technologies

If you share these concerns, we have already gathered some in-depth answers for you:

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Your data management is crucial if you want to explore the opportunities and avoid the pitfalls of omnichannel.

As data accumulates, omnichannel is transforming from a channel-centric into a truly customer-centric activity. Technologies are employed strategically or according to the revealed and expressed consumer behaviors and expectations across channels. The complexity of today’s retail spawns several drivers for developing omnichannel strategies:

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Omnichannel supports the non-linear customer journey

Retailers today are challenged to keep up with the growing expectations of consumers to have an easy, personalized, and flexible path to purchase. In the past several years, consumers have picked up new digital shopping habits and now interact digitally with what was traditionally a linear path to purchase of discovery, consideration, purchase, and review. Consumer expectations have elevated due to the upgraded digital experience in other industries. The purchase journey is not linear anymore and that is where effective omnichannel retail execution supported by data management can help.

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How to choose a Master Data Management architecture and implementation style that supports your business objectives and strategy

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3 reasons to digitally transform in CPG: Attuning to consumer demands, reducing complexity, and increasing operational efficiency

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How CPG companies can adapt to the New Normal

Manufacturers of consumer-packaged goods (CPG) are finding themselves in the midst of a historic transformation.

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