Consumer Products
The Consumer Products industry is in a state of flux, as consumers increasingly embrace health, beauty, convenience, sustainability, and premium products. Established consumer packaged goods (CPG) brands are fighting to stay relevant, retain their share of wallet and maintain their competitiveness.
Transform your Consumer Packaged Goods business using Enterprise AI.
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The Consumer Products industry is changing faster than ever before in history. AI helps companies better connect with the empowered consumer, optimize their range of products in order to deliver to customers when and where they want them, all while improving operational efficiencies. AI empowers you by leveraging your own data about your customers to better understand how their needs have evolved and how your organization can adapt to a rapidly changing marketplace.
Consumer Engagement
- Achieve marketing ROI across digital and traditional channels
- Improve customer satisfaction using surveys and reviews data to gauge sentiment for the entire customer base
- Predict time to next purchase order based upon prior purchase history and customer segmentation
- Anticipate next customer CRM state (e.g. activation, regular, high value, decliner, dormant, churn) to inform the strategy of future marketing comms
- Hyper-personalize and identify the most effective products to present to each individual customer based on historical data
Product Assortment and Supply
- Predict sales of product innovation and new product launches before they reach the market through AI-based forecasting
- Minimize over-production and out-of-stock scenarios using a range of historic data sources “reverse supply chain” by predicting the probability of return for every item purchased across multiple channels
- Improve on-shelf availability by each individual SKU and store and drive corrective action before an issue arises
- Use Price Optimization and elasticity to identify optimal price points influenced by multiple factors such as item, brand, category, and more
Operational Efficiencies
- Predict staffing levels for customer service and distribution centers as demand changes
- Identify and negotiate with the most cost-effective manufacturing and delivery partners
- Improve employee retention with AI-based HR analytics
- Enhance predictions of delivery times for improved operational efficiencies
- Identify metrics for mutually beneficial partnerships across the supply chain that are individualized to each retail banner and geography
AI Use Cases in Consumer Packaged Goods
AI-driven CPG companies are seizing every opportunity to use data to analyze changes in customer behavior and shopping habits to ensure the right product assortment, promotions, and for direct to consumer (DTC) personalized communications are executed. At the same time, CPG companies are transforming from traditional forecasting methods to become AI Demand Forecasting driven to ensure the highest level of accuracy so the product is always available when the customer expects to purchase.
DataRobot Helps You:
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