The retail sector is experiencing an unprecedented tsunami of change that is disrupting the industry in ways yet to be realized. In today’s competitive environment, new technology and rapidly evolving shopper behavior are driving dramatic changes. The old ways of doing business are no longer working, and consumer goods companies and retailers are facing a new set of challenges.
A closer look at shopper behavior tells a story of how Millennials have come of age in a time where technology, access and information are always at the ready—and as a result, expectations of the consumer experience are rising. With Millennials standing as the largest generation in our population, retail and CPG industries are challenged to both understand and quickly adapt to a new business model requiring changes all along the supply chain from raw materials procurement to delivery to the shelf.