Knowing what to expect from the digital transformation of the consumer food product company is essential. More often than not, information related to the same is avoided, which is why it is necessary to be prepared for all markets.
FREMONT, CA: A survey reports that the majority of the companies that have undergone digital transformation investments, in the form of marketing and trade spend have not leveraged from the move, resulting in losses.
It has been a common opinion among the executives that digital transformation in the consumer food product companies can enhance the profitable growth of the company, especially in this digital world.
With the digital and physical routes converging at a quick pace, the market is continually growing with the companies which are self-proclaimed to be “digitalized” and “most advanced.” The consumer product e-commerce is estimated to grow into double the size it is at present. Statistics predict that the industry will account to a per annum worth of $440 billion by 2023.
By going digital, many mature and established companies with stable revenue via traditional channels can achieve significant growth in the future. But many companies have projected low returns on their investments after pursuing the growth opportunity via the digital methods. Another report suggests 60 percent of executives are dissatisfied with the progress and that the digital means of advertising has neglected to deliver a positive return on investment.
Reports of up to five percent increase in the first year of full-fledged digital transformation have also been recorded. The results of each company vary depending on the penetration intensity of the subject-matter. Discrepancies in the results obtained from the application for those companies are bound to occur. With hacks like robust key-account handling, management of the e-categories with advanced tools, and regularly making an effort in upping the digital quotient, several changes in the trends can be noticed. Hacks and pointers are available from all sources to assist deep implementation. Consultancies and service providers to tackle specific problems also can bring in some attention towards the products.
In an age where everything is digital, advertising, and campaigning for the brand via virtual means will always result to be fruitful. Even if no profits are counted, the brands will get recognition, and positive awareness about the products is multiplied.