So how do you stay ahead of your competitors when it comes to expanding sales in the FMCG market?
This latest survey states that the current winners are the ones investing in the highest growth channels such as discounters, convenience and e-commerce.
But once you have established those relationships how do you maintain and develop them?
Forming collaborative relationships with your retail partners is a must, such as exclusive products or changes to packaging.
Retailers are also heavily investing in big data and analytics, so you must do also. What are consumer trends? Big data will also help with your revenue growth management and managing price changes.
Finally, it is important to make bold omni-channel investments. Invest ahead of the curve and ensure you tailor some of your product offerings to eCommerce specifically.
Our survey of more than 100 sales executives reveals best practices in customer and channel management. Most consumer-packaged-goods (CPG) manufacturers in Europe today have to maintain a tricky balance. On the one hand, they must continue to nurture long-standing but constantly evolving relationships with major retailers, which account for the bulk of their current business. On the other hand, they need to pursue new (or newly important) channels such as convenience stores and e-commerce, which have completely different characteristics and requirements but offer the most promising growth opportunities in an otherwise stagnant market.