Events

5 Final Thoughts From CGF Global Summit

Share this post:

via Consumer Goods Forum

Amazon, Google and Harvard University representatives provided their thoughts on disruption on the final day of the Consumer Goods Forum Global Summit. While the speakers varied in experience, these general thoughts guided their feelings toward disruption.

Measure the Consumer

Amazon’s Sunny Jain warned not to be competitor obsessed, because you fall into others’ thinking. Instead, focus on the customer, and you’ll naturally shift when they do. Also, never ask what they want. Customers can’t tell you what they want, but they can react.

Key Takeaway: First measure reactions. Then, use that data to redefine your strategy.

Session Source — Innovating on Behalf of Customers

Disrupt and Get Hopeful Patience

Another insight from Jain – if you’re releasing disruptive innovation, customers will be patient with it. He uses Amazon’s newest ventures, including Amazon Echo, as a prime example.

Key Takeaway: It’s better to get out there fast and then modify. Don’t wait until the product launch is perfect, because a launch never will be.

Session Source — Innovating on Behalf of Customers

Release Content Frequently

Google provided a strong case study for frequent content marketing. Beauty influencers typically produce nine times as many online videos as beauty brands. Upon utilizing these influencers on YouTube, Unilever saw more success.

Key Takeaway: User-generated content like influencer posts and reviews, can be a key part of your marketing approach.

Session Source — Driving growth with Tomorrow’s Consumers: The Role of Purpose-driven Brands

Speed Is Essential

Another Google insight was that 53% of users drop off if your site takes more than three seconds to load.

Key Takeaway: Whether it be website load time or speed of home delivery, the consumer is unforgiving when it comes to slow buying experiences.

Session Source — Driving growth with Tomorrow’s Consumers: The Role of Purpose-driven Brands

Marketplaces Are the Future

Harvard University’s Daniel O’Connor predicts 25% of the retail and consumer products space will operate within 25-50 large platforms such as Amazon, Walmart, or Rakuten.

Key Takeaway: Consider the path to build your own platform or join an existing one.

Session Source — The Next Age of Retail


Visit IBM Retail to see more news, insights and solutions around retail and consumer products.

This is the fourth of IBM Consumer’s articles inspired by the Consumer Goods Forum Global Summit. Follow us at @IBMindustries or search hashtag at #IBMconsumer for more insights.

Full session information can be viewed through the Consumer Goods Forum.

Content Director

More Events stories

Key takeaways for retailers from IBM’s Global C-suite Study

If you asked an executive a few years ago to name the source of disruption in her industry, she’d likely point to a digitally-savvy newcomer. But in 2018, that’s no longer the case. “As innovative incumbents have become smarter about competing in a disruptive digital age, executives now say they represent more of a competitive […]

Continue reading

Combining Internal and External Data for Insights, Forecasting and Visualisation

Retailers and consumer products companies have done a lot of work to apply data science to key challenges around demand forecasting, store replenishment, and optimisation of product assortment. Many have used historical sales and product data to identify patterns and glean insights. Some have used proprietary software products. Others have created data lakes and performed […]

Continue reading

How to Bridge the Supply Chain Innovation Gap

Retail and consumer products companies continue to innovate in the area of customer engagement. It’s clear they believe if they don’t do this they’ll be left behind, or possibly even disrupted out of business altogether. At the same time, we continue to see significant investment in operations, including robotics and automation in distribution centres. But […]

Continue reading