Five Essential Benefits of Product Information Management
Digital commerce is changing the game for the consumer packaged goods industry. Rising customer expectations are forcing the brands to be accessible to every consumer via both physical and digital platforms in personalized ways. And with increasing payment flexibility and the availability of same-day delivery, more consumers are purchasing grocery and daily-use products online than ever before: According to BCG , e-commerce now accounts for 40% of the growth in CPG retail sales. Furthermore, the Food Marketing Institute estimates that consumers could be buying $100 billion in online groceries annually by 2022 . The CPG industry needs to build a deeper level of interaction with end-consumers through personalized offerings and improved omnichannel experiences. For this, it needs to create a full-blown digital marketplace ecosystem that leverages mobile, social, web and other touchpoints. But one of the significant challenges for many companies is managing a growing heap of p