Advanced technology is proving to be a game-changer for consumer goods companies, according to a recent study from Bain & Company. The research found that companies that significantly increased their technology investments over the past five years outperformed their peers in terms of share price, revenue, and profit growth.
The study, which analyzed 80 consumer products companies, also revealed that 25% of consumer goods companies are currently exploring AI-led innovation, design, and modeling. Additionally, 50% are implementing or testing next-generation, data-driven perfect sales execution strategies.
Rajesh Narayan, a partner in Bain & Company’s consumer products and enterprise technology practices, emphasized the importance of this new wave of technology in delivering a competitive advantage in areas such as sales, marketing, and innovation. He stressed the need for leading companies to develop a digital roadmap, enhance existing technology capabilities, and modernize their core systems to thrive in the competitive landscape.
