Every aspect of consumer life has changed, vastly impacting on the opportunities for businesses in the fast-moving consumer group industry.
Although many businesses have shown resilience and agility in managing the current crisis, a recent survey suggests they are now challenged to know what comes next:
- 79% of the business leaders responding to the recent survey believed that the COVID-19 crisis would have a lasting impact on their customers’ needs in the next five years.
- But fewer than 30% of all businesses felt that their companies were well equipped to address such changes.
- Even fewer—only 10% of all businesses—believed that they were well equipped to pursue new growth.
In the first in a series of vlogs, Will Abbott and consumer goods expert Paul Drabble, discussed the findings detailed in the recent McKinsey report and how dynamic change represents opportunities, which Paul highlights by underpinning the findings with examples of the successful businesses emerging after the 2008 financial crisis. Businesses who were dynamic and adapted to the demands of the crisis outperformed the market by 30% and Uber and AirBNB were the examples given of businesses which were created and have thrived.
With over 50 years combined experience helping businesses achieve their goals, Will and Paul have teamed up to provide support for FMCG businesses to help them through the pandemic. Together they are hosting a free-to-attend webinar and will identify opportunities for dynamic businesses looking to change, provide insights to help build resilient growth plans and financial forecasts that will be beneficial to long-term success after this crisis.
For the very latest retail, digital and food and drink insights, trends and analysis and to take away top tips on what you can do to protect your business and adapt for future success, book your tickets to attend ‘What’s ahead for the UK Consumer Goods industry – 2021 and beyond’, which takes place on Thursday 25 February at 12:30 – 1:30pm.
About Will Abbott, Partner
Will Abbott has been solving strategic problems for Gloucestershire businesses for over 25 years, improving their planning, processes and people to deliver profit, growth, value and competitive advantage. Will has won national awards for his client projects and is pleased to be working with progressive business owners who are taking the opportunities identified from Paul’s insights into the consumer goods sector.
About Paul Drabble, CBG Ltd
Paul’s career spans over 25 years; creating new business growth strategies for consumer companies worldwide. He has worked for and alongside many of today’s most recognized companies including Cadbury Schweppes, Coca-Cola, Ferrero, McDonalds, Shell, Tesco, British Airways and Exxon Mobil. Recently, Paul has helped over 150 retail, digital and food and drink SMEs grow their business – winning several industry awards along the way.