Orlando, FL—Nielsen announced its predictions for technology, consumer packaged goods (CPG) and retail for 2020 and the coming decade in a press release. Nielsen anticipates that 2020 will represent an inflection point for trust and transparency, 5G, and time to purchase in the retail and consumer landscape.
The predictions are fueled by the cloud-based Nielsen Connect platform, which helps CPG manufacturers and retailers spot emerging trends and diagnose performance gaps. John Myers, Director, North America Analytics and Insights at P&G, commented in the release: “We see Nielsen’s data and cloud-based technology as important levers that will benefit P&G U.S. as we develop breakthrough Analytics & Insights to help us better serve billions of consumers around the world.”
The predictions are:
- Privacy concerns and misinformation will threaten brand credibility. Trust is at a low point, but consumers still expect that brands know and cater to them. Both businesses and consumers will have to work to counteract misinformation.
- Transparency will be tomorrow’s brand currency. What was previously considered ‘behind-the-scenes’ information about a company’s operations will become mainstream topics of conversation, which will create opportunities for companies to grow trust and authenticity.
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- Manufacturers will produce locally to win globally. Thanks to trade wars and awareness of climate change, manufacturers will face increased pressure to produce locally, import fewer goods, and reimagine supply chains to deliver sustainable products.
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- Smart supply chains will anticipate and react to consumer demands. The industry will gradually shift to more granular, end-to-end supply chain analytics, thanks to retailers growing their private label brands.
Related: 5 Reasons to Embrace Private Label…and 5 Key Steps to Get Started
- 5G will revolutionize the Internet of Things for retail. End consumers will have access to more data with virtually no response delay, allowing them to come to an informed decision on the retailers and brands they want to work with. 5G will also transform smart packaging and delivery, using applications like sensors that can collect real-time data to ensure viable internal package conditions for food and medications.
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- Time and trust will dictate consumer relationships with retail. Pop-up cashierless shops and automated warehouses will fuse the overall consumer experience with smarter, intuitive tech.
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- Try-before-you-buy will come into consumer homes. Augmented reality-based buying will reach a critical mass, and up the ante for brick-and-mortar to keep consumers coming back with experiential benefits.
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“The true value of today’s emerging technologies has remained in the hype cycle for much of retail and CPG, but the dawn of a new decade will see a rapid acceleration in meaningful use cases,” said Jeanne Danubio, President, Nielsen Connect, North America. “From the transformative effect of 5G to the increase in frictionless commerce—all underpinned by trust and transparency—the consumer landscape will become increasingly complex. We are eager to continue providing our clients with the data to decide, thereby shaping a smarter market for our clients, in 2020 and beyond.”