Scenario #1: Mr. Alok and his family had an excellent hotel experience in one of the world’s largest premium hotel chain. However, when they considered the same brand hotel for their next vacation in another city they missed to see the connection and previous preferences based on last booking.

Scenario #2: Mr. Robert bought an expensive electronic appliance for his mother from one of the largest retail ecommerce platform but the delivery gets 15 day delayed and finally retailer cancelling order without notification.

Scenario #3: Mr. Jon(Sr. citizen) used his personal data for faster medicine delivery for first time on digital platform. Post which he started getting unwanted calls from various organizations with whom he never shared his mobile number. Which raises question about personal data security.

Focusing on global consumer packaged goods(CPG), retail and hospitality brands who are rigorously using technology and trying to catch up consumer buying trends and sentiments. But are they close enough? Are they using right methodologies to do it? Ultimately, is it consumer friendly?

Globally, CxOs of CPG and retail MNCs are worried with customer engagement, profit margins and competition from hyper local providers. This competition is giving shape to many new approaches and strategies to keep the global MNCs more relevant and innovative. Hence, critical parameters which are going to shape the future decisions of organizations will be

·    Analytics

·    Brands with human touch

·    Data security

·    Sustainability

Analytics

Is implementing analytics enough? Should decisions made based on analytics be validated? Are these decisions helping customers with hyper personalization?

Analytics has become de facto for every CPG and retail company ranging from startup till multibillion MNCs. Leading to unprecedented technology utilization.   

As per above graph consumer good industry is among the least digitally mature compared to peers.  

Brands with Human touch

“Gartner Marketing Research Shows 58% of Customers Believe Most Digital Experiences Don’t Impact Their Purchase Decisions”

–Courtesy Gartner

With each geography, culture, and people the organization which has understood and planned localization in fusion with hyper personalization beyond digital in approach has done exceedingly well compared to others.  

And the below graph shows how the revenue is getting impacted with hyper-localization