As more people focus on limiting their purchases to essential goods, profitability for most consumer goods companies is diminished. At the same time, however, many companies have smartly used this period of disruption to make necessary changes and adopt technologies that will improve their work or production.
The consumer goods sector has like many other industries taken a hit in which it is facing the effects of both the pandemic as well as an unfavourable economic climate.
Adding to this is a low-skilled workforce and forever increasing petrol prices which have a domino effect on several, if not all sectors, including retailers and wholesalers.
At the same time, however, many companies have smartly used this period of disruption to make necessary changes and adopt technologies that will improve their work or production. An article by Deloitte states that more than one in three consumer goods companies are upgrading their enterprise technology by investing in Robotics Process Automation (RPA) and AI, and they believe that use of these technologies will increase investments in data privacy and cybersecurity. The introduction of technologies has the potential to boost the sector and redirect it in a better direction. As more companies make adjustments, upskilling their staff with digital skills, introducing strategies and initiatives that pivot on emerging tech, they will be better poised to understand what their consumers need and when they need it, unlocking value for themselves and the
Our Thinking
Navigating the currents of change
- In our POV 'Navigating the Currents of Change: Trends and Challenges in the Consumer Goods Industry,' we explore transformative trends like digitalization and sustainability, offering insights into e-commerce, evolving consumer behaviours, and regulatory dynamics. Discover strategies for adaptation and success in this rapidly changing industry landscape.
Elevating the consumer experience
- Ongoing global uncertainties are disrupting industries, affecting areas like vaccine distribution, financial support, and digital skills. The consumer goods sector faces rising costs and changing consumer demands. To meet these challenges and embrace digital transformation, businesses must optimise supply chains, streamline processes, and offer personalised experiences.
Digitally transform with love
- The shared objective of digital transformation in mining is to improve processes that increase value through innovative end-user experiences that bring about efficiencies that can improve safety and productivity in mining companies. The advent of the fourth industrial revolution has presented an opportunity for the mining industry, amongst other business imperatives, to improve its cost-effectiveness and future competitiveness. African mining companies manage unique complexities whilst operating in the context of ever-increasing global pressures. They face challenges of profitability, volatile commodity prices, tough regulations, and unstable political environments. These challenges, which often result in high operational costs, have had a negative impact on the mines’ profitability and financial sustainability in recent years. Amidst this era of disruption, emerging technologies offer enormous potential in solving some of the business challenges that the African mining sector faces. Despite the enormous potential that digital technologies offer, the rate of adoption across the mining sector has been slow.
Our Experience
Nestlé Open Innovation - Hatcher
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The Nestlé Hatcher serves as an ecosystem that connects Nestlé's core business with the wider innovation community in the East and Southern Africa Region. This collaboration aims to address business challenges through locally developed innovations. Our engagement showcased several key capabilities: Firstly, we organised and facilitated Design Thinking workshops to define specific business problems and generate creative solutions. Secondly, our team managed the entire Hatcher program, overseeing tasks such as sourcing solution providers, executing social media campaigns, and hosting informative webinars. Lastly, we played a crucial role in pilot management, ensuring seamless alignment between Nestlé and startup partners throughout the pre-pilot and pilot phases of various projects.
Nestlé Digital Champions
- COOi Studios played a pivotal role in developing the capabilities of their chosen digital champions. Their focus encompassed multiple facets of skill enhancement. Firstly, they equipped these champions with a comprehensive understanding of emerging technologies like Artificial Intelligence, Virtual Reality, Augmented Reality, Internet of Things, and 3D Printing, enabling them to identify relevant use cases within the consumer goods sector. Additionally, COOi Studios fostered the champions' ability to articulate precise problem statements tailored to their specific departments or divisions. Lastly, they instilled a high-level grasp of Design Thinking techniques, fostering a creative and innovative approach to solving business challenges. In sum, COOi Studios demonstrated expertise in enhancing digital capabilities and driving innovation in the consumer goods industry.
Ab- Inbev Tech Immersion
- Ab InBev Africa Zone Solution’s team visited COOi Studios, for a Design Sprint dubbed as Springboard. The aim of the visit was for COOi Studios to educate the Ab InBev team about emerging technologies by providing an immersive experience that demonstrates the latest innovative technologies following the development of the Ab InBev Solutions team’s new strategy. The following learning outcomes were achieved from the event:
- To learn more about the various emerging technologies in the market
- Through the immersive research we were able to develop a day in the life perspective of the user
- Form high level concepts of changes that can be implemented to improve the life of an operator