Since the announcement of the nationwide lockdown in the US due to the COVID-19 virus, the CPG industry has witnessed a dramatic shift in consumer behavior. This has led to uncertainty and losses within the industry. US CPG companies face challenges such as demand-supply inadequacies, extremely high demand for certain SKUs, a substantial decrease in demand for non-essentials, and adapting logistics strategies. Therefore, Infiniti’s industry experts analyzed CPG industries in other infected countries and developed an action plan for the US CPG industry to combat COVID-19 successfully.
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Minimizing the Business Impact of COVID-19 in the US CPG Industry: Three Key Strategies (Graphic: Business Wire)
For solutions to successfully combat the business impact of COVID-19, overcome supply chain challenges, and adapt to the new normal in the US CPG industry, request a free proposal.
“As the COVID-19 situation unfolds across the globe, it presents new operational and leadership challenges for CPG companies. As a result of the crisis, there is a seismic shift in the way consumers shop and what they shop for, creating new CPG industry challenges,” says a CPG industry expert at Infiniti Research.
The COVID-19 pandemic blindsided the world, and it has continued to take its toll as it spreads. The CPG industry is one of the most impacted industries by COVID-19 in the United States. The pandemic has influenced and changed consumer behavior drastically. There has been a sharp decline in demand for non-essential items, and a surge in stocking, and hoarding of certain essential items, which has been highly challenging for the CPG industry. This has led to a need for appropriate demand-supply management, an action plan to increase logistics flexibility, and adjustment of existing strategies to the new norm. Infiniti’s research experts analyzed the CPG industry trends in various markets and have compiled an ideal action plan for the US CPG industry to combat COVID-19. In their recent article, Infiniti’s experts discuss important lessons from other infected countries and three key strategies to combat COVID-19 in the US CPG industry.
Struggling to recover from the aftermath of the COVID-19 pandemic in the US CPG Industry? To learn how Infiniti Research can help US CPG companies efficiently combat COVID-19 and adapt to the new normal, request more information.
Infiniti’s experts discussed the following three key strategies to successfully combatting the impact of the COVID-19 pandemic in the US CPG industry:
- Defining a contingency plan to ensure supply continuity, determining the weakest links in a company’s supply chain, and developing strategies to address these issues is a priority.
- Building logistics flexibility by familiarizing oneself with COVID-19 hotspots, and revamping existing logistic and transportation plans is essential.
- Making account managers available to address and resolve pain points and bottlenecks for customers is vital for CPG companies during this crisis.
- Gain comprehensive insights into the three key strategies to combatting COVID-19 in the US CPG industry by reading the complete article here.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us.
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