Global

Details

  • Industry: Retail, Food, Drink & Consumer Goods
  • Type: Business and industry issue, Survey report
  • Date: 6/12/2013

Growth Issues 

Of the top five issues most frequently identified as a top priority for consumer executives, four are related to growth: ‘the economy and consumer demand’, ‘growth and international expansion’, ‘R&D and innovation’, and ‘consumer marketing’.

“Companies have to find the right balance between investing in short-term and longer-term growth strategies. In a difficult market, while you may have to focus harder on retaining existing and winning new consumers, you cannot afford not to invest in where future growth will come from.”


- Mark Baillache
Partner, KPMG in Hong Kong

Top four “growth” issues:


  • Economy and consumer demand - is most frequently cited as one of the top three priorities for executives (selected by 42 percent of respondents) across both the manufacturing and retail sectors and for almost all regions.
  • Growth and international expansion - as sales in current markets slow and the potential of new markets boom, consumer companies are increasingly looking at growth and international expansion as a top strategic priority.
  • R&D and innovation - meeting consumer preferences was cited as the chief driver of innovation (followed by competition), indicating the importance of R&D and innovation in maintaining or increasing competitive advantage and market share.
  • Consumer Marketing - consumer companies are focused on building their brand. After brand building, manufacturers are most focused on customer data analytics and identifying trends, and retailers are most focused on pricing and loyalty programs.

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Top mind survey 2013