The internet is changing the consumer packaged goods industry, and overall things are looking good for consumers. Back in the dark ages of consumer packaged goods, companies used advertising and consumer favor to set the prices of goods. Then big box stores came along and filled their spaces with goods and consumers, and demand drove prices. Now consumers are connected directly to manufacturers via the internet and social media, and therefore have an unprecedented say in the prices of consumer packaged goods.
Now that consumers have constant access to the internet via mobile devices, they have time to shop around while waiting for the dentist or sitting at a stoplight. Retail mobile app purchases are expected to increase over 400%. This will generate vast amounts of consumer data.
But what is to be done with all this data? Proper analysis can lead to a successful sales strategy. Check out this infographic for more about how companies can use their data to advance sales of consumer packaged goods.