Having a truly consumer-centric approach to data changes how consumer goods (CG) companies and retailers operate.
During this year’s Analytics Unite event, held in-person June 21-23 in Chicago, CG and retail executives came together to discuss this idea in the closing keynote presentation, “Setting the Pace for Change with a Consumer-Centric Approach to Data.” The panel, moderated by Kalindi Mehta, VP, consumer foresight and predictive analytics, The Estee Lauder Companies, discussed digital transformation journeys and how to pinpoint winning strategies and technologies.
“Through digital and through new data sets that have become available in last three to five years, we now have the ability to say it doesn’t matter to us necessarily where [consumers] buy, as long as they buy our products,” said Josh Blacksmith, senior director, global consumer relationships and engagement, Kimberly-Clark. “That’s the mindset we have to have in terms of being customer centric.”
Blacksmith said Kimberly-Clark must think about the role every channel might play. Looking at things through a consumer centric lens, CGs know consumers shop different retailers, but companies need to ask “how do we make sure they are buying us on every occasion?”
Jamie Lancaster, vice president, The Kroger Co., thinks differently. “I don’t care what product you buy, as long as you buy it from us,” he followed. Yet Lancaster noted that there’s competition even within the store, as they sell corporate brands and private labels.
“I believe, even in the competitive community, we need to work together in many ways to make it better for the customer," he noted. "We’re competitive with other retailers, but in social media for example, we partner many times and that’s important because it helps us, it helps society. The relationship with the CPGs is the same way, it’s synergistic.”