Industry

Consumer Packaged Goods (CPG)

Building brand resilience in the face of new world order

In today’s technology-driven economy, the pandemic has fundamentally altered the Consumer Packaged Goods (CPG) industry by pushing the already changing consumer demands and brand preferences. In addition, the impact it brought to product dynamics and supply chains has made conventional point-of-sale locations, like physical stores, irrelevant. To stay relevant, CPG must ace its game at winning the digital shelf while offering a personalized customer experience across every customer touchpoint.

The disruptive change brought by this pandemic has set the stage for an accelerated digital transformation. For CPG companies to build brand resilience and thrive in this new world, investing in artificial intelligence (AI) and a data-driven strategy is pivotal.

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Digital capabilities reshaping
the CPG industry

Solution accelerators

Challenges

Acquiring new customers is more expensive and time-consuming than retaining the existing ones. Therefore, identifying customers who are at risk to leave is important.

Solution

  • Text mining/feature engineering: Collect all the information of users including communications, clicks, and transactions to identify the most impactful features
  • Modeling: Building the model to predict the probability of churn and time to churn, to take proactive actions to reduce churn

Benefits

  • Optimized resource allocation
  • Optimized offerings/variables for better customer experience
  • Timely actions/offerings for customer satisfaction and long-term engagement
  • Improved customer retention
  • Lower market spends
  • Higher customer satisfaction

Challenges

Struggling to gather information about product or service-related issues faced by customers makes organizations unable to respond to customer needs.

Solution

  • Use of AI, NLP, and ML to analyze customers’ feedback on social media
  • Automate self and cross-company customer feedback analysis from social media
  • Web scraping, NLP processing, ML classification, and sentiment scoring engine utilized to come up with insights
  • A flask-based visualization technique to render the visualizations on a web interface

Benefits

  • Identify correlations among customer sentiments vis-a-vis churn statistics and degree of negative sentiments affecting customer acquisition and retention
  • Create ad campaign strategy by looking for common industrial pain points and position your brand as a better alternative

Our partners

Virtusa brings the entire partner ecosystem and expertise to provide the client with solutions and accelerators to speed up their digital transformation journey.

Success stories

Our Approach

Our analysis and experiences reveal a set of shared aspirations from artificial intelligence (AI) perspectives. Virtusa has used these learnings to create a three-pillared approach to streamline the AI journey. Our focus is on enabling businesses to reach operational excellence, drive business innovation, and deliver value to end customers.

  • Unifying customer experience both online and offline stores
  • Conversational commerce is increasing revenue by opening new channels of interaction and optimizing the cost element through chatbots and self-serve bots
  • Self-serve through kiosks, in-store, theme parks, airports, and many other places have become the order of the day due to digital evolution.
  • Direct to consumers brands: personalization is a crucial factor to drive this segment of business where the brands want to reach the consumers directly
  • Loyalty 3.0: engaging transactions and personalization of points is a new platform for brands to engage with end-consumers
  • AI/ML: Machine learning algorithms to provide consumer insights
  • Applying lean processes and increased supply chain collaboration through digital tools to optimize the processes. 
  • Autonomous planning, digital procurement, and industry 4.0 disrupt the traditional ERP-driven processes. 
  • RPA based platforms enable a digital workforce to help to optimize the operational workload and reduce redundant work
  • The need for new business models for retail outlets are driving the companies to start innovation hubs and start-ups to adapt to a new world of uberization and amazonization
  • Blockchain: Smart contracts, loyalty, food traceability are the real-time uses cases in leading retail chains
  • IoT sensors to collect data on merchandise, consumers digital moments enable a seamless experience
  • Concealed radio-frequency identification (RFID) codes are printed either directly on to packaging or integrated with it.
  • RFID technology sends identifying signals to a reading device, enabling automatic, contactless communication with the package so retailers can determine the current status of their goods in a matter of seconds.

Find out what Virtusa can do for you

Speak to an expert, request an assessment, demo our solutions.

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