Covid-19 has made people realise the importance of hygiene and a healthy lifestyle. With increasing stress on hygiene, the sale of packaged goods has undergone a steep rise. Proper packaging ensures that the goods remain untouched and safe from the virus. The Fourth Industrial Revolution is on the verge, with AI at its core. Let us see how AI can help the CPG industry.
Providing end-to-end solutions is the speciality of AI. Human observation is time-consuming and error-prone. A group of people cannot be entrusted to look after the wants and needs of a large customer base.
AI can help in understanding the browsing and surfing data of customers. Such observations help in Demand Forecasting and the entire Supply Chain process. A high-quality first-party consumer data can reveal significant insights. The popularity of various products among the users can be very well gauged. Suitable plans can be formulated to provide solutions that are flawless.
Every company relies on advertisements to increase its reach. Advertisement could be in any form and on any media. You may publish your advertisement in various mediums viz. newspapers, magazines or on banners.
Digital advertisements via blogs, websites, videos, etc. are also common. With multiple options available, evaluating the benefits of each medium becomes important. Thus, if your users are more active on social media, you should focus more on Social Media Marketing. Thus, the need for diving into the analytics obtained from different marketing campaigns. AI does all this stuff for you so that you can focus only on what is worth your while.
Time, as always, is fleeting. But people have become busier like never before. Work from Home has instilled a desire to spend more time with family. The work hours have entangled, and the routine 9 to 5 lifestyle has modulated.
It is time to serve the customers in a brand-new way, isn’t it? AI can help with targeted advertisements for each unique customer. The potential products that a customer may want, presently or in future, are displayed to him. AI models have the power of drawing customer attention to the exact things he is looking for. Such Personalized Recommendations create a strong brand value and make customers feel special.
The price of your product can make or break the deal. It is not just you; your competitors also are a part of the market. They too have their own market share.
To protect your market share you must adopt the perfect pricing strategy. One that considers the pricing of your competitors still helps you maximize profits. AI can sift through different websites – to deliver crisp news about your competitors. It can also help you with accounting aspects like budgetary and monetary analysis, P&L etc.
Machines manufacture loads of finished goods. An AI system can monitor the quality of packaging. They can check for manufacturing or packaging defects.
Data has become the most easily attainable commodity. Big Data is booming. Every website is equipped with cookies, cache and what not! There are petabytes of data available at your fingertips.
The list of benefits that AI can bring to the CPG industry is endless. To enable your business outshine others, choose Babel for your Digitalization journey!