Consumers who have benefited from rising incomes, low unemployment and low inflation are enjoying their growing wealth despite uncertainty in the political and economic landscape. Household consumer confidence is elevated, therefore it is essential for the consumer products industry to adapt, innovate and differentiate themselves in order to be successful.

Capitalization on growth in emerging markets will result in consumer companies seeking opportunities for partnerships or acquisitions/merges in order to access a wider consumer market and leverage market solutions. Bolder, agile approaches to developing and testing innovative ideas will replace more traditional, structured methods.  Furthermore, companies are aligning technology in creative ways in order to optimize user engagement and influence sales funnel paths.

With issues of less demand and more competition arising for companies, growth opportunities arise from emerging markets outside the US. Attaining partnerships enable companies to achieve globalization at a lower risk, enabling them to gain deeper insights about the consumers in emerging markets they currently do not have a foothold in.

Consumer product companies have begun to view innovation as a clear source of growth, causing experimentation with new approaches to innovation, such as renovation of previous successful products, venture capital-styled incubators, and crowd sourcing. Eclipse Automation’s extensive knowledge and experience in the consumer and electronics  industries enables us to provide you with the most innovative solutions that add value and enhance business operations. From one-off fabrications to extensive production quantities, we pride ourselves on our respected reputation for producing high-quality, on-time solutions that help you get to the global market quicker.

Source: Deloitte