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 marketing and promotional effort


How AI is The Key to CPG Growth Amidst Channel Blurring

#artificialintelligence

Consumers today enjoy new levels of shopping convenience, brought to them by the rise of click and collect, home delivery and subscription models. Channel blurring, or consumers moving purchases of a product to alternative channels, has had a noticeable effect on where consumers shop, what products manufacturers and retailers sell, and how they sell them. According to IRI, online sales of consumer packaged goods rose 35.4% in 2018, with more than half of purchases coming from pure-play online retailers. Thus, in order to remain successful, CPG companies must be able to quickly and accurately identify opportunities for growth beyond traditional store formats. Technology powered by artificial intelligence can better understand where consumers are shopping, as well as their purchase preferences and habits, in order to optimize a CPG's approach to marketing and promotions.