Consumer products brands are constantly looking for ways to stay ahead of the curve. With so many new innovations coming out every day, it can be hard to know where to start. We specialize in finding best practices and inspiration from leaders who are doing what you want to do so that we can transform your ideas into reality.
Mastering the Digital realm can seem like an impossible task when it comes to meeting demands set before you by this constantly evolving technology. As we offer our consulting services for businesses looking to create a more sustainable future for themselves, we don't just focus on what’s currently going on today, but think about where the industry will be tomorrow and take all measures necessary so that you're prepared. Creating seamless transitions into this new world of technology has never been easier than it is now, so let us start designing those changes right away!
Most Recent Consumer Products Statistics
➔ U.S. e-commerce sales grew by 15.8% in the first quarter of 2020
➔ U.S. retail sales fell by 8.7% in the first quarter of 2020
➔ Total U.S. retail sales (including e-commerce) fell by 5.4% in the first quarter of 2020
➔ E-commerce now accounts for 11.9% of total U.S. retail sales
Our Contribution — Services
Some of the services Assuras can provide in the Consumer Products sector include:
- Providing comprehensive range of services for product development, testing, and certification
- Offering end-to-end solution for product recalls and safety issues
- Managing product safety data and information
- Conducting risk assessments of products
- Providing guidance on product safety and regulatory compliance
- Identifying potential safety issues and Hazards
- Investigating product complaints and incidents
- Coordinating and managing product recalls
- Providing expert opinion on product safety
Current State of Industry
The Consumer Products industry is currently in a state of flux. A number of factors, including technological advancements, changing demographics, and shifting economic conditions are impacting the way consumers purchase and use products. As a result, companies are struggling to keep up with the pace of change and are looking for new ways to reach and engage consumers.
One of the biggest challenges facing the industry is the increasing fragmentation of the market. With more choices and options available to consumers, it is becoming more difficult for companies to stand out from the competition. In addition, the rise of e-commerce and online retail has made it easier for consumers to purchase products without ever having to step foot in a store. This has put pressure on companies to not only have a strong online presence, but also to offer competitive prices and shipping options.
The Consumer Products industry is also facing a number of other challenges, including the need to address sustainability concerns, the increasing popularity of private label products, and the continued consolidation of the retail landscape. despite these challenges, the industry is expected to continue to grow in the coming years.
The consumer products industry is forecast to grow at a steady pace in the coming years. Innovation and new product development will be key drivers of growth, as companies seek to differentiate their offerings in an increasingly competitive marketplace. The industry will also benefit from rising disposable incomes and favorable demographic trends, as more people enter into the prime spending years of their lives.
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