The #1 mistake CPG manufacturers are about to make

The #1 mistake CPG manufacturers are about to make

As we move beyond the extraordinary circumstances of the pandemic, the Consumer Packaged Goods (CPG) industry is shifting its focus. The era of leveraging pricing strategies is giving way to an intensified emphasis on promotional activities. This significant pivot cannot be overstated.
A staggering 68% of CPG executives surveyed in Deloitte’s 2024 Consumer Product Industry Outlook report plans to escalate their advertising and marketing expenditures relative to revenue. Additionally, 64% anticipate an increase in promotional spending. Amid this pursuit to boost sales volumes and capture greater market share, numerous CPG brands are inadvertently stumbling—be it through miscalculating the return on investment for promotions or overlooking the broader impacts such activities have on their overall financial health.
However, a more substantial oversight looms large over CPG brands: the neglect of pricing strategy refinement. The insights gained over the last four years are at risk of being disregarded, leading to the erosion of their pricing capabilities.

Explore our insights and recommended strategies for capitalizing on pricing opportunities as they arise.

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Included in this document:

• The 6 steps CPG brands must take to successfully adopt a strategic pricing approach.
• Lessons CPG brands should learn from the last four years.
• Where many risk making costly mistakes, right now.
• Why losing the pricing muscle could be the most costly mistake of all.

Please contact us if you wish to further discuss this white paper’s contents and learn how XTEL can help your organisation to reframe, retool and reset holistic revenue growth management practices, capabilities, and tools for profitable growth and success.