Consumer products industry poses new challenges.

AuthorFazl-E-Haider, Syed

Byline: Syed Fazl-E-Haider

The products sold directly to consumers are called consumer goods. Anything purchased by the average consumer like fruits, vegetables, washing machine, television sets to a laptop computer from the markets is part of the consumer business industry. A staple industry represents a continuous required product used by the common man. Food and personal hygiene items are two examples considered part of a staple industry whether in manufacturing or retail sales. Today, Pakistan is confronted with new challenges and emerging issues in the highly competitive world of consumer products, which is more complex, well-connected and fast-moving than ever. Whereas, it creates enormous opportunities and even enhances risk factors. The products and services actually constitute the consumer sector. The sector may also be divided into consumer staples and consumer discretionary goods and services.

Consumer staples include food and beverage products, household supplies and any other items that are used on a regular basis due toordinary use.

The companies in the consumer products industry are aligning technology in creative and efficient ways to optimize customer engagement and influence the consumers. The country has to be braced for both the risks and opportunities involved in today's consumer products environment. What the country needs is the well-planned strategy to cope with the future challenges. For example, the key areas which need to be focused on are the improvement of organizational agility, realignment of the value chain, reframing the strategic choices, achievement of greater flexibility in supply chain, digital marketing and deployment of skilled and qualified managers in different markets.

The consumer goods sector includes companies involved with food production, packaged goods, clothing, beverages, automobiles, and electronics. It is a category of stocks and companies that relate to items purchased by individuals rather than by manufacturers and industries. The companies related to the consumer goods industry are developing new and innovative strategies. The innovation and digitization are the key growth trends in the industry. Consumer products companies utilize agile workflows to frame their approach to developing innovative ideas compared to traditional, highly structured and more time-consuming testing methods.

In Pakistan, the Unilever, along with Switzerland's Nestle SA, dominates the food market. Its local...

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