Market Snapshot
Smart Manufacturing In Food and Beverage
Q3, 2023
The food and beverage industry is undergoing a rapid transformation, shifting from traditional, labor-intensive methods to more automated and data-driven practices. This change is driven by the need for greater efficiency, precision, and sustainability in response to evolving consumer demands and market dynamics. As companies face rising production costs, stricter regulations, and increasing calls for sustainability, the adoption of smart manufacturing has become essential to streamline operations and boost overall productivity.
This report explores the transformative potential of smart manufacturing in the food and beverage sector, spotlighting key trends, challenges, and the technologies fueling this revolution. It provides actionable insights and real-world case studies, from improving forecasting accuracy to achieving significant cost reductions making it a must-read for industry leaders aiming to stay competitive and better meet consumer expectations.
FOUR KEY B2C COMMERCE IMPERATIVES
Incisiv
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As consumers continue to reshape their expectations,
enterprises must contend with a uniquely challenging landscape.
The consumer technology landscape is forever changing.
From Pinterest to TikTok, WeChat to Instagram, new experiences can rapidly gain consumer adoption and relevance.
From augmented reality to voice, smartwatches to chatbots, consumers are constantly embracing new interaction paradigms.
Commoditized convenience is eroding loyalty and margin.
Consumers expect convenience. If you can't deliver it, they'll go elsewhere - e.g. next day shipping becoming the new standard.
Walmart will reportedly lose USD 1 billion on eCommerce revenue of USD 21 billion this year as it faces challenges in its bid to complete against Amazon – from trouble integrating its DNVB acquisitions to impact on margin from its next-day delivery operations.
Consumers value experiences that are curated to fit their lives better.
They want to engage, be served, and transact at their time, their pace, their place. They have little patience, infinite choice and the freedom to swipe left at the slightest hint of friction.
