New digital technologies and resource scarcity have the potential to transform the consumer goods and retail industry over the next decade. But are companies ready?

A new report published by The Consumer Goods Forum (CGF) and Capgemini calls for the industry to implement critical initiatives to safeguard the future and drive change across the industry. “Future Value Chain 2022” outlines a call to action to address two key megatrends: the challenge of the Digital World and the ongoing Fight for Resources.

The report identifies three initiatives for collaborative action.

Consumer Engagement Protocol: This initiative is designed to address the changes being witnessed in shopper behavior by establishing guidelines for digital engagement with consumers.

Next-Generation Product Identification: In a world of rapidly expanding online commerce solutions, barcodes are unable to provide consumers with the rich digital product information they seek. This initiative explores new technologies for product identification to replace barcodes.

Sustainable Packaging Consortium: This consortium is being developed to improve the sustainability of packaging across the different value chain stages, including collaborative buying, processing and recycling (end of life).

These initiatives will only succeed with strong support from industry companies. Do you think they’re ready? Let me know what you think.