Coca-Cola CEO Muhtar Kent has had much success at the helm of the iconic beverage company, but as he moves forward, he must keep up with the ever-evolving consumer.In a recent column for the BBC, Kent cites five global mega trends from a Consumer Goods Forum report on the “Future Value Chain,” and stresses how fundamentally important they are to the future of retail and consumer goods:
- Mass urbanization — Movement to cities is causing logistical issues for retailers and consumer goods companies
- An ageing population — There are opportunities here, since older consumers have more disposable income
- The rise of the global middle class — This is a massive growth opportunity, but there will also be stresses on resources
- People care about sustainability — Now, being green has become “simply smart business”
- Technology is changing expectations — It’s all about the digital shopping experience
So, what’s an exec to do?
“Over the next decade, success or failure for consumer goods companies and retailers will be measured by the speed and thoroughness with which we’re able to adapt to change at all levels – global, national, local and personal,” writes Kent in the column.
Sounds easy enough, but adaptation requires more than just awareness of trends. It’s going to be about execution too. Companies need the organizational structure, culture and leadership to stay flexible and deal with rapid change.
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