For long, many CPG firms have had to operate with thin margins due to intense competition in the market. Leading firms have found ways to differentiate from competition through various means, including product features, pricing but most importantly customer experiences (CX).
The COVID-19 pandemic has complicated these dynamics by intensifying the pre-existing challenges while adding additional challenges such as supply chain disruptions, inflation increasing cost of doing business and fluctuating buyer demand due to opening and closing of local economies.