If you’re in the CPG industry, you probably already know that it is in the midst of an historical lull. Growth has been below 2 percent for the past few years, and weaknesses in the market are particularly pronounced for the major CPG manufacturers.
Historically, CPG companies have relied on several metrics to evaluate their business growth, identify competitive advantages to exploit and forecast for the future. The major CPG manufacturers spend hundreds of millions of dollars on analytics to get these answers, but most times the results don’t make a significant impact in moving the needle in terms of sales.
Why? CPG companies are using the wrong analytics. Many of the commonly accepted metrics are not effective measures. Worse yet, they can be counterproductive to companies’ growth aspirations.
TABS Analytics CEO and founder Dr. Kurt Jetta recently hosted a webinar that broke down the 10 metrics that are hurting the CPG industry, and explained how to leverage better analytics to get a more accurate picture of your business. Here’s a sneak peek at a few metrics that you’re likely using, but shouldn’t be.