Transforming Consumer Goods: Digital Innovations and Strategic Approaches for Competitive Advantage

Raghunath Reddy Koilakonda

Abstract: The consumer goods industry is undergoing a digital transformation driven by emerging technologies like IoT, AI, and big data analytics. This impacts supply chains, manufacturing, product development, e-commerce, delivery, and customer experience. Companies leveraging personalization strategies through algorithms and customer data analysis are driving customer loyalty and sales growth. Sustainability initiatives and "Buy Now, Pay Later" policies are also influencing sales. Companies prioritizing personalized customer experiences through digital channels, fostering effective management, strong promotional activities, and user-friendly frameworks will have a competitive advantage. Automation, strategic management, quality maintenance, and agile replenishment technologies are essential for achieving smart industry and supply chain efficiency.

Keywords: Digital Transformation, Customer experience, Technology, Sales growth, Consumer goods, Personalization

How to Cite?: Raghunath Reddy Koilakonda, "Transforming Consumer Goods: Digital Innovations and Strategic Approaches for Competitive Advantage", Volume 13 Issue 6, June 2024, International Journal of Science and Research (IJSR), Pages: 1254-1255, https://www.ijsr.net/getabstract.php?paperid=SR24618105740, DOI: https://dx.doi.org/10.21275/SR24618105740