Consumer packaged goods (CPG) companies are obsessed with two things: maximizing revenue and minimizing operational expenses. The same could be true of all for-profit organizations, but the CPG industry is unique in its unrelenting pace of new product launches designed to woo or wow an audience that has grown accustomed to constant change.
However, due in part to pandemic-related workforce disruptions and supply chain challenges, new CPG product introductions declined by 16% over the past four years – and that’s a big problem for a sector that thrives on newness.
