The fast-moving consumer goods (FMCG) sector is undergoing continuous change, and technology is having a big impact on how items are created, advertised, and sold.
The top 10 technology trends that are anticipated to influence the FMCG sector in 2023 are as follows:
Using machine learning and artificial intelligence (AI) AI and machine learning will be used to evaluate customer data and forecast demand for specific items, enabling businesses to better manage their supply chains and manufacturing processes. Chatbots that are powered by AI can also be used to converse with customers and make tailored recommendations.
Network of Things (IoT)
With the help of the IoT, FMCG companies will be able to track and monitor their products throughout the supply chain to make sure they are delivered at the appropriate time and place. By anticipating equipment failure and locating production-process bottlenecks, it will also assist businesses in reducing waste and increasing efficiency.
The provenance of FMCG products may be tracked using blockchain technology, guaranteeing that they are obtained ethically and sustainably. Additionally, it can be applied to ensure product authenticity and stop fraud.
Virtual Reality (VR) and Augmented Reality (AR) (VR)
In order to give customers the opportunity to experience things virtually before making a purchase, FMCG companies will be able to develop immersive and interactive marketing campaigns using AR and VR.
FMCG companies will be able to produce personalized goods on demand thanks to 3D printing, which will eliminate the need for mass production and inventory control.
Automation and Robotics
The FMCG business will embrace robotics and automation to boost productivity and streamline production processes. Additionally, it will allow businesses to lower labor expenses and boost production.
Technology will be used by FMCG companies to individually customize products and marketing messages to clients depending on their tastes and behaviors.
As the popularity of online shopping rises, FMCG companies will need to make investments in e-commerce platforms and digital marketing plans to reach clients there.
Social media channels will continue to be utilized to interact with customers, promote FMCG brands, and even conduct direct product sales. Social media will also be used by businesses to obtain customer insights and feedback.
Wearables: Wearable technologies, including smartwatches and fitness trackers, will be used to gather information on consumer behavior and preferences, which can help FMCG companies with product development and marketing plans.
Overall, technology will have a significant impact on how the FMCG business develops in the future. FMCG companies may increase productivity, lower expenses, and boost consumer satisfaction by implementing these trends.