Many US consumer product companies continue to face intense competition, slow growth, rising costs, a shift in power to the retailer, a growth of private label brands and waning pricing power. This sector is highly dependent on consumers to drive sales and is price sensitive to such economic issues as rising commodity prices, interest rates, unemployment, energy costs, a weakening dollar and consumer confidence levels.
To remain competitive, consumer product companies need to ensure that they are attuned to shifting consumer demographics, the increasing influence of digital media on brand information and value decisions, discerning purchase behavior, and the importance of corporate social responsibility, while focusing on driving topline growth and protecting margins.
Retail is a consumer driven industry and the recent changes in marketplace forces have created a challenging environment. Changes in consumer trends have accelerated quickly, creating a greater urgency for retailers to address new marketplace realities. Retail growth and the ability to maintain profit margins will be challenging as a result of high operating expenses, market saturation, an aging population, the rise of multichannel buying, less affluent buyers, the rise of digital media to influence purchase decisions, and diminished consumer loyalty.
To remain competitive, retailers must remain extremely focused on operations, mitigate risks throughout the entire organization, and tirelessly reduce operating costs.
BPM's Consumer Products and Retail group is committed to providing you with financial strategies to increase your efficiency and help you compete in a dynamic market. With our deep industry experience, we focus on your business's short and long-term goals. Our professionals have many years' experience working with both consumer products and retail clients and are capable of providing audit, tax, and consulting services that will ultimately keep your customers satisfied.
Your objectives are extremely important to us - contact a member of BPM's Consumer Products group.
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