FMCG TAKES TECH STEPS

Tech, especially automation adoption, has become a necessary norm to survive increasingly competitive omnichannel trade

- SHUBHAM DASGUPTA

Retail behemoths are currently riding the "digital wave." The pre-pandemic start-ups, who relied on technology to reach consumers more effectively and quickly, undoubtedly paved the way for omnichannel disruption. Simply put, it's important to approach, persuade, and convert the various tech-savvy generations who make up the diverse FMCG client base. For this reason, FMCG companies are breaking down barriers by making large investments in the best and most innovative technology.

RIDING THE TECH BANDWAGON

The D2C market provides the biggest opportunity for any player to scale up their distribution game and generate sustainable profitability. According to Vrijesh Nagathan, Chief Information & Digital Technology Officer, Marico, the use of AI and analytics improves the brand’s on-ground performance and micro-market focus. Rapid adoption of AI-based models, says Pallab Roy, Partner, KPMG, could improve back-office operations and assist managers in data analyses.

“Generative AI has advanced to a stage where it can take care of basic research-related roles in consumer behavior and industry trends,” stated Rajat Wahi, Partner at Deloitte India. That however doesn’t raise an alarm for human workforce, as technological advancement creates scopes for developing new KRAs and assignments for teams. Bharat Sawnani, FMCG veteran and Founder, Elevantus Food Consultancy added, “Almost 50 percent of average company time is spent in presentations. These repetitive and mundane tasks can easily be done by AI, so that brands can have their employees focus on higher-value assignments such as upselling and expansion.”