Consumer buying behavior has changed forever as the result of the pandemic, and retailers and CPG companies need to make smart investments in technology now to fuel post-pandemic recovery, say ISG experts appearing at the upcoming ISG TechXchange: Retail/CPG event hosted by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.
The two-day virtual event, February 23–24, will cover the latest trends in consumer supply chains, customer behavior, workforce agility and online versus physical retail outlets, while exploring innovative technology solutions for campaign management, store operations, e-commerce and supply change management.
Bjorn Bengtsson, chief product and supply chain officer of men’s apparel company UNTUCKit, and author and entrepreneur Steven van Belleghem will deliver keynote addresses on reinventing the consumer relationship. Leaders with True Value, Florida Crystals, Mars, Inc., HCL, Cognizant and Wipro will join ISG experts to cover topics ranging from scaling agile culture and practices, to hybrid work cultures and the convergence of IoT, data, AI, cloud, and business transformation.
”As economic growth returns, retailers and CPG companies must keep pace with how buying behavior has changed for good, including the fact that the pandemic accelerated e-commerce penetration by three to five years,” said Mike Witty, director, ISG Consumer Services and host of ISG TechXchange: Retail/CPG. “Businesses should develop a strategy for the second half of 2021 that will build resilience, competitive advantage, and modernized compliance into an operating model ready to address these trends.”
The pandemic has made automation more widely accepted by consumers and retail workers, Witty said, and retailers and consumer companies should design IT architectures to accommodate a contactless experience. The IT systems that support the retail and CPG market should also be able to capture, share and respond to insights from customer data, partner with merchandising and marketing to support AI-powered price and promotion capabilities, and enable real-time inventory visibility along the supply chain.
“Pressure on e-commerce operations will ease as consumers start returning to stores,” said John Westfield, partner and practice leader, ISG Consumer Services. “IT will be part of the strategy to define the customer experience and enable innovation, while also maintaining adequate safety, security and sustainability. Retailers and consumer goods brands must focus their business and technology investments on the supply chain, demand forecasting, optimized inventory management and AI/ML for data-driven decisions to stand out from the crowd in the post-pandemic future.”
ISG events include keynote addresses, panel discussions and fireside chats, and an ISG Startup Challenge featuring entrepreneurs pitching their new business ideas, with winners chosen by audience vote. Attendees can network in online chat rooms and in one-on-one meetings.
The ISG TechXchange Retail/CPG is sponsored by Cognizant, Wipro, Workday and HCL. RetailWire is a media partner. For more information, visit the event website.
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.