Following on from an opening day that set the scene in terms of how retailers and CPG brands are seeking to ‘grow through new retail’, the second day of the Consumer Goods Forum Global Summit saw sector heavyweights take to the stage to examine where the industry goes next.
The day opened with L’Oréal’s Jean-Paul Agon quoting Dostoyevsky – “beauty will save the world” – as he examined how the cosmetics and beauty industries are evolving in an increasingly digitised world.
Agon was joined on stage by the president of L’Oréal’s consumer products division, Alexis Perakis-Verlat, who observed that consumers “crave education and information” when it comes to beauty – particularly at the point of sale.
“Beauty is one of the most desired category in the shopping journey. Consumers look forward to shopping beauty above anything else.” Alexis Perakis-Valat, L’Oréal President of the Consumer Division #CGFSummit @CGF_The_Forum pic.twitter.com/Nln4qqwrHq
— L'Oréal Group (@Loreal) June 14, 2019
Digital Trends
Digital themes were also evident in the presentation by Rodney McMullen of Kroger, who explored the group’s evolution from “grocer to growth company”, as it sought to develop a seamless consumer experience.
One of the frankest discussions of the day was with Mark Scnheider, the CEO of Nestlé, who acknowledged that the industry needs to do more to address sustainability issues, and stick to its commitments.
“There’s no silver bullet,” he explained. “It’s about consistently trying hard, over time.” Click here for more from his presentation.
Delegates deep diving into the importance of "Business As a Force for Good" - @Nestle CEO Mark Schneider on the stage of #CGFSummit #ValueChain #ResponsibleBusiness #HealthWellness @CGF_Health pic.twitter.com/XxLXcuAjbg
— Consumer Goods Forum (@CGF_The_Forum) June 13, 2019
Customer Journey
The afternoon presentation saw an insightful presentation from Frans Muller, the CEO of Ahold Delhaize, who examined how the retailer is seeking to “augment the customer journey” through technology and the online experience.
“In the past, trust was built on our relationship with our customers. […] In the future, it will be a question of how well customers trust us to handle their data,” he explained.
“Retail is a people’s business supported by a lot of tech”- Frans Muller from @AholdDelhaize reflecting upon the #FutureOfWork and how #Tech is transforming work and creating new opportunities and convenience for customers #CGFSummit pic.twitter.com/pLtYs80pVe
— Consumer Goods Forum (@CGF_The_Forum) June 13, 2019
Plastic Concerns
Elsewhere, Galen Weston Jr of Canadian retail giant Loblaws examined one of the hottest topics in retail and FMCG at present, that of plastic waste, in a presentation that featured the sobering statistic that “humans are now consuming 50,000 to 100,000 particles of plastic every year”, or the equivalent of a credit card’s worth every week.
“Those in this room are a big part of the problem, but we are also part of the solution,” he said. “We design the products, we design the packaging, and we make the choice on how to sell them to consumers.”
The day closed with a fascinating presentation from Futerra’s Solitaire Townsend on the emergence of Generation Z consumers, or ‘Generation Honest’, which “hold sincerity as sacred”.
Our new research with @CGF_The_Forum reveals the uncompromising expectations from Gen Z on product transparency for social, health, environmental, and safety issues. For more information visit https://t.co/WtJisKGfan #HonestGeneration #CGFSummit pic.twitter.com/BZQWo1BQrA
— futerra (@futerra) June 13, 2019
The evening saw the hosting of the L’Oréal Gala Dinner, always one of the highlights of the Summit, and an opportunity for delegates to let their hair down after two days of insightful debate.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
