2025年消费品报告：在人工智能时代重拾相关性

With inflation no longer clouding the agenda, CPGsmust meet the moment. Authors and acknowledgments This report was authored by Richard Webster and Charlotte Apps. Richard is head of Bain & Company’sglobal Consumer Products practice and a Bain partner based in London (richard.webster@bain.com).Charlotte is practice executive vice president for the Consumer Products practice and is based in Toronto The report reflects the contributions of Bain’s Consumer Products leadership team, with particular thanksto the following partners: Audrey Hadida, Guy Brusselmans, Martin Toner, Kyle Weza, Nader Elkhweet,Bahige El-Rayes, Rajesh Narayan, David Waller, Logan Stevens, David Zehner, Nikhil Ojha, Ravi Swarup, Contents At a Glance2The 2024 growth scorecard3Top CPGs are under pressure7An opportunity for reinvention10 Consumer Products Report 2025: Reclaiming Relevance in the Gen AI Era At a Glance Global sales of consumer products grew more slowly in 2024 as unsustainable price increases Amid a steep drop in shareholder returns, CPGs urgently need to regain lost ground and CPGs can do this by rethinking their growth algorithm, reinventing themselves to achievecontinuous productivity gains, and redefining an AI-led and technology-driven model For consumer packaged goods companies, 2025 is shaping up to be a year of strategic clarity. To the CPGsthat take bold action, it offers renewed hope of reinvention. These conclusions from Bain & Company’s second annualConsumer Products Reportmight seemcounterintuitive. After all, executive teams began the year facing considerable uncertainty. Geopoliticalinstability threatens to undermine supply chains and increase regulatory complexity. Consumer behavior That isn’t the whole picture, though. Crucially, performance distortions created by rampant inflation havenow largely cleared. The growth challenges emerging in even sharper definition are substantial. That’sundeniable. But the continued pressure on both sales and profit can no longer be seen as a potential blip. This heightened clarity is one reason why the stage is set for CPGs to rewrite their growth playbooks andreclaim their relevance with consumers. The rising importance of technology—including generative AI—offers them more cause for cautious optimism. Leading CPGs have the scale needed to pull off the big At Bain, we believe that growth is still very achievable for both incumbents and insurgents in the consumerproducts sector. A CPG that turbocharges the portfolio it has today while transforming itself for tomorrow The 2024 growth scorecard A year ago, we highlighted how CPGs needed to reset their growth agenda, having become too reliant onprice increases. That dependence eased a little in 2024 as inflationary distortions abated. However, amidongoing weakness in consumer confidence, the task of restoring profitable, volume-led growth remained Amid ongoing weakness in consumer confidence, the task ofrestoring profitable, volume-led growth remained very much Globally, retail sales value for the consumer products industry—spanning food, beverages, and householdand personal care products—is estimated to have risen 7.5% year over year to $7.5 trillion in 2024, downfrom 9.3% growth in 2023 and 9.8% growth in 2022(see Figure 1). About three-quarters of 2024’s sales The slowdown in sales growth in 2024 was felt across categories, although it was more pronounced infood and nonalcoholic beverages, which were lapping very high price increases in 2023. In developed markets, sales growth for consumer products dropped from 7.7% in 2023 to 4.5% in 2024, withdisappointingly flat volumes despite more moderate price rises. The weaker growth reflected the cumulative Consumer Products Report 2025: Reclaiming Relevance in the Gen AI Era impact of many months of high inflation: Prices in the US and the European Union in late 2024 were morethan 20% higher than in the first quarter of 2020. When Bain surveyed US and European consumers in October, Facing baked-in inflation, US consumers focused their spending on products they felt offered the best valuefor money, whether that be from lower-cost private label or more highly differentiated premium segments, Emerging markets continued to be the biggest growth engine for consumer products(see Figure 3). Theyposted an 11% year-over-year increase in retail sales value—broadly in line with recent years and morethan twice the rate of developed market growth in 2024. The 3% volume growth recorded in emerging The double-digit emerging market sales growth was achieved despite slower-than-expected growth inthe key markets of China and India. In China, frail consumer confidence combined with extreme pricecompetition in online channels to create persistent deflationary pressure that tempered continued volume Consumer Products Report 2025: Reclaiming Relevance in the Gen AI Era Consumer Products Report 2025: Reclaiming Relevance in the Gen AI Era Figure 4:Competition for shoppers has