Fast-Moving Consumer Goods (FMCG) players are using artificial intelligence across the value chain to offer consumers personalised tailor-made products.
FMCG makers are also leveraging AI in digital advertising and their product offerings based on consumer demands.
Next stage
‘”We do see AI as a platform to essentially take us to the next stage of the market. The company has 50-odd brands in a well-merited country’s household. We have expertise in hair solutions and skincare and we have a front line of making integrated digital beauty experiences simple and accessible for all. We offer the world’s first AI-powered hairstyling assistant which can help consumers choose one of our best solutions for their hair type,” said Rohit Jawa, Managing Director & Chief Executive Officer, Hindustan Unilever Limited (HUL) at the Indian Society Of Advertisers conference.
With AI tools, FMCG makers are identifying consumer trends and launching them in their product offerings. Furthermore, companies are using data history and technology to under the change in consumer consumption behaviour patterns.
“We developed an AI-powered data science engine that tailors P&G product offerings to local consumer preferences, helping stores optimise inventory while ensuring customers have access to their preferred products nearby,” said Kumar Venkatasubramanian, CEO, Procter & Gamble, India.
Advertising
In a bid to target customers through different media, fast-moving consumer goods companies are using intelligent platforms to determine the effectiveness of the platforms.
“With the fragmented media landscape and changing consumer consumption habits, the challenge for marketers is to invest media money for effectiveness rather than just efficiency. We have manifested this in that we have worked with SANGAM, what we call an in-house media planning deployment and optimisation ecosystem. It’s an intelligent platform that optimises across multiple variables to recommend daily media plans for each campaign,” said Rohit.
Distribution network
To strengthen the distribution network and ensure product availability, companies are creating advanced AI systems with distributors.
“We have moved to an artificial intelligence, machine learning ordering system for our distributors, which is helping us better predict distributor shipments and replenishment. This is advancing us in our journey of Supply 3.0,” added Kumar Venkatasubramanian.