Consumer goods manufacturers do not dare to plan for the long run

Consumer goods companies are only planning for the short term to meet the sudden and unpredictable changing needs of customers, according to a joint international study of 370 industry leaders by EY and MIT. Fmcg market participants can now plan ahead for a maximum of 2 years instead of the previous 5 years. The primary reason for this is that their customers can change their opinions about a product in the blink of an eye based on online reviews and social media influencers’ posts, and this has a spectacular impact on their shopping habits.