Consumer Products and Retail
Consumers’ appetite, shopping behaviors, changing trends and diversity of demographics combined with the quality of the economy and availability of purchasing power are some of myriad challenges and variables affecting the consumer products companies, as they are competing to grow.
Competition, on the other hand, has taken a turn and is not confined to the big players in the market as innovative products are introduced to the market that could turn the market trend and reshape consumers’ needs. That also creates opportunities for investments in new market powers and integrating them into the bigger conglomerates.
The internet of things and the rise of social media and the different platforms for e-commerce have also reshaped the trading landscape for consumer products and have opened the gates to the global markets adding pressure on the local suppliers to manage global competition and to better price their products to satisfy customers’ expectations.
In UAE in particular, there is a drive for consumerism with higher disposable income and heavy investments in branding the country as one of the world’s shopping destinations. We have witnessed intensive injection of investments in developing mega shopping facilities and attracting global producers and brands to the country and the region.
Hence, there has been more focus on channel optimization between the producer/supplier and consumer, streamlining the underlying logistical processes and improving them through the utilization of technology.
At RISKTAL we bring you our expertise in business process improvements, compliance requirements, risks associated with the consumer products and retail business, through a select of our professional services that will assist you in your journey:
- Mystery guest audits.
- Performance audits.
- RISKTAL digital solutions.
- Technology risk management.
- Innovation and creativity solutions.
- Human capital advisory.
- Development and/or review of policies and procedures manuals.
- Compliance management services.
- Supply chain solutions.
- Internal audit services.
- Forensic data analysis.
- Fraud and corruption prevention services.
- Risk management solutions.
- Business continuity planning.
- Professional training and awareness campaigns.
- Business model transformation.