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Consumer goods companies last year cut costs, kept a close watch on cash, and shed underperforming and non-essential brands to cope with the recession. Now, they’ll have to focus on growth coming out of the downturn, per a new study released today by PricewaterhouseCoopers.
The study, “Forging Ahead in the New Economy,” which was conducted in conjunction with the Grocery Manufacturers Association, found that innovation and untapped emerging markets are major opportunities for companies.
Innovation, such as new product technologies, will be a key factor for growing revenue, especially in “mature” or well-established product categories, per the study.
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