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US consumer goods, retail CEOs more positive about growth
29
Sep '17
About 95 per cent of US consumer goods and retail CEOs are confident about the growth outlook for the global economy, the industry and their companies for the next three years despite potential technological risks, according to a survey by US audit, tax, and advisory firm KPMG. Such CEOs in other parts of the world do not share the same optimism.

The KPMG survey covered 41 CEOs of US firms and 134 from global consumer goods and retail firms on various topics, including growth, corporate strategy, disruption and risk, according to a company press release.

Sixty-eight per cent of US CEOs are concerned about not leveraging digital means to effectively connect with customers, while only 33 per cent of their global peers think similarly. Two-thirds of the US CEOs agree that technological innovation is likely to disrupt the sector in the next three years, weakening or eliminating many traditional players. To address these concerns, US CEOs will heavily invest in physical and digital infrastructure.

Fifty-six per cent of US CEOs cited cognitive technologies, including artificial intelligence and machine learning, and 41 per cent selected Internet of Things as the most significant areas. Twenty-nine per cent of these CEOs feel the need to re-skill their current workforce and attract new strategic talent to meet their organizations' technology challenges in the next three years. (DS)

Fibre2Fashion News Desk – India


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