What does the C-suite barometer 2023 reveal for the consumer sector?

We asked C-suite executives in the consumer sector for their views of the challenges and opportunities that lie ahead.

Optimism in the face of ongoing challenges

Our study found that 90% of consumer sector leaders have a positive outlook for growth in 2023, four points higher than global C-suite executives across all industries. This is despite external trends like rising inflation, energy prices and competition which are still ongoing challenges.

C-Suite - Consumer - ongoing challenges

Top strategic priorities for the sector in the next five years

Leaders in the sector reveal that the priorities their businesses will focus on in the next five years are: transforming IT; a new or revised sustainability strategy; restructuring and cost reduction; and reviewing supply chains, operations and processes.

C-Suite - Consumer - top strategic priorities

Embracing a digital world

C-suite executives expect emerging technologies to have a big impact on their organisations. For this reason, understanding automation and artificial intelligence, in particular, will be essential for their future growth.

With new technologies comes higher cyber security risk, but retail & consumer executives are confident in their level of data protection (64% say completely protected, similar to 66% globally). Over half think the cyber risk has increased in the last year but a strong majority (91%) are confident they can manage these risks.

C-Suite - Consumer - digital world

Investing in a sustainable future

In line with global peers, CxOs in retail & consumer are committed to sustainability reporting, but lack confidence in overcoming data quality challenges.

However, the sector lags behind when it comes to budgeting costs to implement sustainability strategies and reporting, with only 60% of respondents having done so compared with 65% across all industries.

C-Suite_Consumer_gobal vs consumer updated version

Recognising the importance of diversity and talent

Over half of organisations in the consumer sector (55%) have more than 30% of their leadership positions held by women, 11% higher than the global average.

Businesses in the consumer sector are committed to gender equality and social inclusion, with 63% having dedicated ‘gender equality and sexism’ programmes, 10% higher than organisations globally.

 

C-Suite - Consumer - leadership roles

This sector has not fully returned to pre-pandemic work-place norms and problems remain, 58% report ongoing challenges with remote work (10% higher than other industries globally).

Mazars C-suite barometer

Download the full report

Key contact