The world's top consumer intelligence firm, NIQ-GfK, announced its partnership as the “Intelligence Partner” at the Global Business Summit in 2024.
Following their 2023 merger, NIQ and GfK became a genuinely worldwide force with operations in over 100 markets, reaching over 90 percent of the world's population.
Key industry figures, including S Sunil Kumar (President, Henkel), Preeti Bajaj (CEO & MD, India, Luminous Power Technologies), S N Satish (CEO, India, Haier), Anurita Chopra (CMO, India SubContinent, Haleon), Manish Anandani (MD, South Asia, Philippines, Kenvue), and Nikhil Mathur (MD, India, GfK – An NIQ Company), will participate in an exclusive panel discussion on "Business Resilience in the Customer-Centric Era" on February 10th at The Global Business Summit 2024.
With an emphasis on three pillars—Tech Disruption, Data Culture, and Business Resilience in 2024 and Beyond—this session seeks to explore significant topics influencing our present and future. There will be senior delegates from a variety of industries present at the session.
Tech Disruption: Leading the Way in Innovation
Disruption in technology drives innovation in the global marketplace. According to recent studies, India is adopting technology at a rapid pace. By 2029–2030, generative AI is expected to boost India's GDP by $1.2-1.5 trillion.1 NIQ-GfK highlights the need of setting the example rather than merely keeping up. Innovation is about following 'value-driven' strategies for breakthroughs, not only premium positioning.
Nikhil Mathur, Managing Director - India, GfK – An NIQ Company said, "It's about leading the way. Companies that continuously innovate benefit the most during market slowdowns. According to NIQ Consumer Outlook, FMCG manufacturers who innovate are 1.8 times more likely to grow overall sales, and those who innovate during crises outperform those who do not. Notably, 63 percent of global consumers say they would purchase a product that has been innovated to be as affordable as possible."
Data Culture Development: Navigating Challenges for Success
Global problems are revealed by the GfK CMO Outlook Report, which finds that 29 percent of senior marketers face opposition to changing techniques inside their companies and 33 percent of marketers struggle to connect data from multiple sources. NIQ-GfK highlights that organizations can overcome these obstacles by placing data front and center.
Nikhil Mathur further added, "As we anticipate disruption through predictive analytics, brands can harness the power of data-driven insights to exceed customer expectations".
"The greatest barrier to data success today is business culture, not lagging technology."
Embrace Trends and Technologies for 2024 and Beyond
Industry executives are urged by NIQ-GfK to adopt trends and technologies for 2024 and beyond to take advantage of all available chances for development and innovation. To sum up, rebuilding and redesigning for future generations is a necessary part of embracing change. In this data-driven, customer-focused era, increasing brand relevance is a chance to demonstrate a dedication to quality.