.png)
In my 15 years in FMCG working with retail at giants like Procter & Gamble and Coty, I've witnessed a dramatic shift. From an age where consumer trends were dictated by FMCG insights to an era dominated by technology. Now, we stand on the brink of a new dawn: the era of human-centric AI.
The FMCG Era: Consumer Is King
During my time at Procter & Gamble, the mantra was straightforward: the consumer is king. We launched products and campaigns anchored in a profound understanding of consumer desires—finding love and security in diapers, confidence in feminine care, and masculinity in razors. It was this bedrock of insights that propelled brands to new heights. A stellar example was the Old Spice brand resurgence, catalyzed by the iconic "Smell Like a Man, Man" campaign. With wit and humor, we broke the mold in 2011, capturing the essence of modern masculinity and doubling down on the brand’s rebirth. The campaign, featuring the smooth-talking Isaiah Mustafa, catapulted Old Spice to viral fame. Phrases like “Look at your man, now back at me,” and “I’m on a horse,” became part of the cultural lexicon. The result? Great sales results across the globe (e.g. a staggering 27% growth in body wash sales within 6 months in the US) and impressive 4X market share growth in Eastern Europe, where part of our current team was in charge of brand transformation.
At Coty, with beauty brands like Gucci, Hugo Boss, and Calvin Klein, selling was about storytelling and crafting an experience for each luxury shopper. With Calvin Klein fragrances in Russia in 2019-21 we achieved a remarkable feat: growing brand turnover 2x in 3 years, significantly driven by e-commerce. We collaborated with a leading beauty retailer to enhance brand presence online, creating a synergy of media support and analyzing the customer's e-commerce journey through eye-tracking. This led to a 7x e-commerce revenue increase, outpacing the natural customer growth (3x). The success hinged not on the appeal of the product or promo but on understanding and improving the user experience (UX), ensuring every digital touchpoint was intuitive and engaging.
Bridging the Gap: Technology Meets Retail
As the retail sector veered towards technology, I observed the integration of automated systems (e.g. in inventory management or CRM). A key challenge was ensuring technology remained centered on the consumer. Maintaining consumer focus became a pervasive challenge across all technological applications in retail. For example, take user experience (UX), a crucial aspect of technology. This area clearly shows the challenge: despite even small and medium businesses investing an average of 453 k$ annually in improving the UX of their websites (not even mentioning giants investing millions), 48% find their websites UX is below expectations. The consequences of such oversight are clear, as 60% of consumers abandon purchases due to poor UX, and a telling 42% of website visitors decide to stay or leave within the first 10 seconds. This UX data serves as a powerful example, stressing the imperative for consumer-centricity in the broader technological landscape of retail.
The Future of Retail: Human-Centric AI
Reflecting on my journey, I firmly believe that technology's role in retail should be to amplify the human element, not overshadow it. Marrying the nuanced insights from FMCG retail with AI's capabilities, we aim to create a retail landscape that resonates deeply with consumers. Looking ahead, my vision for retail is a seamless blend of personalization with advanced AI. Personalized storytelling should meet the sophistication of AI. My startup, neurometrix.ai, is pioneering in this field, crafting AI solutions that go beyond analytics to truly comprehend the consumer's retail experience. We're developing AI that doesn't just analyze but understands—eye-tracking, object detection, and emotional recognition—to unravel the shopper's journey, both digitally and in-store.