Consumer Leaders Are Looking Inward to Drive Growth

Consumer CEOs are uncertain about the future following years of repeated, global shocks. Yet they are cautiously optimistic, with many investing in their teams and structures to unlock growth.

This was the thread that wove together our fourth annual Consumer CEO Review and suggests a significant global shift in mindset. While in 2022 consumer companies were looking to bring in fresh executive talent to respond to external shocks, build or protect market share, and fuel innovation, they are now looking to develop their new teams by hiring selectively and using culture as an engine for growth.

Twelve months ago, everything was about attracting and acquiring talent. Now it’s about making the most out of the talent you have. That’s our biggest opportunity.

– Heather Wallace
CEO, Curology

Understanding what’s affecting consumer industry leaders

To understand consumer market conditions, assess how businesses are responding, and figure out what this means for leaders, we interviewed more than 50 CEOs, presidents, and regional or divisional leaders from retail, FMCG, leisure, hospitality, media, and technology companies around the world.

What we found was a sense of cautious optimism. Persistent macroeconomic pressures and general uncertainty still give cause for caution, while confidence in leadership teams drives optimism. Everyone we interviewed told us that while it’s still challenging to predict what will happen in the coming year, growth is achievable.

When we asked each leader what they’re prioritizing to deal with the uncertainty, they pointed to building team resilience, cutting costs, investing in technology, delivering on ESG initiatives, and retaining and developing critical talent.

All this means that the pressure on consumer leaders has never been greater.

Read the full Consumer CEO Review for first-hand insights into:

• Consumer market conditions
• The consequences for business
• The implications for leadership
• What all this means for talent management