ANALYZING HOW EVOLVING CONSUMER BEHAVIOR TRENDS DRIVE PRODUCT INNOVATION AND COMPETITIVE ADVANTAGE IN THE FAST-MOVING CONSUMER GOODS SECTOR

Abstract

This paper examines how evolving consumer behavior trends influence product innovation and competitive advantage in the fast-moving consumer goods (FMCG) sector. Shifting demographics, technological advancements, and environmental concerns are some of the pivotal factors driving this transformation. By analyzing literature and exploring key trends such as sustainability, personalization, and digitalization, this study highlights the intersection between consumer preferences and innovation strategies. A comprehensive approach integrates insights from academic literature, industry data, and case studies to assess how companies can leverage these trends to maintain a competitive edge.