Nov 30, 2020
Consumer Trends: Holiday Edition
Strengthen Your Operations
Helping the consumer products industry minimize tax risk, stay compliant and drive efficiency through technology.
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Franchise
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Media and Publications
Navigating media and publication companies through the ever-changing industry challenges.
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Retail and Supermarkets
Enhancing retail and supermarket business operations for increased consumer engagement and purchasing.
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Restaurants, Food and Beverage
Showing restaurants, food and beverage companies how to turn challenges into an opportunity to increase profitability.
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In an industry that has no closing time, you’re burning the candle at both ends to keep up with the competition who also operates 24/7. E-commerce shifts, consumer trends and regulatory changes are just a few challenges consumer products companies face while trying to keep up with their customers’ demands. Withum’s Consumer Products Team works with a variety of consumer-based businesses, so we understand how slim profit margins and market share are impacting business operations. We show consumer products companies how to embrace market changes to stay ahead of the competition.
Consumer Products Industry Challenges
Changing Consumer Preferences
Consumer trends and desires shift quickly and often, which can impact your bottom line negatively if you’re not prepared. Younger demographics are forcing consumer-based businesses to engage with their buyers in new ways.
E-commerce Expansion
Brick-and-mortar shops are quickly becoming less frequented as e-commerce continues to grow. Consumers enjoy the simplicity and convenience of ordering groceries, clothing and takeout from the comfort of their home. But, for businesses, that expanded consumer base brings complex tax liability.
Investment Opportunity
Innovative small businesses are enhancing the value of consumer goods. Whether operating on their own or catching the eye of larger corporations for acquisition, the investment opportunities are increasing for consumer products companies.
Economic Uncertainty
The economy brings in a realm of uncertainty and unpredictability. Businesses are subjected to product volatility, international competition and trade rules, forcing companies to evaluate their supply-chain management.
Custom-Made Solutions for Consumer Products Companies
Consumer Products Accounting Services
- Accounting and financial audits
- Outsourced accounting
- Cash flow analysis
- Payroll assistance budgeting and forecasting
- Tax services
- Business tax
- Sales and use tax
- Research and development tax credits
Consumer Products Advisory Services
- Inventory management
- Strategic planning
- Benchmarking analysis
- Point-of-sale accounting systems and analysis
- M&A advisory
- Buy- and sell-side due diligence
- Cybersecurity assessments
- IT managed services
- Network penetration testing
- Succession planning
- Employee compensation and pension plans
- Union negotiations
- Supply chain management
Testimonials
I'm delighted with this professional relationship with Withum being a trusted advisor to Greyson.
I look forward to working with you at year-end and beyond
I look forward to working with you at year-end and beyond
Associations
Withum's Consumer Products specialists are proud members of the below organizations.
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