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 Services 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
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.
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.
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.
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
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
For more information or to discuss your business needs, contact Withum’s Consumer Products Services Team.
Red Bank, NJ
Red Bank, NJ
Princeton, NJ - Corporate Headquarters
East Brunswick, NJ
East Brunswick, NJ
New York, NY
The NFL’s Wage Gap Issue and a Solution
The salary cap in the NFL is up to $208 million per team for 2022 and continues to rise each year by about $20 million. This salary cap sets a […]
The Advantages of E-Commerce Enablement Technologies
In the past few years, people have become more accustomed to the digital world, and the demand for businesses to provide instantaneous, painless, and individualized buying experiences on their online […]
Using Your Platform for Charitable Causes
Being a public figure in today’s day can be very profitable and comes with a far-reaching platform that can be used to make a significant impact for charitable causes. Along […]