The global consumer industry experienced a 50% drop in company filings mentions of digitalization in Q2 2023 compared with the previous quarter, with the highest share accounted for by Kao with 1986% year-on-year increase, according to GlobalData’s analysis of over 519 consumer company filings. Digitalization is one of the eight mega-trends that GlobalData covers as part of the TrendSights series of consumer insight studies. GlobalData’s Digitalization – Consumer TrendSights Analysis report highlights the market drivers, the relevance of trends by sector and provides strategic take-outs for new product development. Buy the report here.
Notably, digitalization was one of the most frequently referenced themes in Q2 2023, ranking highest in terms of mentions, ahead of easy & affordable and environment, according to GlobalData.
Of the top leading companies in the consumer industry, Kao had the greatest increase in references for digitalization in Q2 2023, compared with the previous quarter. GlobalData identified 146 digitalization-related sentences in the company's filings - 2% of all sentences - and an increase of 1986% in Q2 2023 compared with Q2 2022. Haier Smart Home’s mentions of digitalization rose by 127% to 50 and Colgate-Palmolive’s by 217% to 38 and China Resources Beer (Holdings)’s by 3400% to 35 and China Mengniu Dairy’s by 29% to 27.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for digitalization in Q2 2023 was 102.
For further understanding of GlobalData's Digitalization – Consumer TrendSights Analysis, 2022 buy the report here.