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An outcome of our Future Value Chain 2022 programme, the rationale for the Consumer Engagement Principles project notes that in the context of consumer trust and legislation, and with regards to the use of digital technologies, the industry needs to protect its ability to create mutual value in digital consumer engagement. Our goal is to have consumers view the industry as a responsible user and steward of consumer data and insights – thus forming the common foundation from which the digitally enabled value exchange can be optimised by individual companies.
 
The creation of the CEP is influenced by an ecosystem consisting of four broad entities: governmental bodies, industry bodies, companies and consumers. The CEP will bring together and build on existing initiatives, platforms and policies from these entities.
 
  • Governmental bodies: Privacy is a global topic. Governments are amending or developing privacy laws to protect individuals, clarify rules for businesses and keep up with developments in society and technology.
  • Industry bodies: A number of marketing organisations have created codes of conduct to provide recommendations for collecting consumer data and direct marketing activities.
  • Companies: Most companies have an established code of ethics or business conduct; many address the issue of data usage and privacy either in a general or specific way. However, there is little consistency among the policies. 
  • Consumers: There is a lack of established global principles in the digital medium focused on consumers. While the CEP builds on existing initiatives it is being created and driven by the consumer goods and retail industry, for the industry, with ownership by The Consumer Goods Forum and endorsement by our Board of Directors.
 
Find out more via our CEP webpage, or contact us at r.hagedorn@theconsumergoodsforum.
 

 

This post was co-authored and contributed by:

Sabine Ritter, Executive Vice President (left)
Ruediger Hagedorn, Sr Manager, Collaborative Value Chain Initiatives & Projects (right)
The Consumer Goods Forum