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Spiritual health, often overlooked in holistic well-being, deserves greater attention. While physical health has traditionally been the main focus and mental and social health are gaining recognition, spiritual well-being plays a critical role in enhancing overall health. McKinsey Health Institute’s (MHI) global survey of 41,000 people finds that spiritual health matters to many, regardless of age, country, or religious beliefs. Studies further show that fostering spiritual health can significantly improve…

What will it take for the consumer goods industry to turn its fortunes around? Once a leader in total shareholder returns (TSR), the industry has fallen from the top to the bottom quartile in TSR performance. This episode of the McKinsey on Consumer & Retail podcast examines the reasons for that decline—and what consumer packaged goods (CPG) companies can do about it. The episode is excerpted from a webinar on “Rescuing…

Executive summaryThe automotive industry has been a stronghold of the European economy for decades but is now facing disruption from electric mobility. In 2023, the industry contributed $1.9 trillion in gross value added (GVA), with technology and car exports creating $620 billion in value. Electric mobility could add $240 billion to $300 billion in GVA in after-sales support and services by 2035. But based on current trends, European production value…

The narrative surrounding generative AI (gen AI), a moon shot, once-in-a-generation innovation, is that it could utterly reinvent how businesses—consumer-packaged-goods (CPG) companies among them—are run. CPG leaders are heeding the call. In a 2024 survey of CPG leaders, 71 percent said they adopted AI in at least one business function of their organizations (up from 42 percent in 2023), while 56 percent said they were regularly using gen AI. However,…

At a glance Micro-, small, and medium-size enterprises (MSMEs) are the bedrock of the US economy. They employ nearly six in ten workers, produce almost 40 percent of value added nationally, and grow into a meaningful share of very large corporations. MSMEs in the United States are only half as productive as large companies, compared with 60 percent in other advanced economies. Narrowing the productivity gap, which is equivalent to…

Consumer-facing companies across all types of sectors have already begun to harness the power of modern retailing techniques. Tactics such as bundled offers and dynamic pricing can provide a boost to an organization’s revenue and profit. At the same time, they are creating better, more relevant experiences for consumers. Airlines, however, have yet to capture many of these benefits. For instance, some might fail to bundle the sale of a…