Highlight’s Post

Join us next month for the first webinar in our new Highlight Reel series, focused on the better-for-you CPG landscape. More details and the registration link are included below! #webinar #cpg #bfy #betterforyou #consumerinsights #marketresearch

Trends shaping the #GroceryMarket in 2023 and beyond 1. Ongoing pressure to deliver value to consumers: Reducing spending remains a top priority for #shoppers in all income groups. Indeed, nearly 60 percent of consumers are looking for ways to save money, an increase of 13 percentage points from 2022. 2. Elevated personalized experience across channels: Grocers will continue to invest in personalization and #omnichannel capabilities to attract, engage, retain, and deliver value to customers. To remain competitive, grocers should use purchase history to inform product offerings. 3. #BroaderBusinessDiversification: #GroceryRetailers are evolving their #BusinessStrategies to create ecosystems and explore new revenue streams. They are partnering with tech companies, expanding into consumer services, and selling B2B services. For instance, they've launched e-marketplaces, retail media networks, and health and wellness services. Partnerships with tech companies are on the rise. 4. Acceleration of #GenerativeAI: Grocers should consider developing plans to harness generative AI to transform their business, capture more value, and accelerate growth opportunities. For now, the majority of use cases remain within analytics and the consumer front end. KEY PRIORITIES FOR 2024 • How can we create a seamless omnichannel experience to deliver a personalized offer and messaging at the right time and in the right place? •Which generative AI use cases should we prioritize, and how do we create a test-and-learn culture to get the most out of this technology? •What actions do we need to take to accelerate our transition to renewable power, establish recycling solution coalitions with other grocers, and amplify messaging around ESG-related claims? Read the full article here➡ https://lnkd.in/g_2rUUVx #FoodRetailIndustryNews #FoodRetailIndustryTrends #FoodIndustry #FoodBrokers #WholesaleFoods #Sustainability #TrendTopics #GroceryMarketIndustry

FMCG consumers are a whole new breed. They're not just looking for the lowest price anymore. They want products that match their values – think sustainability, ethical sourcing, and social impact. They expect personalized experiences, crave convenience, and are heavily influenced by what they see online. Is your brand keeping pace with these evolving demands? Are you offering more than just products? Are you delivering experiences and building a community? It's time to rethink your FMCG strategy. The future belongs to brands that understand the new consumer. #FMCG #ConsumerEvolution #NewConsumer #RetailTrends #Marketing

This statistic is mind-blowing and here's why: - Legacy consumers panels primarily focus on traditional Food, Mass, and Drug - If 87 out of the Top 100 Growing CPG Major Categories are seeing most of their growth happening OUTSIDE of these channels (think Amazon, Aldi, Costco), brands could be missing out on 65% of the trips their shoppers are taking, which means they are left making important business decisions based on assumptions over facts - It also becomes harder to prove the value of your brand to retailers if you don't have the full picture If anyone is interested, I'd be happy to take a look at your brand's performance in these non-traditional, yet high-growth channels

Remember a few years ago when nearly every routine in day-to-day life was disrupted? It seemed like every business pundit came out proclaiming that "we will never go back to shopping in physical stores" and that every business strategy in the history of the CPG industry was now worthless. But anyone with even a tiny background in behavioral science knew those statements were extremely overzealous. Yes, the disruption in daily experiences presented a rare moment for long-term change...but only if consumers were surprised and delighted by new experiences, making consumers more willing to repeat the behavior. Did that happen for you? We didn't experience those moments often. So, now back in ordinary times, consumers stick stubbornly to their most deeply ingrained habits (like shopping), resulting in very slow adoption (if any) of beneficial innovations that require behavior change. That doesn't mean that consumer beliefs, habits, occasions, and emotional-need states won't continue changing in the future...it just might not be as quick as everyone wrongly assumed during 2020 to 2021. #strategy #trends #markets #shopping #retailing #retail #grocery #ecommerce #fmcg #cpg #food #beverages #merchandising #supplements #sportsnutrition #innovation #businessintelligence #business #entrepreneurship #consultants

STORY SELLS: Emerging brands would do well to sell on their story and how they differentiate vs. competing on price, according to NielsenIQ's Patrick Dougherty, who moderated a roundtable on center store trends at ECRM's Grocery session in Chicago this week. In this interview with Joseph Tarnowski, Pat provides some key takeaways from the roundtable discussion, including the impact of rising costs on consumer behavior, and where store brands fit into the equation. Emerging brands should also check out NIQ's Byzzer powered by NielsenIQ platform, which was built specifically for their data needs. #cpg #cpgindustry #retail #grocery #ecrmrangeme

Today’s consumers are exposed to tons of new products. According to a Nielsen study, around 57% of recent survey participants stated that they had bought new products during their last trip to a simple grocery store. That is only in one segment. What about the whole CPG industry? How can you stand out with recurring launches of relevant new products? You need to stay at the top of your customers' minds through a sustainable new product roadmap. https://lnkd.in/greQVN_D #appletongreene #appletongreenandco #certifiedexcellence #accreditedassociatelearning #accreditedexecutivelearning #accreditedseniorlearning #businessconsultants #businesstrainings #professionaltrainings

FMCG consumers are a whole new breed. They're not just looking for the lowest price anymore. They want products that match their values – think sustainability, ethical sourcing, and social impact. They expect personalized experiences, crave convenience, and are heavily influenced by what they see online. Is your brand keeping pace with these evolving demands? Are you offering more than just products? Are you delivering experiences and building a community? It's time to rethink your FMCG strategy. The future belongs to brands that understand the new consumer. #FMCG #ConsumerEvolution #NewConsumer #RetailTrends #Marketing #Goybo

As one of many approaches to boosting volume, the industry is pivoting “from mass to micro.” Grocers want to get closer to their consumers and engage them as individuals. Dive into our latest consumer research—based on survey responses from over 200K adults across 12 countries— that shows personality has predictive power for what people buy and how much they spend. #consumer #retail #grocery

More insights from the McKinsey & Company report: Consumers are buying fewer items and spending more for them. The volume declines in consumer packaged goods (CPG) are dramatic vs 2020. Why? Simply, 💰💰💰 pricing/economic factors This was true for all 5 of the segments studied - Personal care, grocery, household, pet, and baby. Recommendations from the report: 👉 Reevaluate product assortment and investment to align with current consumer demands, exiting non-performing segments and emphasizing growth areas, especially in health and wellness. 👉 Expand product availability in growing channels, particularly value and online, and explore unique offerings tailored to these environments. 👉 Adjust pricing and promotion strategies to respond to consumer price sensitivity and input cost pressures, utilizing price pack architectures and value promotions to encourage purchases. 👉 Continue investing in brand loyalty and consumer acquisition to build brand affinity and encourage both physical and digital cart additions. 👉 Use AI and analytics to recalibrate supply chains for efficiency and flexibility, removing redundancies and adapting to current demand levels. Full report: https://lnkd.in/gKF4-kWB Thanks to Christina Adams, Kari Alldredge, and Warren Teichner #retail #spending #shopping