Sean Hershman, MBA’s Post

Go where the growth is

Numerator recently analyzed the top 100 growing CPG major categories to understand 2023 growth trends. 🥫 87 of the categories saw faster growth rates coming from channels outside of Food, Drug and Mass (FDM) – such as eCommerce, Dollar, Club, Specialty and Home Improvement channels. When looking at the top 10 Food, Drug and Mass retailers, the analysis shows: 🏪 Over half (51%) of shoppers who purchase these top 100 CPG growth categories buy those categories both inside and outside of FDM. 🛒 Four out of five consumers (81%) buy the same category at multiple retailers. Read the press release to learn more: https://lnkd.in/e6Zvw8VJ #Numerator #CPG #FDM

How data-driven grocery influences brands ... Grocery retailers are evolving into more mature users of data related to brand performance and shopper behavior. Implications for CPG brands: 🍎 DATA: AI will speed up grocers' pricing, promotion and assortment decisions. Ongoing brand building and product innovation (or acquisitions of smaller CPG superstars) can keep big players relevant. 🍊 PRIVATE LABEL: Brands can treat store brands as worthy rivals, and monitor grocers' private label moves to inform their product development and promotion strategies. 🍌 RETAIL MEDIA: To stay competitive against new players and private labels, classic brands can invest in retail media ads to remain top-of-mind along the customer journey and drive sales. 🥝 CONSUMER NEEDS: Agile brands will pounce on shifts in consumer demand for products that align with needs like value, wellness, sustainability and diversity. How else can CPG brands adapt to data-savvy grocers? See today's RetailWire article and join in the discussion. #retail #ecommerce #grocery #CPG

"hoarding knowledge ultimately erodes your power. If you know something very important, the way to get power is by actually sharing it"  – Joe Badaracco 📈 In 2024, grocery faces inflation-driven price hikes, leading consumers to prioritize essentials. Brands must adjust strategies. Here are 5 key trends for growth: 🛒 - Thanks Annie DiVenere for sharing this NielsenIQ knowledge drop. 🎤 Private Labels Making Gains 🏷️ Private label sales surged to 19.4% of dollar share, up 5% YoY. 💼 Strategies like brand loyalty and innovation are crucial for competition. Sustainability Matters to Consumers 🌱 95% prioritize sustainability in grocery purchases. 📦 Clear sustainability labels on packaging are essential. Value Shopping is Up 💰 Sales share grew in value price tiers (+0.6 pts). 💡 Emphasize value propositions to stay competitive. Promotions are Major Drivers 🎉 Promotional sales surged in Grocery and Perishables. 📊 Optimize promotions to match evolving consumer behaviors. Omnisales are Growing, but Slowly 🌐 Online sales outpaced in-store growth by 3x in 2023. 💻 Invest in actionable data for omnichannel strategies. 3 Tier Beverages is here to help with your data needs in partnership with VIP (Vermont Information Processing) and NIQ untilizing the Byzzer powered by NielsenIQ and CGA by NIQ data 📊 platforms. #dataanalytics #beverageindustry #innovation

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

The CPG industry is always evolving, and keeping up with the latest trends is essential for businesses to thrive. In today's world, customers expect more from the brands they buy from, and companies must stay competitive to avoid being left behind. To stay ahead of the game, it's crucial to invest in the right areas. As we look towards 2024, there are several key trends to watch out for in the CPG industry. To ensure success, companies must make the following investments: - Personalization: Customers want personalized experiences, and companies that can deliver will stand out from the rest. - Sustainability: With environmental concerns on the rise, investing in sustainable practices and products is a must. - E-commerce: Online shopping is here to stay, and companies that can offer a seamless e-commerce experience will have a significant advantage. - Innovation: Keeping up with the latest technology and trends is crucial to staying ahead of the competition. By investing in these areas, your company can stay ahead of the game and meet the evolving needs of customers. What other trends do you think will shape the future of the CPG industry? Share your thoughts in the comments below. #CPGIndustry #Markets #Investments #Silo

"Retailers relying on data to make decisions – what a novel idea! The game is all about sell-through," says Mark Ryski, Author, CEO & Founder of HeadCount Corporation. "Armed with better data, retailers are making decisions based on outcomes vs. brand promises, and it’s paying off for them. We are way past the era of Tide detergent driving store traffic. Consumers are more savvy and so are retailers. The rise of private brands is a double-whammy for established brands: 1) consumers want/demand lower prices, and 2) retailers get better margins. As demand for some brands continue to diminish, they will be forced to scrape the old playbooks of ‘stack it high and watch them buy’, and bring something truly valuable to the consumer. Buying endcaps won’t save them. And while sustainability and ethical production play well in the press, consumers are still reluctant to buy if the price differential is too high."

Stop Doing This If You Want Retailers to Notice Your Product! Competing in a saturated market is tough, but with the right strategies, your product can standout amidst the competition. Here are my top 5 tips for selling your product to retailers: 1. Differentiate Your Brand ↳ Example: Method revolutionized the household cleaning market with eco-friendly and aesthetically pleasing products, setting them apart from traditional brands. 2. Build Strong Relationships ↳ Example: KIND Snacks focused on creating genuine connections with retailers through consistent communication and support, leading to widespread retail success . 3. Optimize Product Packaging ↳ Example: RXBAR’s transparent packaging showcased its whole ingredients, helping it stand out on crowded shelves and resonate with health-conscious consumers . 4. Leverage Data and Analytics ↳ Example: Dollar Shave Club used consumer data to tailor its product offerings and marketing strategies, resulting in rapid growth and acquisition by Unilever . 5. Offer Exclusive Retailer Deals ↳ Example: Halo Top created exclusive flavors like "Peaches & Cream" and "Chocolate Caramel Lava Cake" for Walmart, driving traffic and creating buzz around the brand . By focusing on these strategies, you can carve out a niche for your product and achieve significant retail success. What's your biggest challenge in selling to retailers? Let's discuss! #RetailSuccess #CPG #ProductMarketing #BrandBuilding #FoodInnovations

Radical industry upheaval, lower barriers to entry and higher competition are all factors that will shape the diverse and distinct future of grocery retail. What does that mean for the CPG companies who have traditionally dominated grocery assortment, prices, and promotions? Deloitte conducted research in collaboration with over 100 leading US grocery executives with a primary focus on examining notable shifts in consumer preferences and their influence on assortment strategies. Some key findings include: ·      Demand-Driven Transition: The industry is shifting from supply-driven to demand-driven, where consumers are overwhelmed by too many options. They don't want to sift through 30,000 SKUs when they only need 300. ·      Competition for Wallet Share: Converging industries are increasing competition for consumer spending. Grocers can leverage the necessity of food to boost sales of non-food items. ·      Data-Driven Personalization: As consumers' preferences become more distinct, data-driven personalization is crucial for tailored assortments and promotions. ·      Wellness and Sustainability: As consumer preference shifts towards wellness and sustainability, retailers aligned with these values can compete beyond price. ·      CPG Incursion: Grocers are encroaching on CPG territory by offering high-margin store-branded solutions, leveraging their customer relationships and data. Hyper-personalization is driving companies to pursue growth in the form of less SKUs, more distribution points, and incremental services. While this may be a complex challenge for legacy companies to pivot, agility and customer loyalty will be key factors to success in a world with ever-changing consumer preferences. https://lnkd.in/ggG-C6_8

"Retailers relying on data to make decisions – what a novel idea! The game is all about sell-through," says Mark Ryski, Author, CEO & Founder of HeadCount Corporation. "Armed with better data, retailers are making decisions based on outcomes vs. brand promises, and it’s paying off for them. We are way past the era of Tide detergent driving store traffic. Consumers are more savvy and so are retailers. The rise of private brands is a double-whammy for established brands: 1) consumers want/demand lower prices, and 2) retailers get better margins. As demand for some brands continue to diminish, they will be forced to scrape the old playbooks of ‘stack it high and watch them buy’, and bring something truly valuable to the consumer. Buying endcaps won’t save them. And while sustainability and ethical production play well in the press, consumers are still reluctant to buy if the price differential is too high." Check out more insights from one of the retail industry’s leading experts - https://buff.ly/3qRfPx2. More great comments on this topic by RetailWire's BrainTrust experts including: Neil Saunders, Rachelle King, Anil Patel, Lisa Goller, MBA, Gene Detroyer, Scott Benedict, Jeff Sward, Richard George, Patricia Vekich Waldron, Dave Wendland, Oliver Guy 🚀, Mark Self, Brian Cluster, Trevor Sumner, John Karolefski, and Carlos Arámbula.