NEW YORK – Household grocery spending in the United States increased 14% in the year since the start of the health crisis related to the coronavirus pandemic, according to a consumer survey from NCSolutions (NCS), which finds that nearly half of Americans are eating healthier and cooking more. Nearly all say they are cleaning and
CHICAGO — COVID-related shifts in consumer shopping and consumption behavior helped drive total CPG industry growth of roughly 10.4% in 2020, significantly outpacing the prior three-year compound annual growth rate (CAGR) of 1.8%, according to a study from IRI and Boston Consulting Group (BCG). The ninth annual CPG study from IRI and BCG also looks
CHICAGO — COVID-19 vaccines have begun in the United Kingdom and Canada, and the start of vaccines in the United States is set to follow very soon. Strong adoption of vaccinations will increase consumer confidence and speed up social mobility, ultimately driving economic growth. IRI’s latest report, “Anticipated Vaccine Adoption and Impact on CPG Industry,”
Keeping up with today’s consumers can be all consuming. The consumer packaged goods industry is at this critical turning point. The established players are being forced to listen, as owning and selling a big global brand no longer guarantees survival. The rise of plant-based, lactose-free, vegan-friendly, “clean,” natural and organic products is testament to the
ARLINGTON, Va. — The Grocery Manufacturers Association (GMA) will become the Consumer Brands Association. The name change will take effect in January 2020, the 110-year-old trade association announced on Thursday. “We represent an industry of iconic brands that are innovative, forward-looking and touch the lives of every American,” GMA President and CEO Geoff Freeman said
Bigger is not necessarily better anymore, at least when it comes to consumer packaged goods companies. According to research from the Boston Consulting Group and IRI, scale is not the competitive advantage it once was for CPG companies. In fact, one of the study’s key findings was that smaller companies are outpacing their larger counterparts
CHICAGO — The growth in consumer packaged goods is anemic, and marketplace competition is fierce, so winning in this environment requires a keen understanding of consumers’ evolving path to purchase and dynamic marketplace shifts. To get a clear understanding of the rapidly changing CPG marketplace and the latest growth opportunities, IRI took a closer look
A provocative new study by KPMG, a provider of audit, tax and consulting services, asks, “Is it zero hour for consumer packaged goods companies?” The premise of the piece is that the paradigm that has governed the mass market is in the process of breaking down, and manufacturers that fail to adapt are at risk