CPG brands experienced more absolute growth in 2020 than in the four-year period from 2016 to 2019. With this growth came new consumer preferences, shifting shopping behaviors, and the acceleration of ecommerce.
Evolved consumer attitudes mean that many CPG portfolios are balancing the need to support new areas of demand, while also defending their core. Growing trends like self-care, demand for purpose, convenience and flavor experimentation will likely continue to fuel the category.
As consumers begin to embrace more time outside of the home, CPG brands will continue to evolve their approach and explore strategies that capture attention and build direct relationships with their customers.
If you have any questions, please reach out to Caitlin Collins, VP, Client Strategy.