- Robert Hill, Jr., vice chairman of Acosta Sales and Marketing and keynote speaker at a summit presented by Fenwick Brands, said that CPG trends are shifting consumer demand and changing the mindset of purchasers, according to a company release.
- Today's consumer is busy and health conscious. He demands simplified solutions. According to Kantar Retail ShopperScape, 87% of all shoppers are "managing their health and wellness in some way," and consumers are willing to pay extra for these premium better-for-you products — a big opportunity for CPG companies.
- Technology is also changing the way that consumers shop. The average shopper is now able to compare prices, download digital coupons, read product reviews and have products delivered directly to them all from their smartphone.
Robert Hill Jr.'s speech is just one of many given each year to offer tips and advice that can help CPG manufacturers get ahead, and it’s important that any company pays close attention to what these experts are saying.
Hill talked about changes in U.S. demographics, including more single people living by themselves and ethnic diversity playing a greater role in areas of the country. That means that for manufacturers to see growth, investing in things like single-serve meals and bringing more focus to specific ethnic foods can do wonders.
In 2014, overall ethnic supermarket revenue was $30.4 billion. Ibis World projects that will increase to $35.2 billion by next year.
Another big takeaway from the event was the notion that consumers are busier than ever and seek convenience. As more consumers are looking for healthy food options, this is a great opportunity for CPG companies to attract new customers with products including better-for-you ingredients, like plant-based proteins or added fruits and vegetables.