What's Next for CPG Brands in Unprecedented Times?
Progressive Grocer|June 2020
What's Next for CPG Brands in Unprecedented Times?
RETAILERS CAN LEARN LESSONS FROM THE GREAT RECESSION.
Krishnakumar (KK) Davey
In response to the unprecedented and evolving impact of the COVID-19 pandemic, the consumer packaged goods industry is focused on adapting supply chains, manufacturing and marketing to meet the rapid changes in demand.

With shoppers easing into a new normal, CPG brands must prepare for consumers faced with financial difficulties, social restrictions, and personal health concerns. Looking ahead in such uncertain times can be a challenge but studying trends in the CPG demand curve and shopper behavior from the most recent historical precedent — the 2008-09 Great Recession— provides one of the best road maps for brands interested in optimizing their strategies during the anticipated economic downturn.

The CPG industry is significantly more resilient to recession than other retail channels. During the past few months, overall CPG demand has increased by 15% to 20% compared with the same period in 2019, according to the IRI CPG Demand Index. CPG’s “essential” status has never been clearer. Nevertheless, data shows that the Great Recession caused clear shifts in CPG consumer shopping behavior, channel preferences, and category demand.

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June 2020