While it’s worth knowing that Canadian LGBTQ+ consumers are big spenders living in big cities, it’s equally important for retailers and manufacturers to know where they’re shopping and what they’re buying.
Canada’s LGBTQ+ consumers communities have very deep pockets, as they are responsible for $3.7 billion in fast-moving consumer goods (FMCG) purchases each year, which represents 4.4% of the country’s total FMCG purchases.
Millennials are quite literally the future, but for brands and marketers looking to reach them, understanding and harnessing their purchasing power can be a daunting task. It all starts with getting to know who these consumers are and what they’re looking for.
There has never been a more dynamic and challenging time to be a marketer. Since the advent of the internet, fueled by available high-speed access and ignited by the proliferation of powerful new devices, marketers have more access to consumers than ever before.
The DMP serves as the nervous system for your organization’s digital ecosystem helping you unify, make sense of and unlock the value of disparate streams of data, uncover and build valuable consumer audiences, and reach those high-value audiences with personalized messaging in real-time across the digital ad ecosystem.
Today, access to information is unprecedented, consumers are empowered to make smarter buying decisions and marketers have amassed immense quantities of data about consumers. Technology has transformed many industries permanently, but perhaps none as much as marketing.
Today, online fast-moving consumer goods (FMCG) sales account for 2% of total FMCG sales, or $2.2 billion, in Canada. However, that number is growing. But are consumers' online shopping habits the same across the country?
We expect lifestyle, the “little and often” trend, technology and location to be four of the key influencers on shopper’s behaviour in 2018, which, if executed well, will be true foot traffic drivers for c-store retailers.
As Millennials age and progress in their careers, more households will be led by this dynamic consumer group, and their purchasing power will grow with them. Across generations in Canada, Millennials are the most financially optimistic, with 28% stating they are better off financially today than they were a year ago.
Now in place, the minimum pricing of alcohol regulation in Scotland means that a single unit of alcohol cannot be sold for less than 50p. And as a result, the stronger the drink, the more expensive it will be. So what effect might that have on consumption?
Canadian consumers make, on average, 156 shopping trips annually and spend $8,645 per year across all FMCG channels. But those numbers can vary by province. Where consumers live is a key factor that affects how we spend.
When it comes to growth, it’s hard to ignore what we’re seeing in emerging markets. In fact, they’re currently generating two-to four-times the FMCG growth of developed markets. But just because the big picture boasts big opportunity doesn’t mean capitalizing on the right opportunities is easy.
2017 was a good year for global consumers, with consumer confidence ending the year at a near-record level. Notably, 51 markets finished the year with higher confidence than they did in 2016, and the gains were bigger than 2 points in 46 markets.
More than any other consumer industry, beauty and personal care are driven by trends. New trending ingredients, formulations, colors and brands come around every season. Walk into your average retail store and you’ll see this reflected on shelves.
There’s a new retail revolution underway, and it’s going to affect the global food industry in ways the market hasn’t seen before. The revolution comes at the hand of store-branded products, which continue to gain share across all major geographies.
While sales of fast-moving consumer goods in some traditionally successful markets like the U.S. saw signs of softness in early 2017, opportunities for growth are still readily available if you know where to look.
There’s a new retail revolution underway, and it’s going to affect the global food industry in ways the market hasn’t seen before. The revolution comes at the hand of store-branded products, which continue to gain share across all major geographies around the globe.
Five years ago, mainstream alcohol segments drove the majority of the alcohol sales growth in New Zealand. More recently, niche products have emerged, and Kiwis are increasingly opting for more premium and unique beverage offerings.
As Canada's population of ethnic consumers grows increasingly dominant, retailers and manufacturers need to focus their strategies and products accordingly to ensure they connect with the right consumers at the right time.
Compared with the everyday consumer products we buy frequently, like paper towels and boxed cereal, durables have a much longer shelf life. Items like electric razors, coffee makers and irons fall into this category, and they play key roles in the everyday lives of consumers—yet in much different ways than fast-moving consumer goods do.
In the face of rapidly evolving business and economic landscapes around the world, the importance of organizational intelligence and foresight thinking as a tool to unearth early indicators of change and unlock growth has never been greater.
What do dental chews for pets, adult incontinence undergarments and sweetened light beer have in common? On the surface, absolutely nothing. A closer look, however, reveals that each solved a specific "job to be done."
As marketers seek greater accountability in today’s increasingly omnichannel shopper landscape, demand for outcome-based ROI measurement has become more important than ever across the media, retail and FMCG industries.
Backed by rising consumer confidence and optimism, many of the world’s economies are experiencing degrees of positive momentum. In some cases, that momentum is strong; in others, it’s subtle, but still worth noting.
Thanks to globalization and connectivity, consumers around the world have access to a wider array of products than ever. So how much weight does the “made in” moniker carry when it comes to purchase motivation?
We’ve been talking about health and wellness for years. There are two critical forces at play that are shifting this topic from niche to mainstream: increasingly complex needs and massive digital engagement.
Global FMCG retail is pegged at $4 trillion today, growing at a rate of just 4%, with signs of continuing sluggish performance in developed markets. On the other hand, total retail e-commerce is predicted to grow by 20% (combined annual growth rate) to become a $4 trillion market by 2020.
As the e-commerce channel expands, the future success of brands will be significantly affected by how successful they are online. As increasingly time poor consumers seek convenience and on-the-go purchases, online sales of FMCG will gain more importance.
Whether they’ve been infused with an early dose of the holiday spirit or trying to beat the throngs of holiday shoppers, 26% of consumers across North America said they had already started buying gifts for their loved ones in September.
We’ve gotten used to emphasizing the divide between digital and physical, but it’s quickly disappearing: when digital data about the physical world is comprehensive, real-time and freely available, the physical and digital augment each other.
When testing innovations, it’s risky to ask consumers to compare a new concept against an actual product that they currently purchase. This unbalances the entire evaluation by setting up an unfair comparison.
The world is increasingly complex, instrumented and virtual. There’s vast amounts of information about consumers and the factors that influence their behavior that simply didn’t exist in the data warehouse era. Here, we take a closer look at how all this data will affect retail when it comes together with recent technology trends.
Beyond in-store clinics and the traditional health care aisle of the store, a handful of departments should be top of mind for drug store retailers where more multicultural dollars are spent in comparison to non-Hispanic whites.
In North America, consumers are actively trying to incorporate more plant-based foods into their diets. This suggests that plant-based options appeal to significantly more people than just those who follow vegetarian and vegan diets.
Africa’s vast potential is the stuff of investors’ dreams, but capitalizing on that opportunity is less about identifying or quantifying prospects and more about execution stemming from knowledge, insights and data to enable on-the-ground success.
When it comes to protein, animal protein from meat, such as chicken, beef, turkey, pork and seafood, ranks first among North Americans, which aligns with the fact that consumers in both countries spend more than half of their protein dollars on animal protein.
Backed by improving global consumer confidence, many regions are seeing improved conditions for businesses and the fast-moving consumer goods industry. Here, we’ll look at trends in a few select countries.
As consumers continue to focus on their overall health and wellness, food and beverage products that are rich in protein have a unique opportunity to resonate with today’s shoppers and the retailers that stock them on their shelves.
For a long time, no one outside IT showed much interest in APIs, but MIT research shows that the most successful digital companies make above-average investments in APIs; these companies know that APIs are fundamental to their strategic success. Why do they think that?
With the advancements in big data, advertisers know more about consumers than ever before. And yet, they’re still challenged with how to drive the greatest return for their marketing budgets. And we all know what happens when executives don’t see the ROI they’re expecting—they cut budgets.
In contrast to the ongoing market challenges facing global fast-moving consumer goods (FMCG) manufacturers and retailers, consumers are in better spirits than they were at the end of 2016. In fact, global consumer confidence has risen three index points since the close of last year.
Unless you’ve been hiding under a rock for the last couple of years, you’re seeing the FMCG industry transform right in front of our eyes. That’s scary, but equally exciting. So here are three things big FMCG marketers need to do to win as the industry evolves.
Has the traditional planning process become obsolete? Many signs within the industry point to “yes.” So in order to succeed today, companies need to move to a new form of adaptive planning that is responsive to continuous market change.
Your kid tore his favorite pair of jeans and you need to know if your local store will be open after work so you can pick up a replacement pair. If only you had a personal shopper who could find out what time the store closes.
The variety and increasing scale of data, as well as the scope of activity it is meant to inform, demands a solution that goes well beyond a simple enterprise data warehouse. So what might that more robust solution look like?
As Canadians take charge of their health, increasing their water consumption is a guilt-free way to stay hydrated and energize the body. Staples like water give manufacturers and retailers an opportunity to partner with consumers in their quests for healthier lives.
Leading a healthy lifestyle is now top of mind for many consumers, but the approaches individuals take are as individual as the people themselves. A majority of Canadians have health on their minds, as more than two-thirds say they’re making conscious efforts to improve their health.
As retailers ramp up their health and wellness offerings, and the lines between channels blurs, it’s interesting to think about the role that drug stores will play in an increasingly crowded, wellness-oriented marketplace.
It’s no surprise that more and more items are being outfitted with built-in connectivity. Consumers’ adoption of internet-enabled devices isn’t a given, however, and it’s worth exploring why acceptance has been so fragmented across categories—as well as what the industry can do to accelerate usage.
How many things can you say for certain that you're paying attention to, or even seeing, at any given moment? Our brains just aren’t good at recalling the kinds of details marketers need to evaluate their efforts in a complex world. That’s where the right neuroscience tools can help.
Companies striving for “leaner, bigger, better” innovations require realistic marketing inputs and an accurate forecast to identify their most promising initiatives. Proving that “consumers love it” without a realistic volumetric assessment simply isn’t enough.
Global consumer confidence increased modestly in 2016, a time of great political and economic change around the world, rising three points between the first and fourth quarters to 101. Confidence scores finished the year more strongly than they began in every region except Africa/Middle East.
More and more consumers in Canada are becoming mobile payers, using their smartphone and tablet instead of a physical plastic card to make purchases or collect reward points. But are they using mobile wallets to do so?
Unconstrained by physical walls, e-commerce retailers offer a huge inventory of products in endless aisles. Unfortunately, our physical world product coding processes can’t scale to e-commerce: they’re too costly and too slow.
Smartphones are no longer just for keeping in touch and playing games. Today, consumers also use the technology at their fingertips to research, run price checks and read reviews for a growing array of products they use in their daily lives.
In addition to being hyper connected and digitally driven, Millennials are focused on personal experiences. And for many, those experiences happen away from home. Notably, Millennials are very interested in travel—and shopping along their journeys.
In addition to being hyper connected and digitally driven, Millennials are focused on personal experiences. And for many, those experiences happen away from home. Notably, Millennials are very interested in travel. In fact, they travel more than any other generation, including Baby Boomers.
Music consumption is at an all-time high. Overall volume is up 3% over 2016, fueled by a 76% increase in on-demand audio streams, enough to offset declines in sales and return a positive year for the business.
The premium sector is growing globally, and as it turns out, it isn’t ritzy categories like diamonds and champagne that are topping the charts. Rather, global consumers are most often willing to trade up for everyday consumables.
In the coming decades, machine learning will transform work as we know it. And unlike previous revolutions, which primarily affected blue-collar workers, the smart machine revolution has white-collar workers in its sights.
Around the world, consumers are looking for a taste of the good life. And it’s not just those who are wealthy. Sales of products in the “premium” tier are growing at a rapid pace. In fact, the growth of the premium sector in many markets is outpacing total growth for many fast-moving consumer goods categories.
This study identifies the attributes consumers are looking for in premium product offerings, and reveals the underlying sentiment behind the reasons for purchase. We explore what “premium” means to consumers, and we identify the categories for which they’re most willing to pay a higher price.
Consumers are faced with a dizzying array of retailers vying for their attention, and a retail loyalty program can be a determining factor for where they decide to shop. In fact, 72% of global respondents agree that, all other factors equal, they’ll buy from a retailer with a loyalty program over one without.
31% of Canadians say they plan to spend between $250 and $500 this year, followed by 24% who plan to spend $100 and $250, and 21% who plan to splurge on their friends and family by spending between $500 and $1,000.
When it comes to the most-valued loyalty-program benefits, monetary incentives top the list in every region. However, creating meaningful differentiation requires offering more than generic deals, and thinking beyond monetary perks can help brands stand out.
Most new product launches are “small” or “sustaining” innovations, which include the many, many brand extensions that large companies launch year after year. These launches are absolutely essential for growing existing brands and defending shelf space.
Nothing gets us in the holiday spirit quite like holiday music, and if you were in Edmonton, Canada, last holiday season, you were in the country’s merriest city. That’s because its radio stations played the most holiday music between Nov. 1 to Dec. 27, 2015.
Global consumers, by and large, have more shopping choices at their disposal than ever before. For retailers, differentiating your brand in such a crowded space is critical. A retail loyalty program can be an effective way to create competitive advantage by reducing customers’ likelihood to switch stores.
Done well, loyalty programs can help drive more frequent visits and heavier purchasing. More than seven in 10 global respondents (72%) agree that, all other factors equal, they’ll buy from a retailer with a loyalty program over one without.
Retail players have long believed that large-format stores will eventually take over the landscape, but today’s reality disproves the “bigger is always better” myth. Although large stores still account for 51% of global sales, smaller channels are growing sales up to eight times as fast their larger counterparts.
Third-quarter 2016 global consumer confidence remained stable at 99, up one point from the second quarter and unchanged from third-quarter 2015. Country-level scores, however, varied dramatically throughout the regions, reflecting considerable economic diversity around the world.
Consumers today are taking an active role in managing their health, which includes following proper nutrition guidelines to prevent and control health issues. These healthy attitudes are having an impact on food trends, providing Canadians with a multitude of options to help them achieve their goals.
Most of the customer data companies gather about innovation is structured to show correlations rather than causations. Yet after decades of watching great companies do poorly at innovation, we’ve come to the conclusion that the focus on correlation is taking firms in the wrong direction.
What causes a consumer to pull a product into their lives? Simply put, we bring a product into our lives because it meets a need or desire. That’s the crux of Jobs Theory: doing a job that needs to be done.
Among global respondents, 74% say they appreciate the freedom of being connected anywhere, anytime, and 70% strongly or somewhat agree that their mobile device has made their life better. This constant connectivity has not only changed the way we keep in touch, but also the way we shop, bank and pay for goods and services.