Each new day seems to bring more bad news about the economy. With uncertainty and fear looming, American consumers have cut back on their shopping trips and changed the way they spend their hard-earned money. For food retailers and consumer packaged goods manufacturers, these new trends do not necessarily spell doom. If they know how to address consumers' changing needs and can successfully engage them by appealing to their desire for value, significant opportunities remain.
Even though some analysts predict that the U.S. economy may have hit bottom and are cautiously optimistic, the changes we have seen in consumer behavior are likely to persist for the foreseeable future. Here are some ways grocery retailers and CPG manufacturers can leverage these trends:
"Today, perhaps more than ever before, retailers and CPG companies that understand consumers, product categories and channel activity at an increasingly granular level will be in a better position to deliver new solutions and drive success," said Todd Hale, Senior Vice President, Consumer & Shopper Insights at Nielsen.
Read the full article about insights and opportunities to grocers and CPG companies in Progressive Grocer.