New areas of growth crop up in the U.S. consumer packaged goods (CPG) industry all of the time, opening up new opportunities for all manufacturers, especially new and emerging brands. But as more companies enter the market, the competition becomes more fierce and makes it increasingly more difficult for niche brands like yours to stand out. So, how can you ensure that your business is getting the most out of a CPG industry that generates $799.8 billion in just U.S. brick-and-mortar sales annually?
The barriers to entering the CPG market are lower than ever through thanks to the power of digital search and social media. Before the digital revolution, CPG companies had to secure the help of investors and spend a small fortune to help market their products. While this sometimes can still be the case, the reality is that smaller brands are now able to gain a foothold in the marketplace simply by understanding how their prospective customers search for products like theirs. In the last decade especially, the power has shifted to consumers, making it easier than ever before for them to search for what they want, when they want it.
So what does this mean for you as a CPG manufacturer? It means you can’t afford to miss any piece of the competitive puzzle when navigating today’s complex CPG landscape. Today’s market is saturated with “exciting” and “unique” products. And category and channel lines continue to blur, which means you need to think smarter and more creatively about who your competitors are and where your growth opportunities lie. Without holistic CPG data trends, you’ll never know where the next burst of explosive growth will come from—whether it’s meal kits, snack combos or something new.
The good news for small to mid-sized CPG manufacturers like you is that social media apps and other discovery platforms let consumers discover new brands with a simple tap of a screen, levelling the playing field for up-and-coming manufacturers, enabling them to compete with larger, traditional brands.
Consumers are more accessible to be marketed to by companies like yours. Once you’ve captured their attention, you need to know how to win over your retailer. This is a process that requires market sizing data, but you need to know the right way to use this data so you can take home a larger slice of the $799.9 billion pie. From asking retailers for data early on to sharing data with your retail buyers in a way they understand, it’s important to know how to use data to gain market share.
Staying current with where pockets of growth are forming in the U.S. CPG market and knowing how to use CPG market data to your competitive advantage is the winning recipe for driving growth.
Learn how by downloading our “Using CPG Market Sizing Data to Capitalize on Growth” infographic below.