Opportunity for change in CPG brands after COVID-19’s Impact

Source: fooddive.com

The pandemic has created both challenges and opportunities in the consumer-packaged goods sector. As COVID-19 impacts shopping behavior, CPG brands must re-evaluate their marketing strategies. Some changes to their strategies could be to take factors like shorter purchase cycles, fewer store visits, and changes in high-spend shopping days into consideration.

In the early stages of COVID-19, consumers bought new products and even tried new brands, due to variables like insufficient inventory. By this precedent, brands with a loyal consumer base must deliver value-based advertising to their loyal consumers in the coming months.

However, such brands also stand a chance to attract new consumers, as changes in CPG purchasing habits are driven by the pandemic. Brands now have an opportunity to change their market position and acquire new consumers for the long-term.

COVID-19 has drastically impacted consumer shopping behavior and consumption habits globally – in every one of the 17 markets examined in the YouGov study, a plurality of consumers say that their shopping habits have changed over the course of the pandemic. New research from YouGov’s ‘International CPG report 2021: Consumer goods in a crisis’ provides a high-level analysis of consumers’ attitudes to fast moving/consumer packaged goods across 17 global markets. The white paper is based on more than 18,000 interviews and explores how the COVID-19 crisis has affected the CPG sector worldwide across a range of categories. The categories include: grocery shopping habits, online grocery delivery services, food consumption, personal care product consumption, home cleaning product consumption, shopping local and sustainability, and more. Find out which of these CPG categories have prospered or suffered as a result and take away key insights around consumer intention as we explore what the future has in store for the sector.