Trend analysis highlights growth opportunities across retail channels
Grocery’s above-average year-over-year performance does mark a change for the CPG industry.
To gain a clear understanding of the rapidly changing consumer packaged goods (CPG) marketplace and the latest growth opportunities, IRI, Chicago, took a closer look at how consumers’ shopping patterns as well as emerging marketing programs are impacting retail channel trends in its granular analysis, “IRI Channel Performance Report.”
“It is becoming harder and harder to find growth opportunities in the CPG marketplace,” says Susan Viamari, vice president of thought leadership. “The path to purchase has forever changed. Shoppers are becoming increasingly demanding and embracing an omni-channel environment. And, they are funneling their spending to channels and retail banners that best deliver on their expectations. That’s why it is imperative for retailers and manufacturers alike to have a clear perspective on which channels and departments are performing well, so they can figure out which white-space opportunities will lead to growth.”
Grocery sales outperformed, yet remained flat
During the past year, CPG industry sales topped $760 billion. The grocery channel accounted for 41% of dollar sales and 51% of unit sales, and despite being flat, outperformed competing channels for the year.