I have read some articles recently about CPG manufacturers posting profit declines.
How can this be the case? With a slippery economy and consumers not spending money eating out, one would expect grocers and CPG manufacturers like ConAgra to be raking it in….Not the case, grocery retailers private labels are increasingly becoming the cost effective choice for the money conscious consumer and without strategic strategies, especially household level targeting, profit declines are eminent.
CPG firms across the US are seeking better information on who, where, and the value of their Best Consumers and responding accordingly with new strategies targeted at specific consumer segments by product category, by retail store location, therefore staying at the leading edge of consumer behaviors and expenditures. Understanding the impact of Private label brands is only possible with the right kind of household level data, and without it, profit declines will continue.