When it Comes to Searching for FMCG Growth, Product Attributes Show the Way
Knowing which lever to pull to attract, engage and maintain customers has never been more challenging—and that’s likely not going to change. With product variety, access to technology and instant gratification becoming ubiquitous, the fast-moving consumer goods (FMCG) market is facing notable growth headwinds—especially when you look at opportunity with too large of a lens.
Across traditional U.S. retail, we see that revenue growth wasn’t able to hit half a percent last year. And revenue growth was just 1% in 2016, down almost 150% from 2015, when revenue growth came in at 2.4%. Looking ahead, growth will remain elusive: Our 2020 forecast highlights a 1% revenue drop for the grocery, drug and mass merchandise channels.
The combination of access to information and consumer desires for products that meet their specific needs and desires will drive consumption going forward, which means FMCG manufacturers and retailers will need to stay focused on attributes rather than broad categories. Nielsen – Read more…