Industries in Flux: State of CPG
The webinar discusses the current state of CPG(consumer packaged goods). For a little insight, the total U.S. CPG sales increased by 8.5 billion for two weeks ending March 21; which is 15X the average rate of change for a typical normal cycle. The impact of the CPG brands to behave in such a way is caused by the pandemic leading people in panic-buying, increase in online orders, and homemade meals. More statistics concerning CPG present just how impactful COVID-19 really is. For example, there is a 10% increase in beverage sales, 40% in-home care products, and a huge 206% growth for fresh meat alternatives. It important for businesses and companies to understand how digital advertising and media play when consumers behave in different ways. The information is still new and always evolving. In summary, consumer sales are valuable and brands need to start shifting brand messaging due to consumer trends.