The following is the Us CpG spending increases by 19% in 2020 From NCS recommended by recordtrend.com. And this article belongs to the classification: Consumer research, network marketing.
Consumer spending on packaged goods (CPG) is up an average of 19% in 2020, as consumers stayed at home most of last year, according to the latest data from ncsolutions, a consumer consulting firm. The covid-19 pandemic will lead to a significant change in CpG buying habits in 2020. According to a new consumer survey of more than 2000 adults conducted by NCS, nearly half (47%) of Americans tried new brands and categories during the pandemic. Consumers are most willing to try new leisure food brands, with 52% of consumers saying that they are most likely to explore this category. After snacks, consumers were most willing to try drinks (44%) and cleaning products (43%). The increase of CpG expenditure and the openness of consumers to new brands provide new opportunities for brands. Since the beginning of the big wave, there have been some new trends in brand loyalty: consumers are more likely to buy their favorite brands than before the big wave, but they are also more willing to try new brands. Some brands are doubling their appeal to the most loyal and up-to-date buyers, focusing on retaining these people, enhancing their loyalty, and preventing them from getting lost in competing brands.
When asked about their diet plans, some Americans feel monotonous about their current eating habits. 34% eat the same food regularly, 13% are tired of their current diet choices, and 36% seek new ideas. In order to make their daily life more exciting, 41% of Americans are willing to try new recipes and products. Among those seeking a new diet, this openness expanded to two-thirds (67%).
Price (54%), free samples (43%), quality (36%) and recommendation from family or friends (36%) are the main factors to stimulate consumers to try new brands.
At the same time, consumers remain loyal to the old brand. Compared with before the pandemic, Americans are more willing to buy their favorite brands. 31% of consumers claim that their grocery list has not changed, 22% of consumers buy their usual brands, and 18% of consumers say that they will resume buying once the shelves are restored. This proves the importance of serving loyal buyers.
According to the latest NCS data, compared with November, consumer spending on packaged goods increased significantly (20%) in December, with a year-on-year increase of 16%. The increase in spending is due to consumers increasing their spending on each purchase in the weeks before the winter holidays when they prepare for the celebration.
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