Here’s our 2018 summary of the Consumer Analyst Group NY conference, which took place in February and hosted the leading North American, and global, consumer goods companies – F&B, personal care, household goods, OTC, ingredients and more.
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We analysed all of the participants’ presentations and conference calls, selected 450 slides and quotes, and turned those into a ~35 slides presentation, featuring selected statistics, case studies and examples by the world’s leading companies.
This year, companies discussed the following strategies and trends:
- Channel Diversification – the need for an omni-channel strategy in a multiple-channel world, and the growth of convenience, discount and digital commerce.
- Demographic Changes – specifically, how Millennials and Gen Z consumers use digital and social media, and how their values drive change in health and wellness and social responsibility.
- Digital Technology – an enabler and driver of tremendous changes in the industry.
- Emerging Economies – driving growth through new markets, using different value propositions.
- Health and Wellness: “clean label”, positive / mindful nutrition, gut health and more
- Snacking: a huge trend – most companies discussed their strategy for adapting to the new “mini meals” and “on the go” consumption reality, whether through brand extensions or M&A
- Premiumization: in many markets, consumers appreciate quality, authenticity and ethics and are prepared to pay a premium price for those.
- Ethics and Authenticity
- Companies discussed current and future plans to partner with, acquire, invest in, or build, brands that are positioned to respond to future brands. Corporate VCs / incubators are increasingly popular, as well as “venture brands” that are aimed at providing companies with insights, rather than becoming the next $1bn brand.
- Innovation is still focused on power/ core brands, many of which received a strategic makeover and/or a local adaptation.
- The new retail reality (or: “We’re all in the same boat”) presents more retailer-CPGs collaborations than in the past. Companies are tailoring their proposition to the channel and shopping opportunity (after what seems like a few years of decrease in “shopper marketing” attention).
- Digital commerce was, finally, the hottest subject (we’ve been complaining about the lack of e-commerce strategy since 2016). The accumulated data, trials and errors, pay off for companies and most reported impressive growth in the segment. Health and wellness consumers are strong e-com shoppers, a fact which companies follow up on.
View: CAGNY 2018 Strategy, Trends & Innovations in Consumer Goods
Our database holds dozens of other successful innovations, strategies, and case studies from this conference (and thousands of examples in general). Please contact us if you would like to know more about any of the trends that are changing your industry.