2020 brought about one challenge after another ever since COVID-19 became a global threat. Although most countries are recovering from the previous year’s aftermath, many industries are still struggling to recover. Thankfully, not all sectors are in danger of reduced profits.
The reinvigoration of the consumer packaged goods (CPG) industry was fast-tracked due to the coronavirus pandemic’s effect on consumer lifestyles. Most employment setups had to shift into home-based work environments, making CPG providers like Amazon and Walmart prime leaders for commerce. This led to many innovative market movements from the previous year, even in a post-pandemic economy.
Consumer demand in 2020 due to the pandemic
Because of COVID-19, consumer behavior experienced a massive shift toward online interactions. This prompted small businesses and large companies to prioritize digital transformation for integrated online engagement. Inquiries, searches, and purchases skyrocketed for consumer goods companies. It’s every CPG company’s benefit to know what affected these changes to implement them in their own marketing efforts and sales funnels.
In this article, we’ll share three CPG market trends that drove sales figures and growth during the pandemic.
1. Using omnichannel marketing strategies
Although consumers have particular patterns with online behavior, they’re generally unpredictable since they have more options in engaging with online spaces. It can be dangerous to assume that one target demographic merely exists in a niche network. For this reason, digital retailers must have an encompassing digital marketing plan.
Having omnichannel marketing strategies will give you more marketing channels for consumers to access. Besides using one sole social media platform, learn to branch out and target eCommerce networks to spread your reach to meet your demographic.
2. Invest in sustainability and authenticity
The threat of global warming and climate change is more apparent to a Millennial market. According to Acosta, over 73% of consumers are willing to switch to a more sustainable purchasing method to help the environment. Every generation moving forward will be extremely particular about a brand’s business practices, especially to efforts concerning sustainability and preserving the environment.
Consumers will be more willing to support a business that can showcase its authenticity in supporting and upholding sustainable work practices. You can highlight this through material choices, workplace protocols, charity, and partnership efforts with eco-friendly organizations.
3. Expanding your ordering channels
Besides enhancing your presence in multiple digital networks, it’s important to be more encompassing in providing purchasing options. Having strong ties in Amazon Prime, Walmart+, and other eCommerce platforms will make your products seem easier to purchase for current account holders.
Consumers will generally appeal to your products if you have online channels that are easily accessible for purchase. Since it will take a while before brick and mortar stores become the norm if at all, it’s best to invest your efforts in online transactions. There are even higher conversion rates down that online users can access through mobile apps. Think about reinvigorating your IT infrastructure to accommodate these digital additions if you don’t have them yet in your sales funnels.
Learning about previous market performance will give you pointers on what to expect from future consumer behavior. This is why it’s necessary to understand big data and monitor your own analytics to properly adjust your marketing efforts to match your demographic’s preferences. Thankfully, you can secure assistance from full-service digital marketing agencies to boost your marketing campaigns’ success.
The market is always changing to consider the economy and consumer interest, which is why it’s vital to always be on the lookout for the latest trends. C/C/G Marketing is a full-service content creation agency in Los Angeles with a creatively driven team that can strengthen your marketing efforts during these trying times. If you want to expand your consumer reach for CPG, contact us today!