The IRI annual State of the Industry event held in Auckland this week has been an outstanding success. The event booked out well in advance with attendees coming from all areas of the New Zealand FMCG sector.
Auckland, New Zealand – 18 November 2020 – Craig Irwin, Managing Director for New Zealand and Hong Kong, with IRI®, a global leader in innovative solutions and services for consumer, retail and media companies, has thanked the New Zealand FMCG sector for its attendance of this year’s IRI State of the Industry event. The event booked out in advance with retailers and manufacturers keen to understand the challenges and opportunities ahead for the sector and access advice and tips on how to navigate the pathway forward. The event was chaired by Craig Irwin and included an expert-led panel of domestic and international leaders who covered the state of the FMCG industry in New Zealand, the impact of COVID and the way forward post the pandemic. The event was held at the Vodafone Events Centre in Auckland in front of some 900 attendees.
Craig Irwin: “The success of and demand for, this year’s event demonstrates the anxiety being felt across the New Zealand FMCG sector. There is no doubt that New Zealand has made incredible progress in almost eradicating the virus, however we recognise that this does not mean it will be a clear or easy path moving forward for businesses.
“Everyone in the sector realises that the economic fallout is certainly not over, as retailers and food manufacturing brands continue to grapple with the challenge of how to navigate through the pandemic and beyond.”
“Understandably, the sector needs guidance and insight into how to navigate through COVID to the other side and IRI is perfectly placed to do this. Being a global organisation, we are able to draw on statistics, trends and tactics being utilised with great success in other countries around the world. Our local insights are also second to none.
“We were able to share these insights with the New Zealand FMCG sector at the event. Our hope is that our expertise and knowledge will assist them to navigate the pathway forward. It might sound cliché, but the reality is that we are all in this together. At IRI, we are in a unique position to be able to help steer the industry through the pandemic and into clear skies moving forward.”
The IRI event was developed specifically for retailers and manufacturers in the FMCG sector and included IRI’s most up to date research and the perspectives of experts in the field.
Under the theme of ‘Future Forward’, the State of the Industry presentation focused on four key areas.
The impact of COVID-19 on the economy, consumers and their shopping behaviour. The panel worked through how consumer behaviour has transformed during COVID, from the way they shop, to their changing preferences. IRI covered the short and long term impacts including the accelerated take up of online shopping and the increased integration and use of technology in the buying decision process and actual shopping activity.
What the drop of one percent in New Zealand’s $96 billion retail market actually looks like in terms of consumer purchasing habits. The panel explored how pharmaceutical, grocery and convenience products are actually performing in this redefined market, and the innovations that are emerging across marketing, packaging and new product offerings.
The way Kiwis are spending their money in the disrupted environment. Consumers shopping more cost consciously is a growing trend, with price and promotions playing a significant role in brand choice. Home, health, wealth and purpose are featuring strongly as driving forces in New Zealand’s growing trends. The panel explored the increasing importance of value, self care, family joy, nutritious convenient snacks, and bringing out-of-home in-home.
Beyond the impact of COVID-19 how can the industry successfully navigate business into the future. The panel explored this issue in depth providing examples of the considerations needed to navigate a pathway forward. These included the health of consumers, understanding what is important for them in their home, the budget issues they are facing and the values driving their buying decisions.
A virtual version of the event will be available from 19 November 2020 on request.
About IRI: IRI is a leading provider of big data, predictive analytics and forward-looking insights that help CPG, OTC health care organisations, retailers, financial services and media companies grow their businesses. www.iriworldwide.com
Please contact Tess Sanders Lazarus for further information and interview opportunities.
Tess Sanders Lazarus
P 0432 978 174