Realigning for Growth: Win by Innovating across CPG Market Segments
American consumers no longer buy based largely on category or brand. They decide what to put in their shopping carts based primarily on immediate or anticipated needs, and secondarily on brands that meet those needs at the price points they are comfortable with. These days, they are guided by attributes such as single-serve packaging, minimal calorie counts, high protein, or gluten-free.
CPG companies that recognize this new reality can open doors to substantial revenue gains. In the beverage sector, one brand was able to identify an incremental market worth an extra $200 million a year by repositioning its products to span multiple categories and compete with multiple product types.
To help CPG marketers pinpoint such pockets of growth – and to spot white-space innovation opportunities – IRI can enlist its powerful Hendry Market Structure software. This proprietary solution – integrating IRI’s big-data capabilities and analytic expertise – gives marketers a 360-degree view of the new, benefits-driven marketplace.
Click here to read IRI’s Point of View, “Realigning for Growth: Win by Innovating across CPG Market Segments,” to see how the Hendry framework can help CPG marketers boost revenue streams by repositioning their products across traditional market categories.
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