Today’s CPG retailers are facing a number of challenges. The rise of “just-in-time” shopping is driving the growth of smaller footprint stores, leaving retailers to search for more profitable business models. At the same time, store growth is mainly coming from increasing store count, e-commerce continues to grow in importance, and shoppers are spending their money across more channels and store formats.
Retailers that want to win must be able to personalize the experience for each shopper across the entire path to purchase. To do so, they will need to capture a total market view of customer spending, form collaborative relationships with suppliers to personalize offers and optimize marketing campaigns as they happen, as well as tap into critical touchpoints along the shopper journey to strengthen brand equity and enhance brand image.
IRI’s latest Times & Trends report demonstrates how retailers can use big data to know the shopper, keep pace with the consumer- and market-driven changes and maximize customer lifetime value to succeed in this evolving and increasingly complex marketplace.
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