How to Harness New Growth in CPG During 2021
No one could have possibly anticipated the changes that 2020 would bring or how those changes would impact the CPG industry. With the onset of COVID-19 and changing consumer behavior, the CPG industry saw unprecedented spikes in demand as consumers stocked up and/or migrated to certain categories and increased their at-home food spending.
The key factors driving this demand were the rise in COVID-19 cases, uncertainty around vaccine availability, and a volatile economic environment created by a very rapid decline into recession early in the pandemic and then a relatively swift economic recovery.
But what will happen in 2021? Now that we have been in this “new normal” due to the virus, what shifts in consumer demand can manufacturers and retailers expect next? How does this vary from category to category and channel to channel? And how will a widely available vaccine and its timing affect CPG growth and volatility?
During this webinar, experts from IRI and RBC Capital Markets answer these critical questions, discuss the most likely modeled scenarios and share how controllable factors can help CPG companies develop and fine-tune their strategies for next year to achieve increased sales and market share.
Nik Modi, Managing Director – Beverages, Tobacco and Household Personal Care, RBC Capital Markets
Krishnakumar (KK) Davey, President, Strategic Analytics, IRI