Tech as a Compass in Today’s Consumer Goods Storm
SALES & MARKETING REPORT 2020
By Alarice Rajagopal & Lisa Johnston
“You can set a generation’s perception of your brand within a matter of weeks or months.”
Dr. Jason Chambers
Advertising Professor, University of Illinois
A brand’s voice has never been more influential or demanded or studied; as consumer goods companies reconcile past moves with future purpose, today’s marketers find themselves in uncharted waters during a hurricane.
Consumer behavior has been upended by the pandemic, promotion strategies need to be rewritten on the fly, and brands must market during a moment when customers are no longer content with simply doing good — they must do better.
With commitments and demands for more diversity and inclusion threading throughout the industry, one thing has become unquestioned: What a brand presents on the shelf, what it did to get it there, and how that’s communicated are all important to its employees and consumers.
For many, the pandemic simply kicked back-burner plans to the front of the line. Coca-Cola restructured its marketing organization, while Mondelez International is pressing forward with new digital investment strategies. And while stronger retail relationships have always been on a brand’s wish list, new consumer behavior and demands make this an imperative.
Walking the line between experimentation and resolve is not for the faint-hearted, and brands must tread with finesse. As such, many are leaning on data, analytics and technology to guide their paths toward meaningful change and best position themselves for success on the other side of the health crisis.
Read on to learn how CGs are evolving their sales and marketing techniques and technologies in order to adapt, grow and do everything better.
Because of the Pandemic...
New brands accounted for in consumers’ shopping carts at checkout
Consumers made purchases from “brands that were new to them”
Packaged goods and beverages
Household care products
Fresh and organic foods
Personal care products
Product categories with the highest trial rate for new brands
These categories are home to brands including:
Source: MIT Sloan Management Review, “Growth Opportunities for Brands During the COVID-19 Crisis”