Why are brands losing shelf space? Discover how to tap into a growing shopper demographic, optimize for profitability, prep for new launches and listen to our latest inspiring CPG story.
Starting with this edition of CPGenius News, we're changing the format up a bit to cover the topics you care most about as CPG brand executives and owners. This month, we look at trends in the grocery aisle that could be affecting your business - from the rise of a key shopper demographicto more brands losing shelf space. We dive into a new, must-know trend to help accelerate better business decisions and essential tips for product or store launches in the first 30, 60 and 90 days. And finally, we can't leave you without another inspiring CPG story. Let's go! 🔥
Brands are losing shelf space. Why?
Many factors contributing to this trend are explored in a recent Inc. article, from increasing pressure to deliver higher sales velocities to retailers' desire to narrow choices for fatigued shoppers (brands are also trimming SKUs in response). One thing is for sure, though - the era of launching a brand like a Silicon Valley startup - focusing purely on growth without regard to profitability - is effectively over, and the tightened capital market being felt by many brands is a result. Today, CPG companies face an uphill battle to maintain their retail presence and secure valuable shelf space. We've seen this trend develop throughout 2024 and are here to help brands refocus, gain better visibility into their business, and build a path to profitability.
Recent research indicates that Hispanic households are fueling 16% of total U.S. CPG growth. Despite representing 14% of U.S. households, they have outpaced non-Hispanic counterparts in both dollar (3.5% vs. 2.6%) and unit (1.7% vs. -0.3%) sales growth over the past year.
How is your brand doing with Hispanic shoppers? And did you know that Promomash provides reporting that helps you answer that exact question? Read more about it on LinkedIn.
It's Time for Real-Time TPM
Many CPG brands, feeling they have no other choice, rely on spreadsheets and dated, unorganized data to manage trade. This inevitably holds back decision-making and hinders agility. But all that is now a thing of the past thanks to what we call real-time TPM: in-depth trade promotion and performance insights that incorporate real-time sales and shipment data. This combination allows brands to make data-driven decisions faster and proactively optimize for profitability and ROI. And it's becoming essential to stay competitive in today’s fast-paced CPG market. Read more.
Essential Launch Tips: First 90 Days
Launching a new CPG product or retailer? In the latest Foodbevy Startup to Scale podcast, our own Tate Glasgow and Harrai Khalsa share essential tips and strategies from pre-launch to the first 30, 60, and 90 days post-launch. Covering everything from driving foot traffic to tracking KPIs, this episode is packed with knowledge to help brands achieve a strong start. Listen to the full podcast.
CPG Story: From Grounds to Greatness
After a decent break, The 7 Hats Podcast returns with the inspiring story of Sam Madani and BOMANI. Sam shares his journey of resilience, self-care, and growth as he builds a ground-breaking (pun intended) alcoholic coffee business. Discover how his immigrant roots, family support, and co-founder relationships drive his success in the competitive beverage industry. Listen to the full podcast.
