March 22, 2023
(press release)
–
Don Unser and Marshal Cohen discuss the importance of looking across aisles and beyond industry lines at Growth Summit 2023 CHICAGO, March 20, 2023 – Consumer demand is declining across nearly every U.S. discretionary general merchandise and consumer packaged goods (CPG) industry, even as elevated prices recede from peak levels. At the Growth Summit 2023, presented by Circana, formerly IRI and The NPD Group, Don Unser and Marshal Cohen look below the surface of current retail performance in this $2.9 trillion market, exploring the possibilities for repositioning retail in the year ahead. “Consumers have developed a different way of thinking about their purchases as their spending power deteriorated,” said Don Unser president of thought leadership at Circana. “The need to get more for their money will chip away the consumer’s loyalty as they explore new avenues for more perceived value. It’s up to brands and retailers to be ready to welcome them.” “Consumers are making conscious changes to when, where, how, and what they purchase, making it more important to look at a complete view of consumer spending, across aisles and beyond your own industry,” said Marshal Cohen, chief industry advisor for Circana. “Opportunities exist, even in a challenging retail environment, but marketers must learn from the consumer’s previous behavior to create demand, not just look to replicate it.” 516-625-2356 Indicators of change to learn from
Stay current in your industry
Press Contact
janine.marshall@npd.com
The NPD Group
900 West Shore Road
Port Washington, NY 11050
* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.