Area of Engagement
Consumer packaged goods, or CPG, is a collective term for products that require frequent replacement when compared with other products that are used for extended periods. CPG represents a market that will always have a growing customer base, but it is highly competitive owing to the low consumer switching costs and high market saturation. A few examples of CPG companies include those who are involved in the manufacture and sale of clothing, household products, tobacco, and other such products.
Moreover, the growing ability of CPG companies to quickly adapt to the changing technological innovations to differentiate themselves in the market is often essential to success and driving brand growth. Leading CPG companies are increasingly developing newer and improvised strategies to execute traditional levers against a backdrop of a more stable worldwide economy.
Want to know more about our approach to shopper marketing analytics and how we help CPG companies to identify and adjust to the latest retail trends? Speak with our analytics experts today!
The Business Challenge
Company Description: A leading CPG company with several business units spread across the globe.
The client approached our team of customer analytics experts to help them improve client reach and drive sales across their business units. Growing competition from other CPG companies was a major concern for the client, as it resulted in a drop in sales, which, in turn, affected their profit margins.
Also, the client was looking at developing improvised strategies to better understand, target and change the behavior of specific shopper groups. As such, they were looking at leveraging Quantzig’s customer analytics solutions to improve returns through shopper marketing and trade promotion alignment.
The Solution and the Business Impact
Quantzig’s shopper marketing strategies enabled the CPG company to gain detailed insights into the customer’s shopping patterns and factors that drive shoppers to the outlets. It also helped them to devise effective strategies to align the customers’ needs and preferences with their trade promotion campaigns. Our solution also assisted them in capturing greater returns while offering a competitive advantage by closely aligning their trade promotion activities with shopper marketing initiatives.
Moreover, the shopper marketing analytics solution offered by the customer analytics experts at Quantzig enabled them to keep track of current market trends. Also, this engagement assisted the client in enhancing offerings by focusing on the touchpoints encountered by a consumer along his/her path to purchase.
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Shopper Marketing Solution Predictive Insights
Shopper marketing is increasingly emerging as a prevalent theme on the agendas of leading retail and CPG companies across the globe. It has now evolved from a tactical function to an enabler of growth for several CPG companies.
Quantzig’s shopper marketing analytics enable the clients to develop strategies to engage and empower customers. It is designed to enhance the overall shopping experience of a client, which, in turn, helps CPG companies to drive sales.
Latest industry trends benefitting CPG companies:
- Product innovations – Leading CPG companies have traditionally looked at product innovation as a source of growth and will continue to do so in the coming years. Also, the positive response to product innovations has prompted CPG industry firms to adopt an agile approach to designing, developing, and testing iterative ideas.
- Digitization – CPG companies are focusing on aligning new technological innovations in productive and creative ways to influence the consumers’ path to purchase and optimize customer engagement.
- The rise of globalization- Leading CPG companies are striving hard to drive strategic benefits and capitalize on the growth in emerging markets. These firms are also seeking opportunities to partner with organizations to gain access to consumers, leverage market solutions, and access sources of raw material.