PF Exclusive: 'Home-Centric' Times Offer Opportunities for CPG Manufacturers
Economic woes find American consumers turning to their own homes for everything from dining to entertainment. However, consumers’ new home-centric behaviors are creating new opportunities for consumer packaged goods (CPG) manufacturers, according to Krista Faron, senior analyst for Mintel International Group LLC, Chicago.
“The home really does take on new relevance in times of uncertainty,” Faron said in a March 24 breakout session during the Information Resources Inc. (IRI) Reinventing CPG and Retail Summit: Insights to Impact in Las Vegas. Manufacturers that help consumers to focus on “experiences over materialism,” to indulge their hobbies and interests in “more intimate, cost-effective ways,” and to reconnect with friends and family have the best chance for success going forward.