IRI report shows how consumer packaged goods players can win by rethinking old market-sizing assumptions
American consumers no longer buy products based largely on category or brand, which has big implications for CPG brands as they seek new revenue opportunities. One way forward is for brands to use powerful framework tools to rethink old market-sizing assumptions, according to a new IRI marketing innovation report, ”Realigning for Growth: Win by Innovating across CPG Market Segments.”
IRI’s research reveals that consumers’ actual choices mean that old market positioning ideas no longer apply. Increasingly, shoppers decide what to put in their shopping carts based primarily on immediate or anticipated needs. They are guided by attributes, such as single-serve packaging, minimal calorie counts or gluten-free, for example. They willingly pay more for products that promise benefits, such as improved digestive health or a healthier heart.