CPG retail is feeling the impact of tumbling consumer confidence. Ongoing inflation and anticipation of a recession have consumers pulling back on stock-up trips and instead shifting to quick trips and sticking to their shopping lists. In this Fresh Pulse episode, Jonna Parker, principal, Fresh Center of Excellence at Circana and Anne-Marie Roerink, president of 210 Analytics, share proven strategies that inspire shoppers and drive loyalty.
- 40% of shoppers report combatting inflation by stretching meals and minimizing waste. Produce benefits from quick trips, as consumers buy only what they need and consume what they have. With produce considered essential, retailers should hone their EDLP strategies.
- Retailers don’t have to “own” the entire meal. Fresh items can complement both convenience items or meal components sourced from foodservice.
- With promotions still down compared to pre-pandemic, retailers should leverage their digital assets, including coupons, social media and QR codes, to make recommendations for shoppers.