As the holiday season approaches, FMCG businesses are gearing up to make the most of the festive cheer. One crucial aspect that can significantly impact a company’s success during Christmas is smart pricing. This article explores how market research can empower brands to make informed pricing decisions that maximize profits and attract customers during the…
Today, in the VUCA world, Western Europe tackled supply chain disruptions, prompting consumers to focus on essentials, while Eastern Europe saw a 4% decline in FMCG sales in 2022, driving private label growth amid rising inflation (FMCG pulse by NIQ). Therefore, Fast-Moving Consumer Goods (FMCG) companies should navigate these challenges with innovative strategies to…
Gone are the days when a ‘one size fits all’ approach could guarantee success. Instead, FMCG companies need to embrace data-driven strategies that cater to the unique needs and expectations of individual customers. Thus, as Emily Oster, economics professor at Brown University, said, “The key to good decision making is evaluating the available information—the data—and…
In 2022, consumers made purchases totaling approximately $9.12 billion on Black Friday. This year, sales are anticipated to reach $9.8 billion (DemandSage). So, as the buzz of Black Friday approaches, the traditional playbook of discounts and deals is no longer enough to stand out in the bustling retail arena. For Fast-Moving Consumer Goods (FMCG) businesses, the…
In the pursuit of becoming a data-driven company, brands strive to utilize consumer insights as a crucial tool for making informed decisions. Additionally, in 2022, Adobe Analytics reported a 2.3% increase in shopper spending compared to the previous year. This growth is anticipated to persist in 2023. Therefore, as the Black Friday frenzy approaches, the…
Black Friday is a valuable promotion season for brands and retailers, as holiday sales reached a record-breaking $936.3 billion in 2022, according to The National Retail Federation. So, as Black Friday approaches, leveraging real-time insights can give businesses a competitive advantage, to help brands in adjusting promotions, while responding quickly to market dynamics, enhancing the…
40% of Generation Z consumers begin preparing for Black Friday a minimum of two weeks before (Doofinder). So, It is time to set your plan as a business decision-maker to be ready. On this day, businesses typically hone their focus on short-term objectives which are mainly: Clearing stock Quick sales boosts However, the…
Data has emerged as a game-changer in the business world, and for FMCG companies. Therefore, leveraging data-driven insights is crucial for shaping a successful pricing strategy. According to a report by Ascend2, 45% of marketers already have a strategy in place for unified marketing data, highlighting the growing recognition of data’s impact. Thus, in…