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…
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…
In response to the devaluation of the Egyptian pound and concerns over inflation, the IMF downgraded its GDP growth projection for the country to 3.6% in 2024, while also raising its inflation forecast for Egypt to 32.2% in the same year. Additionally, according to CAPMAS (Central Agency for Public Mobilization and Statistics), Egypt’s inflation rate…
According to OECD (Organization for Economic Co-operation and Development), the global economy is predicted to have slow growth. Even though it was expected to expand by 3.0% in 2023, it’s then expected to slow down further to 2.7% in 2024. As the globe is still experiencing pressure from price inflation caused by many economic…
In today’s competitive market, consumers are constantly making purchasing decisions. As a marketing manager, understanding your consumer insights is crucial for enhancing their perception of quality and evoking an emotional response to buy your product. So how can you do that? This is where the concept of “Psychological Pricing” comes into play. By strategically leveraging…
In the CPG world, managerial decisions shape markets. Success requires understanding cognitive biases, and adapting 2024 strategies accordingly, which leads to elevating brand engagement, optimizing product placement, and driving revenue. Notably, a 2023 study by the American Marketing Association found that integrating cognitive biases resulted in a remarkable 37% boost in conversion rates. (Linchpin…
The implementation of the price pack architecture approach is anticipated to result in an additional approximately $50 million in sales and around $15 million in EBIT (L.E.K.) So, why implement Price Pack Architecture? Integral to the framework of revenue growth management, Price Pack Architecture (PPA) stands as a strategic cornerstone. Operating with an analytical mindset,…