After an industry altering year of events, it is more important than ever to consider the unlikely trends and shopping habits of 2021. As a result of increased online shopping, competing for consumer attention, loyalty, and dollars will prove to be more difficult than ever before. After 9 months of adapting to an environment influenced by restricted movement, the new year will require the CPG industry to pivot once more as the world reopens and people begin to shop differently yet again.
Personalization - Business articles are flooded with reports of increased omnichannel and eCommerce sales. While this will continue to hold true in 2021, brands will need to carefully consider looking beyond typical omnichannel approaches and progress into a personalized experience(s). Shoppers have come to expect the ability to order online, pick-up in store, and/or have items delivered to their front door almost instantaneously. In order to truly differentiate, retailers and suppliers will need to better leverage consumer shopping data, behaviors and insights and evaluate how to be predictive with consumer needs.
Sustainability- Corporate social responsibility will continue to rank high with millennial shoppers. Shoppers are overwhelmed at the digital shelf choices and use social and environmental efforts to narrow down options. Suppliers will need to focus on effectively communicating their message in a way that reads as genuine and of honest concern. What the public thinks of a company is increasingly important to the success of the business. Retailers, including Walmart, have begun increasing sustainability requirements and may begin taking suppliers ESG rating into consideration when making buying decisions.
Influencer Marketing—Marketing teams who have not yet embraced the use of social influencers will be forced to get onboard. While traditional social influencer campaigns include sponsored posts and photos, brands will need to push for more from their influencer partners. Audiences have more trust and loyalty of brands that showcase authentic voices. Brands and influencers cannot underestimate a viewer’s ability to detect ingenuity. A few ways to increase credibility include; live videos, TikToks, Reels, and stories. Working with an accredited agency to determine the best influencer partners could be one of the best marketing spends for a small to mid-sized supplier looking to grow their overall brand awareness.
While the rest of the world eagerly speculates what the new year will bring, now is the time to grow and build upon the lessons learned in the unprecedented times of 2020. The largely virtual environment has left consumers starved for personalization and simultaneously increased social, political, and environmental awareness. While it can certainly be overwhelming to manage current business, chase new opportunity, and adapt to consumer expectations having a strong team, broker partnerships, and agencies will be the key to success!
For any support or additional questions, please reach out to New Nexus Group or support@newnexusgroup.com and we can help successfully guide you on this journey.
