Wednesday March 9, 2011
Category Growth Presents Opportunities
Chicago — The coming year presents opportunities for candy and snack retailers and marketers, according to SymphonyIRI Group, Inc.’s Times and Trends report, which noted category growth in 2010.
Chocolate candy sales grew 4.9 percent, and salty snack sales grew 2.9 percent in 2010, according to the research. Factors such as home-based eating and drinking are driving CPG growth, the report shares, with center-store unit sales rising 1.6 percent.
To effectively compete in the unpredictable economy, retailers should identify opportunities and risks of serving microsegments; evaluate pricing, promotion and merchandising strategies; explore opportunities to enhance the product assortment; and develop strategies, according to SymphonyIRI.
While consumers will continue to spend conservatively, SymphonyIRI expects the coming year will present opportunities for marketers to boost their understanding of nuances associated with trends, which they can use to communicate with shoppers using online, print, smartphone, and social media marketing.