International Monetary Fund (IMF) food and beverage commodity indices. For example, for 87 percent of consumers, clear labeling was a very important purchase driver for a given food product. Emily Bryson York, “Economy may benefit Kraft CEO: Brand offers value to consumers,”. The economy will likely continue to stagnate, and may give rise to increased income bifurcation, middling level of consumer confidence, and a struggling middle class. Deloitte Publishes Inaugural 2020 Global Marketing Trends Report: Identifies Seven Key Trends to Help C-suite Leaders Place Humans at the Center of Their Work Furthermore, almost 70 percent were more likely to buy brands that were actively communicating their commitment to food safety in a broader sense. She has spent 25 years serving clients and has extensive global experience, having implemented transformation programs in 17 countries. The analysis of social media conversations further highlights the importance of the expanded definition of food safety to consumers as well as sheer negativity around it when it comes to food brands. As you look at the many other categories that consumers are in, there are more and more customized features that are being offered every day.”30 The company is currently working to enhance the product’s personalization possibilities (for example, package sizes, flavors) and ordering features (for example, automatic replenishment); it is also testing a similar solution for cat food.31. “We can’t ignore structural changes in advertising and marketing. The consumers surveyed in January 2014 and January 2015 were screened to target consumers who did at least half of their household’s shopping and food preparation. World Economic Forum, “Global risks 2014, ninth edition,” 2014, http://reports.weforum.org/global-risks-2014/part-1-global-risks-2014-understanding-systemic-risks-in-a-changing-global-environment/. Pat Conroy, Rich Nanda, and Anupam Narula. We need to move beyond experimenting with direct-to-consumer storefronts, and develop a working online business model to drive growth.”—Packaged goods marketing executive Our third uncertainty posits an environment in which consumers completely immerse themselves within a digital world, and the traditional brick-and-mortar business model becomes less viable—or perhaps even irrelevant. The Tech Trends of 2021 aim to provide insights and inspiration for … See Terms of Use for more information. Prior to this role, Kim served as Consulting’s US Consumer Industry Leader. To help consumer product executives prepare for change and uncertainty, this article presents five potential “undercurrents” that may impact the consumer product industry in 2020—marketplace undercurrents whose exact direction and pace, while still unknown, can be broadly identified today—that companies should keep in mind as they try to chart a clear path to 2020 and beyond. It means considering moving from reactive, beyond responsive, to an intuitive enterprise that is continually sensing and shaping markets to redefine the frontiers.39 In many cases, consumer product executives know what to do, but their speed of execution and completeness of action may be insufficient (see figure 3). These seven trends can help build connection to drive engagement and growth for brands in 2020. The likely consequence: The lion’s share of consumer spend and activity—promotion, search, and procurement—will take place over digital channels. Discover Deloitte and learn more about our people and culture. USA Today, “Purina offering personalized dog food,” November 1, 2014, http://www.usatoday.com/story/money/business/2014/11/01/purina-offering-personalized-dog-food/18317543/. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. © 2020. SlantShack Jerky allows consumers to “Build-a-Jerky” online.22 The company initially allowed consumers to select either 100 percent grass-fed or USDA Choice beef.23 However, the company now offers only 100 percent grass-fed beef, and it includes customization options and subscription options for its products.24. The downward trend in profitability for both big and small players suggests the need to revisit the relevance of traditional R&D and innovation models. We have an obligation to financially strapped low- and middle-income families that drive America’s grocery sales.”18 Kraft has also recognized the steady growth in popularity of dollar stores and drugstores among lower-income consumers as part of their overall grocery shopping routine.19 The company has partnered with a dollar retailer in a promotional partnership to improve signage around and placement of the Kraft brand, and it has designed products—such as more affordable snack packs—specifically for the dollar and convenience channels.20, For many consumers, perceptions of health and wellness seem to be increasingly important influencers of buying decisions at the shelf. Here are the 10 key trends for 2020 (source: Deloitte): The social investor. Deloitte highlight device usage Smartphone ownership in Ireland saw a slight decrease for the second year in a row at 90% (compared to 91% in 2019 and 94% in 2018). 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