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Circana’s Growth Insights podcast series delves into the data to reveal consumer, shopper, and other insights that fuel market changes and growth for those in the CPG, retail, health care and media industries. Join Circana thought leaders, industry partners and guests to learn how opportunities, trends and market disruptions will impact your business.
Episodes
Monday Nov 28, 2022
In-store Bakery Is Back
Monday Nov 28, 2022
Monday Nov 28, 2022
While the bakery aisle performed well throughout the pandemic, in-store bakeries took a major hit. But now they’re back. To fight inflation, consumers are biting into more permissible treats, celebratory cakes, and specialty breads and rolls to elevate meals at home. The biggest winners are products that support the morning daypart. Still, guest Melissa Altobelli, principal, client insights with IRI’s bakery vertical, says in-store bakeries should seek inspiration from what’s happening outside the store.
Highlights
- High inflation is causing more consumers to trade down from restaurants and coffee shops to baked goods found at retail, especially for the morning meal.
- While not the largest share of e-commerce, donuts and pastries are the fastest-growing subcategory.
- Younger consumers are looking for adventure from their food. Retail bakery can answer the call with whimsy and fun, including colored or cereal-flavored bagels.
Tuesday Nov 15, 2022
Fresh Pulse: Meal Making and Mood Lifting
Tuesday Nov 15, 2022
Tuesday Nov 15, 2022
Inflation is driving us back to CPG retail for food-at-home solutions. But even as shoppers seek to save, they’re still finding ways to elevate their meals and their mood with affordable indulgences. IRI’s fresh expert Jonna Parker, principal of IRI’s Fresh Center of Excellence, and Anne-Marie Roerink, president of research company 210 Analytics, share new behaviors and strategies for connecting with shoppers.
Highlights
- In most channels, fresh is one of the few categories where shoppers typically purchase only as much as they need. Yet club and mass channels offer the allure of volume discounts from larger pack sizes, pointing to a bifurcation of the marketplace.
- Inspired by social media, consumers are still turning to deli-prepared platters and charcuterie boards for meal and entertaining solutions. These options give retailers and manufacturers an opportunity to connect with shoppers, especially younger ones, where they’re already engaged.
- Consumers are still looking for small indulgences during periods of high inflation, often to lift their spirits. Retailers can help with unique, premium, yet still affordable products.
Wednesday Nov 09, 2022
Forecasting with Confidence
Wednesday Nov 09, 2022
Wednesday Nov 09, 2022
Gone are the days of forecasting for the year ahead. Spurred by the chaos of the pandemic and ongoing market uncertainty, CPG manufacturers and retailers must continually monitor the marketplace, weighing decisions against consumer behavior, macroeconomic factors and business strategies. Nagi Jonnalagadda, senior vice president, Global Products & Solutions at IRI, recommends companies change their approach to forecasts from point-in-time planning to scenarios with varying levels of confidence.
Highlights
- Consumers are proving to be more resilient to dramatic price increases than expected. But they’re now starting to change their shopping behaviors to manage inflation.
- Forecasts should be considered scenarios with confidence intervals, with broad upsides and downsides and an agile approach as scenarios evolve.
- Forecasting is now a blend of art and science with new tools and unlimited data inputs. The art is shutting out the noise to identify and monitor the right demand signals, focusing on what matters most to your business.
Wednesday Oct 26, 2022
A Thanksgiving Outlook
Wednesday Oct 26, 2022
Wednesday Oct 26, 2022
Will high food inflation take the stuffing out of Thanksgiving celebrations? Darren Seifer, executive director and industry analyst for food and beverage at NPD (which recently merged with IRI), shares an outlook on potential scenarios for Thanksgiving meals this year.
Highlights
- More consumers will shop early for nonperishable items to find the best deals and spread out the cost of the Thanksgiving feast.
- Shoppers are more cost-conscious than last Thanksgiving given inflation and will look for deals. But they will also remain willing to splurge on the relative value of an important home meal and festive get-together with loved ones.
- Some cash-strapped consumers will still host but keep costs in check by making smaller portions for fewer leftovers, or even turn the event into a potluck.
- Restaurants and grocers can play a role in the holiday meal by offering time-saving items like freshly made pies and ready-to-heat sides.
Wednesday Oct 19, 2022
The Shifting Protein Landscape
Wednesday Oct 19, 2022
Wednesday Oct 19, 2022
Inflation, animal welfare issues and new generational preferences are all affecting the sales of various fresh meat and poultry products. Chris Dubois, executive vice president of IRI’s protein practice, provides insights into surprising winning products, offers a detailed industry outlook, and shares opportunities to connect with younger shoppers.
HIGHLIGHTS
- Recent price increases for fresh meat and poultry don’t seem as extreme as other areas of the grocery store, but prices are much higher than a few years ago.
- Protein producers have been facing supply threats dues to avian flu (poultry) and African swine fever (pork).
- Millennials have different food preferences than older generations, buying far less veal and more chicken, ground turkey, oat milk and nut butters.
Friday Sep 23, 2022
The Sustainability Growth Opportunity
Friday Sep 23, 2022
Friday Sep 23, 2022
Sustainability-marketed products are driving outsized growth. They represent just 17% of CPG products but are driving a 32% share of market growth. Featured guest Randi Kronthal-Sacco, Sr. Research Scholar at NYU’s Stern Center for Sustainable Business, talks about IRI-NYU CSB research and shares additional opportunities for sustainable CPG success.
Tuesday Sep 06, 2022
The Customer is Key in Multicultural Marketing
Tuesday Sep 06, 2022
Tuesday Sep 06, 2022
Intersectionality acknowledges our personal experiences, from race and sexual orientation to where we live, our interests and our abilities. Gregory Curtis Jr., director of Emerging Media and Influencer Marketing at IRI, talks about the magic that happens when we put the customer at the center of marketing messages and how that works as the solid base for multicultural marketing success. Learn how to apply Greg’s six key elements in your next campaign.
Wednesday Aug 24, 2022
Private Brands in an Inflationary Period
Wednesday Aug 24, 2022
Wednesday Aug 24, 2022
Consumers haven’t turned to private label as a cost savings measure in our current inflationary period to the degree they did during the Great Recession. IRI’s Mary Ellen Lynch, principal, Center Store Solutions, discusses where the private brand wins are occurring and strategies different retailers employ to connect with shoppers.
Monday Aug 15, 2022
Beverage Alcohol Trends and Outlook
Monday Aug 15, 2022
Monday Aug 15, 2022
Compared to other categories, beverage alcohol has been more insulated from inflationary pressures, so while value options will do well during periods of high inflation, consumers will still seek premium options. Scott Scanlon, executive vice president of IRI’s Beverage Alcohol Vertical, weighs in on headwinds and tailwinds for beverage alcohol and opportunities for growth, including better-for-you, RTD cocktails and the convergence of alcohol and non-alcohol.
Thursday Aug 11, 2022
The Silver Lining of CPG Inflation
Thursday Aug 11, 2022
Thursday Aug 11, 2022
Look no further than the four Ps – price, promotions, positioning, pack architecture – plus innovation to fight back against inflation in the short and long term. Ray Florio, a partner in IRI’s Growth Consulting practice, shares strategies for profitable growth based on what the shopper values most amid current economic challenges.