The Consumer Packaged Goods (CPG) Industry has faced many challenges over the years–strong economic pressure, the increasing number of private labels and store brands, and the growth of e-commerce offering consumers the ability to locate better deals online with the click of a finger. This, in addition to the inability to keep up with changing consumer expectations, has contributed to the decline of loyalty to national brands across most product categories since 2010, despite major investments in advertising and promotions.
CPG brands are realizing they can no longer build strong, profitable relationships with customers by relying on traditional avenues alone. Today’s shopper showrooms in-store and via their mobile device, seeks recommendations from friends on social media, checks user reviews online, and uses real-time price-tracking apps before making purchases. For marketers, the good news is that although digital channels enable unprecedented levels of brand-switching, they also offer innovative opportunities to build brand loyalty. In order to help our brand and agency partners navigate evolving consumer expectations and lifestyles in this value-driven space, we present Snipp’s Guide to Loyalty for CPG Brands in 2016.