TWIG Podcast: Data Makes the Grocery World Go Round
Dealing with data in the food retail space may seem like an overwhelming task. Luckily, the TWIG Podcast was recently joined by Laura Howell, chief data officer at consumer brands agency C.A. Fortune, to talk about optimizing the right data.
Laura gives listeners invaluable advice on how to approach analytical data, including everything from having a firm understanding of the objective to telling a story that brings the data to life.
Listeners also get an inside look at some innovative projects her team is currently working on, including a brand new approach to category review management. “We're working on setting up automation practices and tracking mechanisms," she says. "I've yet to see this type of approach in the CPG space. ... I am just so confident that it's going to make a big impact to our current clients and also get a lot of attention from potential new client partners as well.”
[RELATED: A Path to Smarter Category Management]
Plus, Laura provides a fascinating look at key trends in the grocery and CPG space. According to C.A. Fortune data, shoppers are changing their behaviors due to a number of factors. The most obvious being inflation, which continues to be a big concern.
“We're seeing price trends that were going historically upward starting to level off,” explains Laura. “But as you know, a dollar doesn't go quite as far as it used to. We've seen shoppers becoming more sensitive to pack size reductions. The media has really shined a light on shrinkflation and now it's a significant frustration for the average household.”
Besides inflationary pressure, sustainability is a hot button right now in CPG. Laura says shoppers are being incredibly cognizant of the environment, animals and people. “We're seeing sustainably marketed products growing twice as fast as conventionally marketed items,” she says. “Many shoppers are saying that they're willing to actually pay more for these types of products.”
Animal welfare and ethical farming are areas where shoppers are paying particular attention. “They're really leaning into brands that treat animals and workers humanely and investing in those products,” says Laura.
Another big trend Laura talks about is health and wellness. “We've seen shoppers get more keyed into the fact that we are what we eat so we really need to choose wisely what we put in our bodies. The functional food market is on a steep upward trend and we're expecting to see double-digit growth for those types of products,” she explains. “In general, families are adopting the mindset of food as fuel and I really do believe these trends are here to stay as individuals become more and more educated on how food truly does contribute to overall well-being.”
Meanwhile, the TWIG Podcast is also proud to announce that Laura is a 2024 TWIG Honoree. Laura shares how her charity work with the Salt & Light organization helped contribute to her winning this prestigious industry award.
(Do you prefer to watch this episode instead? CLICK HERE to view the video.)
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Progressive Grocer’s podcast focuses on the trends, topics and interests that move women forward in grocery retail. If you have an idea for a TWIG podcast topic, contact [email protected] and/or [email protected].
