Why it matters
The consumer-packaged goods industry is witnessing a surge in demand in response to COVID-19, and is also home to some of the marketing industry’s most sophisticated brand strategies. Approaches from this industry could thus be highly instructive for enterprises in other categories.
Takeaways
- Tracking consumer insights – especially with direct behavioral data – is an essential response to the Coronavirus crisis.
- Product rationalization is likely in brick-and-mortar stores once the recovery begins, and marketers should plan accordingly.
- Many consumers will trade down in the recession, but others will focus on getting the greatest possible value – in...