Over the past few weeks, COVID-19 has caused significant disruption and change to all kinds of businesses and industries. As consumers around the United States scrambled to buy toilet paper, perhaps the most interesting changes we have seen are coming from the changes in consumer behavior. The global marketing research firm, The Nielsen Company, recently wrote an article analyzing consumption data of the Consumer Packaged Goods “CPG” industry detailing the trends they are seeing. The article states, “For the two weeks ended March 21, 2020, total U.S. CPG sales (in-store and online) increased $8.5 billion from the two weeks prior. For context, that’s 15x the average rate of change for a typical two-week period.” Given the shelter in place requirements many states are implementing, this may not come as a surprise. However, it will be interesting to see how the data continues to play out over the coming months, and see which consumer behaviors stick around long after this virus is gone.
Read the full Article Here: https://www.nielsen.com/us/en/insights/article/2020/tracking-the-unprecedented-impact-of-covid-19-on-u-s-cpg-shopping-behavior/
