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WASHINGTON, D.C. -- Consumer packaged goods companies are expected to adjust their marketing mix to invest more heavily in shopper marketing strategies, according to "Shopper Marketing: Capturing a Shopper's Mind, Heart, and Wallet" a new study from GMA here and Deloitte Consulting, LLP.
The report found that while, overall marketing budgets are growing at 2 percent Compound Annual Growth Rate (CAGR), shopper marketing funds are increasing at 21 percent and 26 percent CAGR for manufacturers and retailers respectively.
"Shopper Marketing: Capturing a Shopper's Mind, Heart, and Wallet" rates the current state of shopper marketing in the CPG industry, names leadership practices in shopper marketing, and advises go-to-market strategies for shopper marketing.
The report further found that retailers and manufacturers alike increasingly believe that effective shopper marketing initiatives will lead to a competitive advantage, and are retooling their strategies accordingly.
"The GMA Sales Committee initiated this project to gain a deeper understanding of shopper marketing and enable senior executives in our manufacturer member companies to maximize the ROI of their marketing strategy," said GMA s.v.p. of industry affairs Stephen Sibert. "These results demonstrate that manufacturers and retailers need to be adaptable in an increasingly shopper-centric marketplace."
"What retailers told us and what market leaders have figured out is that manufacturers can differentiate themselves in the eyes of their retail customers by demonstrating advanced shopper marketing competencies and offering unique opportunities for collaboration," added Deloitte partner Nick Handrinos, lead author of the study.
Initiated by the GMA Sales Committee, the analysis features in-depth survey and interview data from leading manufacturers, retailers, and service providers, in addition to secondary research from publicly available data.
The Grocery Manufacturers/Food Products Association (GMA/FPA) comprises the world’s leading food, beverage and consumer products companies. The GMA/FPA's board of directors consists of c.e.o.'s from the association’s member companies.