Driving innovation is critical for CPG companies to succeed
Consumers today have more choices than ever, and economic dynamics globally will continue to boost their spending power. To maintain a competitive edge, consumer packaged goods (CPG) companies need to better understand and engage their consumers. But faced with tough choices of where to invest their resources, CPG companies need the right tools to inform decision-making and drive growth.
Data-driven decision-making guides how CPGs approach and optimize business initiatives
To drive innovation and accelerate growth, CPG companies need the right analytics capabilities to evaluate new ideas and initiatives. With precise testing and targeting, CPG companies can unlock answers to key business questions.
- Which consumers respond best to each campaign, and how can we tailor outreach?
- How do pricing changes impact product sales and their related offerings?
- How do new packaging or merchandising strategies impact sales?
Solutions we offer
In an evolving economic landscape, understanding consumer priorities is key
Shifting market forces and inflationary pressures have created more urgency for CPG companies to understand how these economic factors affect their consumers. To forecast demand accurately, CPGs need macro-level insights into consumer spending and price elasticity, along with localized insights on how different markets perform.
Solutions we offer
Amid more choice and competition, CPG companies must find ways to get closer to their consumers
Mounting consumer expectations, the rise of e-commerce and new industry entrants have disrupted the traditional CPG landscape. To succeed in today’s marketplace, consumer goods companies need deeper insight into consumers’ preferences and to create more personalized experiences. To unify the customer experience across e-commerce and brick-and-mortar, companies must carefully think through touchpoints and how they can engage consumers across channels.
Solutions we offer
The Hershey Company was interested in understanding consumer behavior and spending trends. With Mastercard’s SpendingPulse™ platform, Hershey unlocked access to market intelligence based on consumer spending trends across different channels and industries. These insights allowed the company to better understand market dynamics and the factors influencing consumer spending decisions. By embedding SpendingPulse™ data into Mastercard’s Test & Learn® platform, the company also gained the ability to measure initiatives rolled out on a nationwide scale.
I have never had a third party with as capable, competent, highly skilled, talented people that are more available than the Test & Learn® support team.
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