Global Powers of Consumer Products 2015
The 2015 American Pantry study
The call to re-connect with consumers
Deloitte first conducted this annual study in 2010 to gain a deeper understanding of consumer attitudes–and how those attitudes affect purchasing behavior. However, this year’s survey is particularly important and exciting because it offers early insights into how today’s consumers are responding to the US economy’s belated recovery.
The 2015 American Pantry study
The past several years have been long and challenging for many companies in the consumer packaged goods (CPG) sector. After years of economic struggles and uninspiring growth, shoppers have learned to be very careful and resourceful with their spending – holding out for lower prices, and employing a variety of techniques and approaches to stretch their dollars to the limit. Also, despite major investments in brand-building and marketing, loyalty to national brands has continued to decline across most product categories since 2010 as store brands continued to be a viable competitor.
The good news for CPG companies is that the US economy finally seems to be turning the corner and accelerating towards real recovery and growth. However, according to our survey the majority of consumers believe the economy has fundamentally changed and that tough economic conditions are the “new normal.” Most also say they will continue their resourceful ways even after the economy improves. Are consumers right? Or will they quickly revert to their old free-spending habits once the economy gets rolling?
As the US economy builds strength, consumer attitudes and behaviors could shift dramatically–creating tremendous opportunities and risks for companies in the sector. Businesses that get things right can use the economy’s momentum to propel themselves to new heights. On the other hand, those that get things wrong–or move too slowly–could very well be left behind.
Discover the results of the 2015 American Pantry study and help your company map out a strategy for growth.
In this year’s study, we supplemented our online survey with a mobile ethnography study that used a mobile app to help respondents document key details of more than 500 shopping experiences.
About the study
In January 2015, Deloitte conducted an online survey of 4,013 consumers to better understand their shopping behaviors and attitudes. The pool of participants included both primary and shared shoppers, with a demographic mix that broadly resembles the overall population of US consumers. Detailed survey data was collected for 354 brands across 34 product categories.
These two diverse data sources (combined with historical data from our previous studies) provides a unique and valuable perspective on changing consumer attitudes and behaviors, and offers valuable clues about future shopping trends.
Explore the 2015 American Pantry Study infographic on DUPress.com.
The American Pantry Study is an annual report that Deloitte has continued to administer to help the industry understand the role of brands, consumer behavior, and brand trade-off strategies in the midst of new financial realities.