RangeMe has released its annual end-of-year Retail Recap report analyzing data for the CPG industry that directly informed retail buying decisions.
The 2020 Retail Recap, which showcases data that supports industry trends based on real-world search data from retail buyers across the nation, established diversity and sustainability as the leading CPG product trends amid the COVID-19 pandemic.
As 2020 caused many challenges for the CPG industry, retailers had to pivot their business operations and many retail buyers turned to online product sourcing to find the products consumers wanted and needed, which in turn sparked a digital transformation that has turned CPG on its axis.
“When the COVID-19 pandemic hit, RangeMe became an even more important tool for retail buyers, as a place where they could continue discovering innovative products in emerging categories,” said Nicky Jackson, founder and CEO of RangeMe.
Data gathered and analyzed from the RangeMe platform determined new product trends throughout the year and brought to light a new CPG category trend: personal virus protection. In 2020, the COVID-19 Supplies and Essentials collection saw a dramatic increase in growth across categories, including frozen foods, pasta sauces, diapers, and — big surprise — toilet paper.
More notably, the health and beauty category, which saw 50% product growth in 2020, played a big role in increasing the visibility of personal virus protection products, as buyers searched for health-conscious and better-for-you products. Brands like Mednet Direct, Kefla, Cleanfinity Brands, and Urban Hydration were some of the most-viewed brands that added to the data for improved buyer-informed decisions. The personal virus protection products trend is further supported by high-growth keywords that most buyers searched for on the platform, including face masks and disinfectants.
Supplier Diversity critical to CPG in 2020
Amid the global pandemic, the U.S. was also embroiled in a social justice movement. As a result, the RangeMe platform saw an uptick in searches for brands that were accredited with certifications such as women-owned, Black-owned and minority-owned. Supplier diversity became a necessity for retailers based on how they sourced products and the types of products they searched for.
Sustainability keeps a firm hold on CPG
Sustainable and certified products have been growing in popularity over the past decade, and RangeMe’s data shows that trend isn’t slowing down. In 2020, general merchandise, for example, experienced a 52% growth in products on the platform, and searches in this category focused on brands with certifications that included Fair Trade, USDA Organic and Clean Label certified. Brands like Bixbee and Greenlid saw increased interest from buyers, thanks to their sustainability claims.
While 2020 was a year unlike any other, the supplier and buyer data analyzed from the RangeMe platform was critical for retailers to make more informed buying decisions, and may inform buying decisions for 2021, as both the industry and its consumers continue moving forward.
To find out more about the key trends in the CPG industry that informed buying decisions in 2020 – and will continue to inform CPG trends for the coming year – view the full report below.