Harness the power of RMS data
According to NIQ’s Retail Measurement Services (RMS) data the fast-moving consumer goods FMCG industry posted robust growth in 2022, with a global increase of nominal growth: 6.3%. Pet Care and Snacking emerged as the fastest growing segments — the Frozen, Dairy, and Paper Products segments also outpaced FMCG growth. These findings suggest that the FMCG industry is thriving, with certain categories showing exceptional potential.
Despite the overall positive trend, consumers around the world are still grappling with challenges including the rising costs of utilities and goods, declining employment wage rates, geopolitical crises, and unusual weather events, among others.
Consequently, consumers are more cost-conscious and implementing saving tactics. They’re prioritizing products that they view as essential, and also selecting retail channels that align with their saving strategies.
FMCG manufacturers and retailers can still drive growth amidst consumers’ cautious sentiments by harnessing the power of retail measurement data.
To stay ahead of the game, manufacturers and retailers can analyze consumer behavior, optimize supply chain performance, and implement targeted marketing and pricing strategies based on data-driven insights. With the ability to adapt to shifting consumer sentiments and spending habits, and changing market conditions, businesses can stay competitive in the long run and drive sustainable growth.
NIQ’s FMCG Pulse report provides the full view of the FMCG landscape including global category and retail channel trends and regional data and insights to help you strategize your growth path in 2023.
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