Circana Unpacked

Diversity, equity, and inclusion in business has positive benefits for workers, for business results, and for people and communities engaging with these businesses. Cecilia Ogude, Circana’s senior vice president, Global Diversity, Equity, and Inclusion, breaks down the benefits and talks about what’s missing without DEI. 

• Diversity doesn’t just focus on one element or group and doesn’t diminish the value of one group over another. It includes and supports everyone.  

Some 93% of Gen Z and younger millennials are changing their behavior based on higher prices, a much higher percentage than previous generations. Stepping back for a wider view, Jonna Parker, team lead, Circana’s Fresh Foods Group, believes these younger consumers have been impacted by more trauma, from terrorism and a recession to pandemic and current inflation. Given the world they’ve grown up in, they aren’t going to become like their older counterparts. Parker and Anne-Marie Roerink, president of 210 Analytics, dive into generational differences and how retailers and brands can connect.

Highlights:

• 2024 is an inflection point where generational differences in eating, cooking, and shopping will need to be balanced.

Nearly 13% of Americans, or 17% of U.S. households, receive Supplemental Nutrition Assistance benefits, yet they represent nearly a third of total store sales. Sally Lyons Wyatt, Circana’s global executive vice president for consumer goods and foodservice insights, talks about who is winning the SNAP shopper and strategies all retailers should use to engage this valuable shopper group.

Highlights:

• SNAP shoppers represent nearly 50% of dollar store sales, and nearly 40% of convenience channel sales.

Moving from full-service to self-service in meat and deli departments, increasing value-added offerings in produce and deli, these are just a few examples of grocery retail’s evolution. Jonna Parker, team lead, Circana’s Fresh Foods Group, and Anne-Marie Roerink, president of 210 Analytics, advocate for learning about the most important shopper groups and meeting their changing needs.

Highlights:

• Baby boomers, long the biggest spenders, are on the cusp of being overtaken by Gen X and millennials. While it’s still important to please boomers, long-term success depends on answering the call of younger shoppers.

Most of the consumer tech innovation at the Consumer Electronics Show 2024 are enhancements to existing technology; think better quality audio and new capabilities. Despite lackluster levels of product innovation showcased at CES, Circana tech analyst Ben Arnold and audio analyst Ashley McCann are optimistic about opportunities in kitchen, home and audio for growth in the year ahead.   

Highlights:  

• While artificial intelligence was the buzzword at CES, AI hardware was harder to find. Chatbots in cars and a new keyboard function are standout examples.  

Within the complex arena of marketing mix, linear TV and connected TV are viewed separately. Currently, CTV is having its moment, surpassing linear TV in return on ad spend. Circana’s Susan Kelly, solutions design, global solutions delivery and Kelly Dunham, delivery director, talk about execution and measurement of success for both approaches and the increasing value of targeting that is giving CTV its shine.  

Highlights:  

• Linear TV offers lower cost-per-impressions and provides a broader reach than connected TV. 

The pandemic put the breaks on a lot of consumer tech innovation, so anticipation is building for CES 2024, when many companies will display their latest and greatest. Ben Arnold, Circana’s executive director, industry analyst, Consumer Technology, provides examples of innovation that go beyond tech gadgets and shares what he hopes to see at the show.  

Highlights:  

• From autonomous vehicles to drug discovery, artificial intelligence is making headlines. How will open-AI positively impact the daily lives of consumers?  

Traditionally in the U.S., the day after Thanksgiving is Black Friday, which moves holiday shopping into high gear. While doorbusters have dwindled, brands and retailers work to lure shoppers with deals and experiences that set the tone for holiday sales. Circana’s Joe Derochowski, vice president and industry advisor, home and home improvement, and Ben Arnold, executive director, industry analyst, consumer technology, weigh in on Black Friday week results and discuss how their industries can claw back holiday sales.

Highlights:

• While not as bad as 2022, sales of home goods and consumer electronics were still down. The upside, gains were made compared to earlier periods of 2023.

As middle-of-the-road grocery retail continues to get squeezed, reaching consumers before they make decisions becomes critical. In this Fresh Pulse episode, Jonna Parker, team lead, Circana’s Fresh Foods Group, and Anne-Marie Roerink, president of 210 Analytics, share strategies retailers can use to highlight their points of differentiation, starting with elevating outside-the-store marketing.

• Retailers’ focus on in-store execution ignores pre-tailing, when consumers make their decisions of where to shop and what to buy, as well as post-tailing, their at-home experience with what was purchased.

Despite a forecasted sales decline of 4% - 5% through 2024, sales of small appliances remain elevated from pre-pandemic levels. To buck the negative trend, marketers should focus equally on messaging and innovation. Joe Derochowski, Circana’s vice president and industry advisor, Home and Home Improvement, shares his secret sauce for picking holiday winners and identifying opportunities for growth throughout the year.  

Highlights:  

• The replacement cycle for many small appliances may shrink from the traditional five to eight years given high usage throughout the pandemic.