Impact of Wages and Income on CPG Sales
How category demand is impacted by consumers’ ability to earn and spend
Webinar: The Impact of Wages and Income on CPG Sales
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CPG companies are experience significant disruption in their industry. Understanding what drives future consumer behavior will be critical to achieve CPG sales goals, profit margins, and strengthen retailer relations.
Many predictive methods in use today, however, continue to analyze historical trends and internal metrics, ignorning external influences on a consumer. Certain external factors such as income and wages can play a large role in how often a consumer buys a product, how much they buy, or if they switch to less expensive alternatives.
In this webinar, Sr. Economist Andrew Duguay will discuss:
- How category spending can be influenced by income changes
- How brands should understand their relationship based on consumers in various income brackets
- Why “average weekly hours of all US employees” might be the most important indicator for category planning
About the Speaker
Prevedere is an industry insight and predictive analytics company, helping business leaders make better decisions by providing a real-time view of their company’s future. Our external real-time insights engine constantly monitors the world’s data, identifying future threats or opportunities to business performance. Along with a team of industry experts, data scientist, and economists, Prevedere helps business leaders make the right decisions in an ever-changing world.