Numerator’s third annual eNumerate conference was held on Wednesday October 20, 2021. The virtual thought leadership event focused on understanding the ability of more data to transform growth, and showcased the power of first party data: from data feeds, to share measurement, to eCommerce and omnichannel perspectives.
Insights from Numerator
Numerator’s Brian Kay (Senior Vice President, CPG) & Hailee Hoffman (Vice President, CPG) shared original research from Numerator outlining shifts, accelerations, and emerging trends we’ve studied in-depth in recent months. These boiled down to two key buckets: Lasting eCommerce Acceleration and “Topical Twists” such as the Delta Variant, Inflation, Vaccinations and Census changes.
eCommerce: Lasting Acceleration
The online shift seen since the onset of the COVID-19 pandemic is undeniable, and it’s a shift that is here to stay. Even as in-store trips return to pre-pandemic levels, online sales remain elevated nearly 2x what they were two years ago. Online market share in the grocery sector doubled from 2.3% pre-COVID to 4.6% today, and 72% of consumers expect to utilize a hybrid online & in-store approach for purchasing their groceries moving forward.
But as consumers move online, not all brands are getting their fair-share, and consistent growth is not enough; brands must strive for disproportionate growth and focus on winning at a household level. Those who win a consumer’s first online purchase have the highest likelihood of loyalty and repeat purchases, given online’s propensity for brand loyalty. Leading consumers online and investing in virtual aisle presence will be crucial for brands looking to maintain and gain market share in the increasingly competitive omnichannel landscape.
Topical Twists: The Impacts of Inflation, Vaccination, and the Census
Numerous market dynamics are converging and making it more important than ever to have a rich understanding and connection with consumers. As prices rise on goods & services – pinching pocketbooks and leading shoppers to cut back in some areas – concerns over the Delta variant and COVID-19 surges have led to further hesitancy and cautious behaviors. Consumer-first data that ties demographic, psychographic & lifestyle information to purchase behaviors allow brands to better understand and cater to consumer needs.
We also know that the country is changing, with 2020 Census Data indicating we are moving towards a minority-white population. These accelerated demographic shifts offer tailwinds for some, but headwinds for others, and some brands will need to create new products or reposition existing products to resonate beyond their core consumer bases, particularly if those bases don’t reflect the future face of the United States.
Insights from Our Client & Guest Presenters
In addition to presenting original insights, we invited our clients to share their latest research and how they are using data to drive growth in the evolving omnichannel marketplace. Here’s what we heard:
- Mani Gopalakrishnan (Vice President, Digital Transformation) and Gregory Younkie (Data Scientist) from Kraft joined Numerator’s Lisa Gosselin (Chief Revenue Officer) to discuss how data feeds are transforming the global CPG space. They shared how Numerator’s first-party data feeds and ongoing partnership have helped them create a marketing ecosystem featuring AI driven insights and allowed their sales teams to be more insightful with retail partners.
- Jura Liaukonyte (Dake Family Associate Professor, Charles H. Dyson School of Applied Economics and Management) from Cornell University shared original research on the impact of online grocery shopping, leveraging Numerator data to dive deep into how browsing the aisles translates to browsing the apps & eCommerce landscape.
- Manny Zayas (Sr. Director of Consumer Insights & Analytics) from Spectrum Brands joined Numerator’s Lisa Raimondo (Strategic Engagement Principal – TruView) to discuss Numerator TruView and how it has unlocked broader and deeper insights into omnichannel market share shifts & shopper behavior.
- Jack Neff (Editor-at-Large) from Ad Age joined Numerator’s Kelly Dotson (Chief Marketing Officer) to share his perspectives on how marketers can manage change using data in an increasingly dynamic marketplace.
Numerator remains committed to disrupting the market research space, working quickly to innovate new solutions and publish timely research to help you navigate today’s changing world. If you’d like to dig deeper into anything we covered at eNumerate, reach out to your Numerator representative or get in touch today to discuss how we can help your business know more and grow more.