SAN FRANCISCO, March 24, 2021 /PRNewswire/ — RangeMe, the leading industry online platform that streamlines new product discovery between product suppliers and retailers, released its annual end-of-year Retail Recap report featuring data for the consumer packaged goods (CPG) industry that directly informed retail buying decisions.
The past year presented previously unseen challenges for the CPG industry, and in the wake of the global pandemic, retailers had to pivot how they did business. 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. RangeMe’s 2020 Retail Recap showcases data that supports trends across the industry.
“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. “The platform has provided a wealth of data, and we’re excited to help our retail partners leverage that to find new items to add to their product lineups.”
Data gathered and analyzed from the RangeMe platform established new product trends throughout the year and brought to light a new-to-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. What’s more, the health and beauty category, which saw 50% product growth in 2020, played a significant role in increasing the visibility of personal virus protection products, as buyers searched for health-conscious products 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, among others.
Supplier Diversity critical to CPG in 2020
The global pandemic gripped the U.S. in 2020, but the country was also embroiled in a social justice revolution that deeply impacted peoples’ lives. As a result, the RangeMe platform saw an uptick in searches for brands that were accredited with certifications such as Women-owned, Black-owned, Minority-owned, and more. Supplier diversity became a necessity for retailers in 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 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, Clean Label certified, and more. 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. This data will also 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 2020, and will continue to inform CPG trends for the coming year, download the full report here www.rangeme.com/blog/2020-retail-recap.
RangeMe, an ECRM company, is the leading online platform that streamlines new product discovery between suppliers and retailers. The platform empowers retail buyers to efficiently discover innovative and emerging products, while streamlining the inbound product submission process. For product suppliers, RangeMe enables them to grow their retail relationships with a platform that gives them the tools to manage their products, market their brand, and build awareness. Now integrated into the ECRM product offering, RangeMe adds increased breadth and depth to the industry’s most complete sourcing solution for top retailers and product suppliers in the US.
Tier 1 Public Relations for RangeMe