Written by Paul Hiebert
Since the Covid-19 outbreak altered life for millions of Americans a year ago, business has been good for the consumer packaged goods (CPG) industry. More people working, eating, studying and exercising at home means more demand for household staples ranging from jars of mayonnaise to rolls of toilet paper.
From March 2020 through February 2021, both in-store and online CPG sales rose 14% compared to the previous 12-month period, according to data from measurement firm NCSolutions.
A new report from the Consumer Brands Association provides reason to believe industry sales will remain elevated. The trade group, which represents the interests of companies such as General Mills and Procter & Gamble, estimates that even though demand for packaged-food and household cleaners will decrease from 2020 highs, total purchases in 2021 will be between 7.4% and 8.5% higher than 2019.
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