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Fastest-Growing Companies Offer Strategies for Boosting Growth in Challenging EnvironmentAlthough U.S. consumer packaged goods (CPG) companies once again faced a challenging environment in 2017, research released today by The Boston Consulting Group (BCG) and IRI found that many of the industry's top performers generated growth by distinguishing themselves in three ways: differentiating their offerings, targeting consumers with greater precision and complementing organic growth with inorganic growth. "We are facing an evolving retail landscape and changing consumer purchasing preferences, demanding CPG companies regularly revisit their strategies," said Krishnakumar (KK) Davey, president of IRI Strategic Analytics. "Companies that use data-driven strategies to understand their consumers and what is driving their growth are best positioned to identify and take advantage of new opportunities whenever they arise." "The market continues to be sluggish, but in identifying this year's CPG growth leaders, we found that there are clear steps companies can take to uncover areas of growth," said Peri Edelstein, a BCG partner and coauthor of the study. "This includes developing a deep understanding of consumer demand, innovating to meet new occasions and using pricing strategically to enhance volume growth instead of as a tactic to drive dollar growth." Key findings of the study include:
Constellation Brands tops the CPG growth-leader list of large companies, followed by DanoneWave, Mars, Dr Pepper Snapple and Tyson. The leaders among midsize companies are The Wonderful Company, Cargill, Chobani, Monster and Hostess. Topping the growth-leader list of small companies are Pax, Eden Creamery, Rana, Bragg and Idahoan Foods. The study also analyzed trends that drove performance in the CPG sector, and suggests that the most successful companies distinguish themselves in several key ways:
To arrange an interview with one of the authors, please contact BCG's Eric Gregoire at 617-671-5625 or [email protected] or IRI's Shelley Hughes (News - Alert) at 312-474-3675 or [email protected]. About The Boston Consulting Group The Boston Consulting Group (BCG) is a global management consulting firm and the world's leading advisor on business strategy. We partner with clients from the private, public and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges and transform their enterprises. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with offices in more than 90 cities in 50 countries. For more information, please visit bcg.com. About IRI Strategic Analytics: IRI Strategic Analytics drives competitively advantaged, shopper-centric business decisions for CPG and retail clients by leveraging predictive analytics and prescriptive solutions, powered by artificial intelligence and machine learning in combination with deep strategy, analytic and activation expertise. About IRI IRI is a leading provider of big data, predictive analytics and forward-looking insights that help CPG, OTC health care organizations, retailers, financial services and media companies grow their businesses. A confluence of major external events - a change in consumer buying habits, big data coming into its own, advanced analytics and personalized consumer activation - is leading to a seismic shift in drivers of success in all industries. With the largest repository of purchase, media, social, causal and loyalty data, all integrated on an on-demand, cloud-based technology platform, IRI is empowering the personalization revolution, helping to guide its more than 5,000 clients around the world in their quests to remain relentlessly relevant, capture market share, connect with consumers, collaborate with key constituents and deliver market-leading growth. For more information, visit www.iriworldwide.com.
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