CPG brands (consumer packaged goods) and retailers need to stay on top of shopping trends and constantly-shifting consumer needs. To help with this, Catalina released information from their Buyer Intelligence database to shed light on the top three shopping trends of the new decade.
Pulling from three years of purchase history, Catalina believes the big three product groups poised for high growth are Premium Pet Food, Cannabidiol (CBD) products and Plant-based Foods.
“We are excited to have unearthed these insights, which are already inspiring recommendations for cross-promotion and merchandising to drive sales even higher,” said Catalina’s Chief Marketing Officer, Marta Cyhan. “For instance, pet parents are more likely to be moving to plant-based diets. And about two-thirds of shoppers who buy CBD pet care products also regularly buy plant-based milk alternatives, while more than one quarter also buy milk alternatives.”
Pet owners showing their love of their pets through the purchase of products shows no signs of stopping. More money is being spent on the wellness of dogs and cats, with dogs making up a larger market share. This flows over to other areas such as pet clean up leading them to purchase floor wax, air filters, deodorizers, and a range of rug and upholstery cleaners.
CBD’s rise, by comparison, is tied to increasing recognition and acceptance of its health benefits. The number of buyers in the past year alone exploded by 510%. Of this number, 77% exclusively purchase topical CBD products rather than ingestible ones and an average of 1.2 purchases per year suggests the growth potential of this product group.
The third top shopping trend is plant-based products that shows similar buying upticks, with 16% increases in meat substitute purchases, 7% increase in milk alternatives, and a 45% jump in non-dairy yogurt purchases. Dairy-free yogurts are the fastest growing section and meat-substitute purchases is a strong contender. Per year, meat substitute buyers spend about $105.37 on refrigerated items and $125.90 on frozen products on average.
