Consumers are re-evaluating their spending! Ananda Roy of Circana shares how brands can adapt:

  • Essentials vs. Discretionary: The line is blurring, with a rise in "transitioning essentials" bought less often.
  • FMCG Impact: Core essentials see a small volume dip, while discretionary categories (e.g., household care) see a steeper decline.
  • Winning Strategies:
    • Innovate: Develop new options (e.g., cooking oil alternatives).
    • Promotions & Research: Invest in brand awareness, promotions, and consumer research.
    • Differentiate Essentials: Highlight value propositions to maintain brand loyalty.
  • Adapt to Change: Understand the evolving relationship between essential and discretionary spending.