VMLY&R COMMERCE’s monthly Commerce publication – Add to Cart – summarizes the key stories, trends and themes to help clients navigate the evolving ecosystem.
Below are key points for February 2022:
- $82 Billion – The volume of CPG lost sales due to Out of Stock items; Pair that number with $199B in Private label brand sales before Inflation really kicked in, our brands need to start thinking about win back strategies.
- Online Grocery: Click and Collect continues to grow with January 2022 sales exceeding $4 Billion (2.5% yr/yr growth rate), while Ship to Home saw a 6% decline.
- 49% of TikTok users say that the app is a good place to discover new products & 44% found new products via videos posted by brands.
- Shopify rolls out 3-D and AR tools on the platform. It may be a good time to start having conversations with our clients around the importance of creating 3D renders now in preparation for the future.
- 35% of consumers rank sustainability as a top five consideration … Question for us all to think about ... How are we helping our clients tell their Sustainability stories?