CPG companies are experience significant disruption in their industry. Understanding what drives future consumer behavior will be critical to achieve CPG sales goals, profit margins, and strengthen retailer relations.
Many predictive methods in use today, however, continue to analyze historical trends and internal metrics, ignorning external influences on a consumer. Certain external factors such as income and wages can play a large role in how often a consumer buys a product, how much they buy, or if they switch to less expensive alternatives.
In this webinar, Sr. Economist Andrew Duguay will discuss:
- How category spending can be influenced by income changes
- How brands should understand their relationship based on consumers in various income brackets
- Why “average weekly hours of all US employees” might be the most important indicator for category planning
About the Speaker
Andrew Duguay is a Senior Economist for Prevedere, a predictive analytics company that helps provides business leaders a real-time insight into their company’s future performance. Prior to his role at Prevedere, Andrew was a Senior Economist at ITR Economics. Andrew’s commentary and expertise have been featured in NPR, Reuters, and other publications. Andrew has an MBA and a degree in Economics. He has received a Certificate in Professional Forecasting from the Institute for Business Forecasting and Certificates in Economic Measurement, Applied Econometrics, and Time-Series Analysis and Forecasting from the National Association for Business Economics.
Prevedere is an industry insight and predictive analytics company, helping business leaders make better decisions by providing a real-time view of their company’s future. Our external real-time insights engine constantly monitors the world’s data, identifying future threats or opportunities to business performance. Along with a team of industry experts, data scientist, and economists, Prevedere helps business leaders make the right decisions in an ever-changing world.