The Trend Behind the Spend: A Study of Trade Promotion and Merchandising Spending in the Consumer Packaged Goods (CPG) Industry The Trend Behind the Spend reveals insights into today’s CPG trade promotion and shopper marketing spending environment, including a look into the future and how key tactics are changing the retail landscape. AMG Strategic Advisors studied and assessed the trade spending of more than 200 CPG company clients to create this critical and comprehensive report. The full findings include 750+ unique response sets on topics ranging from pricing analysis and slotting tactics to spending priorities and retailer performance. The results include actionable steps for maximizing marketing budgets, gaining competitive advantage and exploiting trends. One of the most robust reports on CPG trade promotion and merchandising spending 235 CPG companies represented, across 110 store categories at 55 retailers More than $5 billion in trade promotion and shopper marketing spending represented The report data was analyzed in two overall categories: 1. Size of the CPG company based on total annual revenue, and 2. Department within the store. % of Responses by Client Size 39% 21% 40% Small (< $200 Million) Medium ($200M to $1B) Large (> $1 Billion) STRATEGIC ADVISORS 2011 / 2012 © Copyright 2012 Acosta. All Rights Reserved 1 Introduction Tough economic conditions have spurred trade promotion and merchandising spending decisions over the past couple of years. The result has been tighter marketing budgets and increased pressure for quantifiable return-on-investment. The challenge has led to some advantageous outcomes that are expected to continue to accelerate and expand in the world of CPG marketing: Better alignment between CPG companies and retailers Greater emphasis on shopper marketing strategies The largest CPG companies we evaluated are the most likely to employ measurement tactics and analytics to make marketing spending decisions. The missed opportunity for small- to medium-size companies is significant. The more modest the marketing dollars, the greater need to be precise and calculating in the competitive world of marketing. For larger CPG companies, silos among sales, marketing and manufacturing departments remain a major impediment for effective, results-driven trade and promotion programs. The greatest opportunity for these companies exists in consistently creating and deploying targeted cross-platform, shopper-centric marketing programs. Going Digital to Win in the Store Three out of five companies executed digital shopper marketing programs, dominated by Facebook and social media, in the past year. More than half expect to expand digital shopper marketing programs in the coming year. Following Facebook and social media-generated campaigns are Twitter feeds, digital coupons, loyalty programs, and product websites. The challenge is creating cohesive, integrated shopper marketing programs that impact shoppers’ behavior and fully understanding the ROI on this investment. Retailer Specific Programs As retailers have become more aggressive, sophisticated marketers, account-specific marketing has become a more important mix of the marketing programs for savvy CPG companies. The larger CPG companies have caught on – some 80% employed account-specific marketing in the last year, but small- to medium-sized CPG companies have been slower to the field. Conditions are ripe for more companies to take advantage of account specific promotions in the next year. STRATEGIC ADVISORS 2011 / 2012 © Copyright 2012 Acosta. All Rights Reserved 2 Key Findings of CPG Companies Trade Funds On average, CPG companies spend 13.7% on trade funds as a percent of gross sales. This number is higher for dairy and frozen foods companies, and lower for health beauty care/general merchandise (HBC/GM) companies. More than half of the companies using shopper marketing indicated they plan to increase shopper marketing activities in the coming year. Over 80% of large companies use accrual funding vs. only 42% of smaller companies. Promotion Management Only 64% of companies analyze most or all of their promotional spending, while two-thirds of companies employ some kind of Trade Promotion Management (TPM) system, less than 20% have a Trade Promotion Optimization (TPO) system in place. Neither system is likely to see significant increased adoption in the near term. Pricing Nearly 80% of CPG companies took a price increase on at least some of their products last year. Deli, meat and bakery manufacturers are most likely to see continued increases this coming year. More than half of the companies surveyed said they are not planning on off-setting the impact to the consumer with trade spending. Account-Specific Marketing While two out of three companies engaged in retailer-based account-specific marketing, the spending is markedly heavier for larger companies. In fact, more than 80% of larger companies participate in account-specific marketing, while less than half of small manufacturers utilize account-specific marketing. About a third of companies not participating said they plan to implement the technique next year. STRATEGIC ADVISORS 2011 / 2012 © Copyright 2012 Acosta. All Rights Reserved 3 Key Findings of CPG Companies (continued) Shopper Marketing Three out of five companies used some form of shopper marketing program this year, and more than half expect to increase their usage next year. This number is lower for smaller companies with less than 40% using a shopper marketing strategy. Most of the shopper marketing occurred among the top performing retailers, and CPG companies said they plan to increase shopper marketing activity with these retailers. More than half of companies reportedly utilizing shopper marketing today plan to increase their activity level in these programs in the future. CURRENT USERS PREDICTED CHANGE IN ACTIVITY % of Clients NON-USER PLANS TO IMPLEMENT % of Clients Total Small Client Medium Client Large Client Edible Grocery HBC Deli Meat Non-Edible Grocery Dairy Frozen Foods Natural/Organic Gen Merch STRATEGIC ADVISORS Q: What change in activity level for these kinds of programs do you expect for your client(s)? | n= 451 Q: For the clients that do not use, do you expect this to change in the next year to 3 years? | n= 190 2011 / 2012 © Copyright 2012 Acosta. All Rights Reserved 4 Key Findings of CPG Companies (continued) Slotting Allowances The average slotting cost per SKU varies widely based on the department and even the size of the CPG company. Slotting applied on a per-store basis tends to cost the CPG company more but can be beneficial if a store priority/ cluster is being used. Paying via free goods yields the lowest average cost. Slotting Tactics About 70% of CPG companies are able to negotiate slotting, but less than 30% do so regularly. Tactics are most commonly trade reinvestment or swapping out lower performing SKUs, but other strategies have also proven successful. While 20% overall expect increased slotting fees, dairy and frozen foods manufacturers are most at risk. Trade reinvestment and swapping out lower performing SKUs are the most commonly successful tactics when negotiating reduced slotting, followed by bundling products. SUCCESSFUL TACTICS FOR NEGOTIATING REDUCED/WAIVED SLOTTING % of Clients Trade Reinvestment Shopper Marketing Program Instead Demos Product Innovation (Proven Incrementality of Item) Product Bundling to Reduce Fee Participation in Loyalty Program Instead Time of Year / Seasonality Advertising Support (TV, FSI, etc.) Swap Out Lower Performing SKUs STRATEGIC ADVISORS 2011 / 2012 © Copyright 2012 Acosta. All Rights Reserved Others Q: You mentioned that slotting is negotiable at your customer. What tactics have been successful in reducing or waiving slotting for the client? | n= 411 5 Key Findings of CPG Companies (continued) Spending Priority Based on current economic challenges, the fragmentation of spending choices and the emergence of new digital and shopper marketing opportunities, understanding and prioritizing advertising and promotional spending is more important than ever. Top performers grew 4.5% on average, bottom declined 5.0% on average Top gained 1.9 points on average, bottom lost 3.0 points on average Companies are actively looking to limit or reduce spending on slotting, focusing more on trade promotion funds, product innovation, and assortment optimization. PRIORITY FOR INCREASED SPENDING IN FUTURE % of Clients Trade Promotion Funds Slotting Funds Customer-Specific Marketing Shopper Marketing Promotion Optimization / Analysis Price Optimization Product Innovation Assortment Optimization STRATEGIC ADVISORS Q: In the next year to 3 years, please indicate the priority to INCREASE spending on each of the following. | n= 768 2011 / 2012 © Copyright 2012 Acosta. All Rights Reserved 6 Get the Full Report This comprehensive AMG Strategic Advisors study is one of the most robust industry reports available on CPG trade promotion and merchandising spending. It was conducted across 110 store categories at 55 retailers with 235 CPG companies represented. More than $5 billion in spending is represented, and unique response sets number more than 750. More than just raw data, the report also includes analysis to identify best-in-class retailers and the spending strategies employed by top accounts. Contact Colin Stewart, cstewart@acosta.com for a copy of the full The Trend Behind the Spend: A Study of Trade Promotion and Merchandising Spending in the Consumer Packaged Goods (CPG) Industry. Customized analysis and research is also available. About AMG Strategic Advisors AMG Strategic Advisors leverages its first-hand experience with retailers to deliver fresh, industry leading insights most most strategy consulting firms only get second-hand. These insights provide clients a keen understanding of both the consumer and the shopper, and their differing attitudes and behavior. With a broad source of data, best practices, execution, and technology expertise, AMG Strategic Advisors knows what works and what does not, and can help drive accelerated profitable growth by solving issues that are beyond the scope of daily business management such as retail brand challenges, trade fund optimization and pricing issues. AMG Strategic Advisors provides: Growth strategy advisory Unmatched retailer and brand knowledge Path-to-purchase analytics Shopper insights research capabilities Assortment/shelf/SKU optimization Pricing/trade spending Category/retailer/industry insights About Acosta Sales & Marketing STRATEGIC ADVISORS Acosta is the sales and marketing powerhouse behind more than 1,000 of the most trusted brands in stores every day. With approximately 20,000 associates in 65 locations throughout the U.S. and Canada, Acosta provides a range of outsourced sales, marketing and retail merchandising services. For more than 80 years, Acosta has led the industry in helping CPG companies move products off shelves and into shoppers’ baskets. For more information, visit www.acosta.com. 2011 / 2012 © Copyright 2012 Acosta. All Rights Reserved 7