There’s a myth in the marketplace of how “third-party data is dead,” especially given the significant changes in policies, privacy and compliance requirements. Some brands think third-party data leads to cost inefficiencies, but typically, these brands are leveraging data from an unknown, non-validated source resulting in poor data quality.
CPG brands saw a massive increase in sales during COVID-19. With consumers sheltered at home, they found comfort in traditional products and brands and discovered new brands when their favorites were out of stock. As most CPG categories experienced double-digit growth in 2020 – and CPG overall grew an unprecedented 11% - brands also saw an influx of new customers.