[ad_1]

retail owner checking item
  • Supplier diversity, wellness, and product discovery were all top-of-mind among buyers in Q3 as retailers seek new ways to entice consumers in the face of inflationary pressures.
  • Surprisingly, Certified Organic USDA was also the most searched certification among APAC buyers across categories and Netherland health and beauty buyers.
  • Men and women of all age ranges believe that self-care is an important part of making healthier lifestyle choices and many of them believe that self-care practices have an impact on their overall well-being. By 2026, the self-care industry will have an estimated value of $13 billion.

Customer needs and desires are constantly changing, and with them, so are the needs of retailers. Aside from the varying shift in which products are in high demand, services like fast delivery have come to be expected from brands. In order for brands to be successful, working with

suppliers and distributors who can offer this is a must. 


Pinpointing Retail Interests

As we head into 2023, RangeMe analyzed buyer and supplier data from July through September 2022 in their Retail Roundup Q3 2022 report, which details the different trends shaping the consumer packaged goods industry. Supplier diversity, wellness, and product discovery were all top-of-mind among buyers in Q3 as retailers seek new ways to entice consumers in the face of inflationary pressures. 

“RangeMe’s Retail Roundup provides a snapshot of where buyers are heading with their category planning,” Nicky Jackson, Founder & CEO of RangeMe, said in a press release. “With increasing prices and supply challenges worldwide, it is clear that there is major interest in finding new and innovative products, particularly from diverse-owned and sustainability-focused brands.”


Supplier Diversity & Wellness a Top Priority for Retailers

In Q3, the most searched certifications by retail buyers on RangeMe proved supplier diversity is still a top priority for retailers and consumers. Here are the most-searched certifications by U.S. buyers across product categories last quarter:

  • Certified Women Business Enterprise (WBE) MWBE
  • Certified Organic USDA
  • Certified Ethnic Minority Owned NMSDC

Surprisingly, Certified Organic USDA was also the most searched certification among APAC buyers across categories and Netherland health and beauty buyers. This could be due to the fact that the USDA currently has organic equivalence with a handful of countries and regions, including Japan, Korea, Taiwan, and the European Union. Meanwhile, searches for the BRCGS Global Standard Certification dropped among U.K. buyers after claiming a place on top in Q1 and Q2. 


Buyers on the Hunt for New & Innovative Products

Visits to RangeMe Collections show buyers are hungry for product innovation, with the “Trending on RangeMe” and “Startup Brands” Collections garnering the most visits. RangeMe’s Collections are curated selections of brands and products that meet set criteria typically based on trends, certifications, categories, or buyer engagement. The Trending on RangeMe Collection includes brands and products that are getting the most engagement from buyers, and the Startup Brands Collection consists of the newest brands and products in the consumer packaged goods market.


Self-Care Keywords Seeing Growth

Last quarter, the keyword, “fragrance” was trending among health and beauty care buyers around the globe, along with “deodorant,” “bath salts,” “shower steamers,” and “candles,” a nod to the self-care trend among consumers that accelerated during the pandemic and continues strong today. 

Between 2019 and 2020, Google Search Trends shows a 250 percent increase in self-care related searches. Men and women of all age ranges believe that self-care is an important part of making healthier lifestyle choices and many of them believe that self-care practices have an impact on their overall well-being. By 2026, the self-care industry will have an estimated value of $13 billion. When overlaid with technology, that number grows to $450 billion. This is tremendous growth that wholesalers can absolutely capitalize on. 

Whether you are looking to freshen up your inventory offering or target more buyers, let these trends help you prepare your business for 2023 and get the growth you desire.

[ad_2]

Source link

Load More By Susan Hendricks
Load More In Shopping
Comments are closed.

Check Also

The Duggar Family

[ad_1] The Duggar Family [ad_2] Source link …