New research from IRI has found that small and extra-small CPG manufacturers’ and retailers’ own brands gained U.S. market share over larger players during 2020. Of the CPG industry’s $933 billion of total U.S. sales in measured channels in 2020, large manufacturers collectively lost 1.3 share points, or $12.1 billion in sales, to smaller players due to channel shifts, supply constraints and category shifts. –New Hope Network
Where should a small, start-up, or local CPG manufacturer in the food space begin if they want to get in on the online action? Well, if based on Long Island, the answer would be the Long Island Food Council Marketplace. Why? It’s a niche marketplace designed specifically to support Long Island manufacturers by offering a platform where they can connect directly with the consumer near or far to generate buzz, and promote and sell their products.
Two very important things to know about why an online marketplace like LIFC’s is the perfect starting point for Long Island food and beverage CPGs: