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5/22/2008
In Wake of Hurricane Katrina, IRI Multi-Phase Study Guides CPG and Retail Industries in Forming Effe
Initial Two Phases Provide New Insights on Consumer Purchasing Behaviors in Weeks Before and After Hurricane Katrina
CHICAGO, Sept. 28, 2005 — In the aftermath of Hurricane Katrina, which devastated much of the U.S. Gulf Coast in late August, businesses across the country sought ways to assist the thousands of victims. Consumer packaged goods (CPG) manufacturers and retailers were among the most critical companies needed on the scene to provide essential food, beverages and supplies.
Information Resources, Inc. (IRI), the leading provider of enterprise market information solutions for the CPG, retail and healthcare industries, today released parts one and two of a four-part study intended to provide insights into CPG consumers’ needs before and after such a natural catastrophe, so that a disaster relief strategy can be proactively developed for future cataclysmic events.
The special Times and Trends report focuses on purchase behavior across three affected areas: New Orleans, La./Mobile, Ala., Birmingham/Montgomery, Ala., and Mississippi. In addition to assisting CPG companies, the comprehensive study will provide government and non-profit organizations detailed information to leverage in educational programs designed to help citizens prepare for natural and other disasters.
“Through the use of our granular store-level market information capabilities, IRI has quickly assessed consumer shopping behaviors and corresponding sales impact in the Gulf Coast region to provide critical insight to the industry,” said Janet Eden-Harris, executive vice president and global chief marketing officer, IRI. “This valuable perspective can be immediately used to help both manufacturers and retailers better prepare to provide essential products to needy consumers during unfortunate times.”
Report One: Pre-Hurricane Stock-Up
Concentrating on the items Gulf Coast consumers stocked up on prior to Hurricane Katrina’s arrival, the study revealed that consumers in the affected areas purchased highly necessary beverages and shelf-stable, protein-rich foods. Specifically, the New Orleans and Mobile regions saw increased sales of canned meat, canned seafood and dried meat snacks; bottled water unit sales spiked dramatically in all three markets; and New Orleans’ consumers stocked up on shelf stable non-fruit drinks and aseptic juices.
In terms of non-food items, huge surges in demand drove up total U.S. unit sales of flashlights and batteries by 33 percent and 15 percent respectively, as Gulf Coast consumers geared up for short-term power outages. Additionally, increases in charcoal and charcoal/lighter fluid in New Orleans/Mobile displayed a high concern for meal-preparation alternatives.
Based on these findings, the report suggests that disaster planning experts deeply examine these purchase trends to determine if consumers’ perceived necessities are on target with optimal food and beverage selection. Manufacturers and retailers should ensure that fast-acting disaster relief plans are created and implemented so that supplies can be quickly ramped up to match consumers’ needs.
Not surprisingly, sales of refrigerated and frozen food and beverage items dipped. Sales of the majority of baby care and pet food categories also declined in the week prior to the hurricane, presumably due to a sufficient surplus at home. Additionally, purchases of healthcare items, including first aid treatments and over-the-counter treatments for chronic conditions, slowed dramatically, as Gulf Coast consumers focused their resources on attaining the necessary food, beverage and household items.
From an educational standpoint, the study recommends that government and non-profit organizations begin to encourage consumers to examine their longer-term food, pet and healthcare needs before such a catastrophic event, given the potential for severely limited access to supplies for several days and even weeks.
Report Two: The Week After
This second report focuses on items purchased during the week immediately following the hurricane (Aug. 29-Sept. 4) within the aforementioned Gulf Coast markets, as well as the surrounding regions where thousands of displaced evacuees are now residing. In addition, the report re-examined the horrific 2004 hurricane season in which three successive hurricanes hit the Florida marketplace.
In terms of purchasing behavior, total CPG dollars in the grocery channel increased by 7.4 percent in the week following Hurricane Katrina versus the pre-Hurricane week ending August 21 (i.e. before stock-up occurred), but declined by 6 percent versus prior year against an elevated base driven by Florida’s 2004 hurricane-related sales. More specifically, the New Orleans/Mobile geography saw sales decline by 46 percent versus the pre-hurricane period, as consumers and business owners vacated the area.
Shelf-stable foods and beverages, personal care products and select general merchandise items, such as flashlights, batteries and candles all experienced strong growth during this time. Alternatively, power outages negatively impacted sales within dairy and frozen categories, while dipping healthcare sales trends leveled out.
The second report also thoroughly compares the purchasing behaviors during this year’s and last year’s hurricane seasons, offering key insights into the expected duration of current purchase trends.
Both reports can be found under the News & Events/Thought Leadership section of the IRI web site (www.infores.com).
About Information Resources, Inc.
Information Resources, Inc. (IRI) is the world’s leading provider of enterprise market information solutions and services, empowering its clients to grow their business profitably in a complex marketplace. Driving the transformation of the consumer packaged goods (CPG), retail, and healthcare industries, only IRI provides a unique combination of real-time market content, advanced analytics, enterprise performance management software, and professional services. The company’s portfolio of services, solutions, and technology enable leading retailers and their suppliers around the globe to see what they are missing, act faster with greater confidence and win at the shelf. Ninety-five percent of the FORTUNE Global 500 in CPG and retail leverage IRI to power their business. For more information, visit www.infores.com.
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