Remember the pandemic stockpiling last year? Consumer products companies are still catching up

  • 📰 CNBC
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 72%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Sales of consumer packaged goods climbed 9.4% last year, according to the Consumer Brands Association.

Josh Edelson | AFP | Getty Images

But the boom in demand hasn't abated yet, and the trade group said that manufacturers are still struggling to catch up on inventory. To meet the challenge, companies are hiring more workers, adding new factory lines and boosting wages amid the protracted surge in demand. Even as the pandemic subsides, the CBA is forecasting that industry's 2021 sales will still be up 7.4% to 8.5% from 2019. January sales are up 16% from the same time a year ago, representing the highest year-over-year change since last March. February sales growth slowed slightly but was still in the double digits. Before the pandemic, strong growth for a CPG company meant an increase in the low single digits.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

good

Ireland Ireland Latest News, Ireland Ireland Headlines