This is part two in our consumer goods strategy series.

Think about your target customer and what they commit to spending money on every month. Is your product a monthly need, a want, or a less frequent, expensive purchase? If your product doesn’t fit into an existing purchasing category, how will you convince customers to buy what you’re selling?

Needs (Based on Typical Monthly Expenses)

  • Food
  • Water & Beverages
  • Healthcare
  • Transportation
  • Housing
  • Electricity
  • Heat & Hot Water
  • Telecom Plan
  • Home Wi-fi
  • Maybe: Caffeine, Pet Food, Child Expenses, Education, Student Loans

Quarterly Purchases

  • Personal care items (beauty, hair care, nutrition)
  • Cleaning and laundry supplies (and other misc small household items)

Larger Lifestyle & Household Purchases (every 1–10 years)

  • A new Mobile Device
  • A new Personal Computer
  • Camera
  • Tablet
  • Television
  • Travel Luggage
  • Home Decor & Renovations
  • Kitchen Tools & Gadgets
  • Sheets & Towels
  • Mattresses
  • Washing Machine
  • Refrigerator
  • Dishwasher
  • Car
  • House

Wants

  • Entertainment — Books, Movies, Music, Cable, Games, Virtual Reality
  • Outside Entertainment — Travel, Restaurants, Movie Theater, Concerts
  • Clothing, Shoes & Accessories — Beyond what you already own.
  • Gym Membership or Fitness Devices — Health and wellness is necessary, but a gym membership isn’t accessible or affordable to all.
  • Smart Home — Gadgets that connect to the internet and mobile phones, giving consumers control over their home’s electricity and temperature.
  • A Personal AI — To automate your life and keep your pantry stocked.
  • Wearable Devices — Such as smart watches and fitness trackers.

Top Household Purchasing Categories in 2015

1010 Data compiled a study of top CPG categories for online sales in the U.S. in 2015. Pet Food was the clear winner with almost $700M in online sales.