Incremental Sales Opportunities Abound: IRI

LAS VEGAS -- Information Resources Inc. President and Chief Executive Officer Scott W. Klein encouraged 1,500 attendees of IRI's "Changing the Game" summit here yesterday to tap into the $126 billion incremental sales opportunities presented by healthy kids' products, items marketed to aging Baby Boomers, Hispanics and low-income shoppers. Healthy kids' products alone present a $20 billion incremental sales opportunity while members of the Baby Boomer customer segment have the potential to spend $46 billion, according to Klein. "Hispanic shoppers are expected to generate $20 billion in incremental sales by 2015," he said, "especially in home care and personal products. Hispanics spend 15% more on household products than the average American consumer." The often-overlooked segment of lower-income shoppers, who comprise one-third of the U.S. consumer market, also presents a substantial $40 billion spending potential, according to Klein. "These shoppers live paycheck to paycheck and they make more frequent trips to the store to help manage their money," he said. "They can't afford larger package sizes. Consumers are changing what they want, where they want it and when they want to buy it." -- Julie Gallagher