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Since the pandemic began, shoppers have been buying a lot of packaged food and household cleaners, boosting revenue for major CPG manufacturers such as Kraft Heinz Company and Procter & Gamble.
In earnings calls and interviews, industry executives have described this shift in behavior as a return to big-name brands that people know and trust. Americans, they said, are seeking comfort and certainty in an uncomfortable and uncertain time. And recent survey data puts some weight behind these claims.