STAYING IN TUNE
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Most categories, at some point in time, have been impacted and influenced by consumers’ changing interests or needs.
With the growing breadth of variety, is there room for all these products to compete at shelf and in consumers’ minds? Can they all be successful? While consumers will never abandon their beloved brands, there is always room for small batch, “hand-crafted” niche products that consumers love to discover and share.
Too often companies look at customer acquisition too narrowly and place them into two categories: retail-only or direct-to-consumer.
While this may sound gross, dogfooding-or eating your own dog food-is a way for brands to use their own products and services in real-world situations and test for quality control or other issues. This mindset is vital to the success of challenger style startups.
The theory of disruptive innovation posits that incumbent brands cannot (or choose not to) serve their entire market and instead focus on their most profitable consumers at the high-end, resulting in niche markets of underserved consumers.
When it comes to brands, I believe the successful ones will add benefits to their consumers’ lives rather than overly focusing on the setbacks.
As consumers become more accustomed to a predominantly quarantined lifestyle, companies must solve new challenges to maintain their growth while attracting new consumers. Whether it’s embracing meals at home or reaching out to local grocers, CPG brands have a huge opportunity to continually shape and redefine their relevance for the future.
We are experiencing real changes in consumer behavior and online shopping, so we must support consumers with true brand solutions.
Embracing empathetic communication is what allowed us to adapt so successfully. We felt secure in ourselves and our capabilities.