Tim Leavey’s Post

What does “better for you” mean to today’s consumers? There’s no doubt “better for you” has evolved over recent decades. It’s come to mean many things to many different consumers: healthful, “free of,” better for the planet, and so much more. The good news? These trends present big opportunities for CPG and other retail brands looking to guide their product innovation by evolving consumer preferences. On Wednesday, July 24 at 1PM ET / 10AM PT, join us for a conversation featuring CPG entrepreneur and snack sommelier Nate Rosen and Highlight’s founder and CEO, Dana Kim. They’ll discuss the current landscape, and how brands are innovating #BFY to win more consumers and boost their bottom lines. Register now: https://lnkd.in/enNAmQsJ

What does “better for you” mean to today’s consumers? There’s no doubt “better for you” has evolved over recent decades. It’s come to mean many things to many different consumers: healthful, “free of,” better for the planet, and so much more. The good news? These trends present big opportunities for CPG and other retail brands looking to guide their product innovation by evolving consumer preferences. On Wednesday, July 24 at 1PM ET / 10AM PT, join us for a conversation featuring CPG entrepreneur and snack sommelier Nate Rosen and Highlight’s founder and CEO, Dana Kim. They’ll discuss the current landscape, and how brands are innovating hashtag #BFY to win more consumers and boost their bottom lines. Register now: https://lnkd.in/enNAmQsJ

Trends shaping the #GroceryMarket in 2023 and beyond 1. Ongoing pressure to deliver value to consumers: Reducing spending remains a top priority for #shoppers in all income groups. Indeed, nearly 60 percent of consumers are looking for ways to save money, an increase of 13 percentage points from 2022. 2. Elevated personalized experience across channels: Grocers will continue to invest in personalization and #omnichannel capabilities to attract, engage, retain, and deliver value to customers. To remain competitive, grocers should use purchase history to inform product offerings. 3. #BroaderBusinessDiversification: #GroceryRetailers are evolving their #BusinessStrategies to create ecosystems and explore new revenue streams. They are partnering with tech companies, expanding into consumer services, and selling B2B services. For instance, they've launched e-marketplaces, retail media networks, and health and wellness services. Partnerships with tech companies are on the rise. 4. Acceleration of #GenerativeAI: Grocers should consider developing plans to harness generative AI to transform their business, capture more value, and accelerate growth opportunities. For now, the majority of use cases remain within analytics and the consumer front end. KEY PRIORITIES FOR 2024 • How can we create a seamless omnichannel experience to deliver a personalized offer and messaging at the right time and in the right place? •Which generative AI use cases should we prioritize, and how do we create a test-and-learn culture to get the most out of this technology? •What actions do we need to take to accelerate our transition to renewable power, establish recycling solution coalitions with other grocers, and amplify messaging around ESG-related claims? Read the full article here➡ https://lnkd.in/g_2rUUVx #FoodRetailIndustryNews #FoodRetailIndustryTrends #FoodIndustry #FoodBrokers #WholesaleFoods #Sustainability #TrendTopics #GroceryMarketIndustry

Today’s consumers are exposed to tons of new products. According to a Nielsen study, around 57% of recent survey participants stated that they had bought new products during their last trip to a simple grocery store. That is only in one segment. What about the whole CPG industry? How can you stand out with recurring launches of relevant new products? You need to stay at the top of your customers' minds through a sustainable new product roadmap. https://lnkd.in/greQVN_D #appletongreene #appletongreenandco #certifiedexcellence #accreditedassociatelearning #accreditedexecutivelearning #accreditedseniorlearning #businessconsultants #businesstrainings #professionaltrainings

There's only one week to register for our free webinar to find out how #FMCG companies can win over the new #empoweredconsumer. In the wake of Covid and the cost-of-living crisis consumers have become savvy about how they spend their money, but the landscape is shifting as inflation is easing. - Experts will look at what grocery companies expect from consumers in 2024.  - What are the key trends, sentiments and behaviours that will shape purchasing decisions? - And how can brands, retailers and manufacturers get closer to grocery shoppers in a meaningful way? Our panel of experts, including Matthew Piazza, Global consumer goods and grocery segment lead at Mastercard; Caroline Young, head of insight at General Mills Mill; David Lennox, head of product development at Iceland Foods and Camilla Barnard, co-founder and brand director of Rude Health, will share their insights and invaluable advice on how to tap into the new consumer trends in 2024.    https://lnkd.in/ekQp3GRf #ad #FMCG #consumertrends

As one of many approaches to boosting volume, the industry is pivoting “from mass to micro.” Grocers want to get closer to their consumers and engage them as individuals. Dive into our latest consumer research—based on survey responses from over 200K adults across 12 countries— that shows personality has predictive power for what people buy and how much they spend. #consumer #retail #grocery

This statistic is mind-blowing and here's why: - Legacy consumers panels primarily focus on traditional Food, Mass, and Drug - If 87 out of the Top 100 Growing CPG Major Categories are seeing most of their growth happening OUTSIDE of these channels (think Amazon, Aldi, Costco), brands could be missing out on 65% of the trips their shoppers are taking, which means they are left making important business decisions based on assumptions over facts - It also becomes harder to prove the value of your brand to retailers if you don't have the full picture If anyone is interested, I'd be happy to take a look at your brand's performance in these non-traditional, yet high-growth channels

Innovation, Innovation, Innovation Whether it’s about satisfying existing #shoppers to increase spend or attracting new shoppers to a category #innovation can be an effective tool. Will shoppers in your category be tempted by new and different products? If your category scores well against other categories for this metric, you know the appetite is there. AND you can demonstrate this to your buyers to help secure new listings. So what does that innovation need to look like? What should it call out? Focusing first on the shopper will help you create new products that will win at the shelf. Look at what’s important to them and how satisfied they are with that. Do they want better quality or premium options? sustainability? healthy options? British made or locally sourced? Do they want to see more range or is it already confusing…that’s a watch out for Plant Based! That’s a good starting point for identifying white spaces. Understanding your shopper’s needs is crucial to effective category execution. And you can only do this by asking shoppers what matters to them and understanding this in the context of the total grocery store. See below for top 10 categories for ‘try new and different’. #categorymanagement #shopperinsights #groceryretail #retailinsights #innovation

McKinsey & Company identified five key trends to thriving in 2023: stronger private-brand offerings and promotions, an elevated omnichannel experience, broader business diversification, the integration of generative AI, and sustainability as a driver of top-and bottom-line results. #grocery #supermarket #artificialintelligence #ai https://hubs.ly/Q024fv6n0