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Food and beverages CEOs, transparency and changing markets are radically transforming our industry on a daily basis. As a Northwestern
University graduate student with an interest in food and beverage industry, I have found 2 articles on the major trends impacting our industry today.
Innovation is incredibly important across the food and beverage industry, much effort and money invest on what will be the next big thing. There are 5 macro trends investigated in Pippa Bailey's article. 1. Digital detox 2. Healthification 3. Discovery and connoisseurship 4. Personalization and customization 5. Premiumisation and indulgence. Check out the article for more details.
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Source: Canva
In the second article, Matt Holt suggests that the brands in premium food and beverages that are best-positioned to thrive from connected experience upon four specific areas within their marketing: 1. Connected experience with product 2. Connected experience with technology 3. Connected experience with data 4. Connected experience with innovation.
Recommendations:
- Transparency
is the evidence of authenticity
“best foods for…” google food trend searches have grown by
a factor of ten since 2005. Customer become more educated and they are looking
for health related benefits in the food label. Notably, premium supermarkets
have experienced a huge uplift that consumer perceives the shopping experience
is more transparent and valuable.
- Bring
relevancy with personalization
A frictionless experience is driving a more demanding
consumer. According to the Ispos Global Trends 2017 Survey, consumer want to be
empowered, and are often willing to hand over their personal data if it rewards
them with more relevant and tailored results in return.
- Avoid
information overload
Food and beverage company
should use data to customize offerings based on customer choices and purchase
behaviors. Avoid irrelevant messaging or push marketing. Also, to make sure the
label is not too scientific for customer to understand. Explain the label in a
simpler way to let customer know how it’s going to affect s/he body.
About the author
Irene Liu
IMC Graduate Student, Northwestern
University
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