Many corporations commit substantial monetary assets to acquire detailed info on product gross sales via scanner information. Nonetheless, scanner information doesn’t at all times reside as much as its promised potential. Deeper, extra actionable insights are sometimes required to create methods for innovation and development.
As a long-time Analysis Analyst and Trade Research Supervisor at Packaged Info, a division of MarketResearch.com, Jennifer Mapes Christ understands the constraints of scanner information nicely, significantly because it applies to meals and beverage, packaging, and pet services.
I sat down with Jennifer to debate this challenge in additional depth and find out about potential options for filling this frequent info hole. Learn our dialog within the Q&A beneath to search out out extra.
Why isn’t scanner information at all times sufficient info to realize a aggressive edge? What does it miss?
Scanner information tells you the “what,” however it doesn’t inform you the “when,” “how,” or “why” merchandise are promoting and acting at a sure degree. Scanner information cannot inform you about client habits, key events and dayparts, or area of interest areas that provide promising development alternatives.
Scanner information can inform you numerous about what merchandise are promoting and the way they’re performing available in the market, however it isn’t forward-looking, and it doesn’t present forecasts. It doesn’t inform you what market segments to pursue subsequent or the place to focus your technique.
How does Packaged Info fill that want for deeper, extra complete, and forward-looking insights?
Packaged Info affords data-driven evaluation of client habits and preferences, advertising improvements, product launches, and aggressive tendencies. This info might help you make knowledgeable selections about your merchandise, advertising, and general technique.
For instance, Packaged Info Meals & Beverage stories spotlight:
- Developments in client habits, emotions, and outlook
- Promising product and area of interest areas
- The most recent advertising and distribution improvements
- Key events and dayparts
- Aggressive evaluation amongst suppliers
We all know corporations are at all times in search of development alternatives. How does Packaged Info assist obtain that purpose?
Our analysis can level you towards the place you may go subsequent by way of model extensions and licensing alternatives. For example, The Coca-Cola Firm launched Tic Tac Coca Cola Breath Mints and Tic Tac Sprite to leverage their model energy and distinctive taste profile into a brand new product alternative.
Each model extensions and licensing might be an effective way to develop your model and attain new clients by bringing your current clients with you into new areas, whereas limiting advertising bills.
In case you are involved in studying extra about meals and beverage segments with the most effective prospects the place your model or product flavors might be a match, Packaged Info has a wide range of stories accessible.
What are some particular titles that you just assume stand out on this regard?
The stories Meals Market Outlook and Beverage Market Outlook cowl big-picture tendencies all through the trade with annual updates.
We additionally delve into key development alternatives and tendencies in particular market segments, similar to:
As well as, we publish client insights stories that present data-driven evaluation of client preferences, habits, and exercise. Key titles embrace:
What are another methods corporations can use Packaged Info to establish alternatives in adjoining markets?
We see important cross-over between human meals tendencies and pet meals and treats. Since individuals think about their pets to be a part of their household, they typically need their pets to comply with comparable diets and well being philosophies, whether or not that’s gluten-free, vegan, or keto. Pet corporations can examine human meals tendencies to higher perceive the place the pet meals market is headed subsequent.
We’ve got stories on all these areas, and these meals and beverage stories might be extremely helpful for pet corporations as nicely.
We might help you higher perceive these human meals and human consuming tendencies to be able to develop merchandise that meet the wants of in the present day’s discerning pet homeowners.
Whether or not you have an interest in meals and beverage or pet merchandise, going past scanner information—and exploring the advanced elements shaping client habits—gives you extra visibility, extra choices, and extra actionable insights for what’s subsequent on the horizon.
About Packaged Info
Packaged Info publishes market intelligence on a variety of client market subjects, together with client demographics and shopper insights, client monetary services, client items and retailing, and pet services. Packaged Info additionally affords a full vary of customized analysis companies. Studies might be bought at our firm web site and are additionally accessible via MarketResearch.com.
