In case you needed any reassurance of the value Shopper Intelligence may bring to your business, I noticed BCG’s summary of the key strategy for growth was to “use demand science to understand what consumers want to buy when, where and why they want to buy it”. I hadn’t ever described our data as “demand science”, but I like it!
They also point out three ways smaller CPG firms have succeeded.
They differentiate – e.g. Chobani targeting day parts (e.g. Adding oats for a breakfast solution or “Flip”, an afternoon snack idea). Shopper Intelligence asks shoppers the intended usage occasion and user so that you can understand the “competitive set” store-wide for any need.
By targetting – e.g. Halo Top by Eden Creameries using specialist “natural food” retailers and social media before going mainstream. Shopper Intelligence compares across retail banners so you can understand how each differs in terms of shopper needs and behaviours, not just demographics.
Or by investing in startups – eg. Danone investing in new water brand KonaDeep and Harmless Harvests a coconut water brand. Shopper intelligence can measure niche categories in a way existing panels can’t.
Click here for details of the study.