Business Objective
F&B manufacturers and grocery retailers are constantly having to adapt their brand portfolios, assortments and even corporate strategy to be in tune with the consumption trends of both pre-and-post-millennial consumers. This means:
– Being able to pick out the winners from a large pool of emerging product claims or flavors
– Act on immediately implementable changes driven by granular insights at brand/item x retailer-region/store level (distribution, assortment changes, promotion support)
– Make strategic interventions in sourcing, manufacturing, supply chain, or through M&A activities
Challenges
- There is not just one source of data that could give all insights required for such transformation.
- Even if relevant sources and data partners are identified, defining a structured path from data to insights is not easy due to multiple constraints (least of which is blending the sources).
Solution Methodology
- Derive insights through structured analyses around 3 key pillars
- Forward-looking consumer insights from internal and external sources
- Product launches, growth trends including path and pace of evolution
- Sales data from syndicated/point of sales sources
- Identify winners ahead of time from the many product innovations (claims, flavors, etc.)
- Size the prize through forecasting methods as well as industry research
Where current portfolio has relevant offerings, provide precise & granular action recommendations (distribution, assortment, pricing& promotion changes) - Where current portfolio has gaps, identify NPI/M&A opportunities
- Build intuitive visual outputs for use in corporate strategy and revenue management discussion
Business Impact
- Through these approaches, business opportunities worth USD 350 – 600 million have been identified and validated with analytics and business teams of multiple F&B brands operating in multiple foods, beverages and snacking categories
- Backed up recommendations with specific actions to take and investments to make to realize opportunities
