Many corporations commit substantial monetary assets to acquire detailed info on product gross sales by way of scanner information. Nevertheless, scanner information doesn’t at all times dwell 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 Information, a division of MarketResearch.com, Jennifer Mapes Christ understands the constraints of scanner information properly, significantly because it applies to meals and beverage, packaging, and pet services and products.
I sat down with Jennifer to debate this concern in additional depth and study potential options for filling this widespread info hole. Learn our dialog within the Q&A under to search out out extra.
Why isn’t scanner information at all times sufficient info to achieve a aggressive edge? What does it miss?
Scanner information tells you the “what,” however it doesn’t let you know the “when,” “how,” or “why” merchandise are promoting and acting at a sure stage. Scanner information cannot let you know about shopper habits, key events and dayparts, or area of interest areas that supply 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 let you know what market segments to pursue subsequent or the place to focus your technique.
How does Packaged Information fill that want for deeper, extra complete, and forward-looking insights?
Packaged Information provides data-driven evaluation of shopper habits and preferences, advertising improvements, product launches, and aggressive traits. This info might help you make knowledgeable choices about your merchandise, advertising, and general technique.
For instance, Packaged Information Meals & Beverage studies spotlight:
- Traits in shopper habits, emotions, and outlook
- Promising product and area of interest areas
- The newest advertising and distribution improvements
- Key events and dayparts
- Aggressive evaluation amongst suppliers
We all know corporations are at all times on the lookout for development alternatives. How does Packaged Information assist obtain that objective?
Our analysis can level you towards the place you could possibly go subsequent when it comes to model extensions and licensing alternatives. For instance, 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 a good way to develop your model and attain new prospects by bringing your present prospects with you into new areas, whereas limiting advertising bills.
In case you are fascinated by studying extra about meals and beverage segments with the most effective prospects the place your model or product flavors might be a match, Packaged Information has a wide range of studies out there.
What are some particular titles that you simply assume stand out on this regard?
The studies Meals Market Outlook and Beverage Market Outlook cowl big-picture traits all through the business with annual updates.
We additionally delve into key development alternatives and traits in particular market segments, reminiscent of:
As well as, we publish shopper insights studies that present data-driven evaluation of shopper preferences, habits, and exercise. Key titles embody:
What are another methods corporations can use Packaged Information to determine alternatives in adjoining markets?
We see vital cross-over between human meals traits and pet meals and treats. Since individuals contemplate their pets to be a part of their household, they usually need their pets to observe comparable diets and well being philosophies, whether or not that’s gluten-free, vegan, or keto. Pet corporations can examine human meals traits to raised perceive the place the pet meals market is headed subsequent.
Now we have studies on all these areas, and these meals and beverage studies might be extremely helpful for pet corporations as properly.
We might help you higher perceive these human meals and human consuming traits so as 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 complicated elements shaping shopper conduct—provides you with extra visibility, extra choices, and extra actionable insights for what’s subsequent on the horizon.
About Packaged Information
Packaged Information publishes market intelligence on a variety of shopper market matters, together with shopper demographics and shopper insights, shopper monetary services and products, shopper items and retailing, and pet services and products. Packaged Information additionally provides a full vary of customized analysis companies. Reviews might be bought at our firm web site and are additionally out there by way of MarketResearch.com.
