Many corporations commit substantial monetary assets to acquire detailed data on product gross sales by means of 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 progress.
As a long-time Analysis Analyst and Business Research Supervisor at Packaged Info, a division of MarketResearch.com, Jennifer Mapes Christ understands the restrictions of scanner information nicely, notably because it applies to meals and beverage, packaging, and pet services and products.
I sat down with Jennifer to debate this problem in additional depth and study potential options for filling this widespread data hole. Learn our dialog within the Q&A under to search out out extra.
Why isn’t scanner information at all times sufficient data to achieve a aggressive edge? What does it miss?
Scanner information tells you the “what,” but it surely doesn’t inform you the “when,” “how,” or “why” merchandise are promoting and acting at a sure degree. Scanner information cannot inform you about shopper habits, key events and dayparts, or area of interest areas that provide promising progress alternatives.
Scanner information can inform you numerous about what merchandise are promoting and the way they’re performing available in the market, but it surely 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 gives data-driven evaluation of shopper habits and preferences, advertising improvements, product launches, and aggressive developments. This data will help you make knowledgeable choices about your merchandise, advertising, and general technique.
For instance, Packaged Info Meals & Beverage experiences spotlight:
- Traits in shopper 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 on the lookout for progress alternatives. How does Packaged Info assist obtain that purpose?
Our analysis can level you towards the place you might 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 will be an effective 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 enthusiastic about studying extra about meals and beverage segments with one of the best prospects the place your model or product flavors may very well be a match, Packaged Info has quite a lot of experiences accessible.
What are some particular titles that you simply assume stand out on this regard?
The experiences Meals Market Outlook and Beverage Market Outlook cowl big-picture developments all through the business with annual updates.
We additionally delve into key progress alternatives and developments in particular market segments, resembling:
As well as, we publish shopper insights experiences that present data-driven evaluation of shopper 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 developments and pet meals and treats. Since folks contemplate their pets to be a part of their household, they typically need their pets to observe comparable diets and well being philosophies, whether or not that’s gluten-free, vegan, or keto. Pet corporations can research human meals developments to higher perceive the place the pet meals market is headed subsequent.
Now we have experiences on all these areas, and these meals and beverage experiences will be extremely helpful for pet corporations as nicely.
We will help you higher perceive these human meals and human consuming developments so as to develop merchandise that meet the wants of at the moment’s discerning pet house owners.
Whether or not you have an interest in meals and beverage or pet merchandise, going past scanner information—and exploring the advanced elements shaping shopper habits—offers 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 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 Info additionally gives a full vary of customized analysis providers. Stories will be bought at our firm web site and are additionally accessible by means of MarketResearch.com.
