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Hot Trends in Food and Drinks Innovation
Business Insights, April 2011, Pages: 147
The report aims to explore key innovations and marketing strategies that will play an important part in driving the development of new products that will meet new and changing consumer demands over the next five to ten years. The report looks at regional differences in the drivers of change in consumer trends and considers the changes that need to be made to existing innovations strategies.
Features and benefits
- Analyze key socio-economic trends such as the aging population, increasing urbanization, changing employment patterns, and concerned consumerism.
- Understand how changing socio-economic trends will have a profound effect on how consumers choose food and drinks products and brands.
- Gain a deeper insight into new ways of meeting changing consumer demands for premium, healthy, ethical, and convenient food and drinks.
- Identify new ways to attract consumer attention, drive purchase uptake and increase brand loyalty.
- Evaluate how changes in technology will affect innovations and marketing strategies and change the way consumers interact with food and drinks brands.
Highlights
The growth of innovations in and the uptake of consumer technology, and especially social media, is undoubtedly having a considerable impact on consumer behavior. But it is not enough to know that these developments are changing the innovations and marketing landscape, it is also crucial to understand the pace and scale of the changes.
The population of the world is aging, meaning that consumers over the age of 60 control an increasingly significant proportion of consumer spend. This makes seniors one of the most important consumer groups, but it is important to recognize that not all senior consumers behave in the same way or have the same needs.
Consumers’ lifestyles are changing significantly, leading to demand for products that are convenient, to help accommodate increasingly time-pressed consumers; sustainable and ethical products that cater for the growing trend towards concerned consumerism, and healthy products that respond to growing consumer interest in health and wellbeing.
Your key questions answered
- How are consumer trends in favor of premium, ethical, healthy and convenient products affected by worldwide changes in consumer demographics?
- How can food and drinks manufacturers ensure that their products meet changing consumer expectations of “premium” and “sustainable”?
- What lifestyle pressures do today’s consumers face and how can food and drinks manufacturers and brand owners offer saleable solutions?
- What are the long-term implications of the growth of the Internet and social media for food and drinks innovations and marketing strategies?
- How is the “senior” consumer segment changing and what are the implications for the food and drinks industry?'
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