June 23, 2022
With preferences, concerns and trends changing faster than ever, it’s not easy to stand out to consumers who demand new food and beverage products every day. The question is: how do you bring innovative ideas to life and succeed in getting consumers to connect with them? Partnering with other experts could be one way.
High-quality products are no longer enough to maintain a position as a market leader. These days, products have to offer more. What are the health benefits? Is effort being put into connecting and engaging with the consumer? These are some areas in which companies need to excel to stand out to the modern consumer.
Consumers need a reason to choose a new product, and manufacturers can provide that by delivering a product that meets a specific need. Today, a good example of this is catering to a younger demographic that is often looking for healthier food and beverage options. At Tetra Pak, we do extensive research and a lot of co-creative workshops with customers to develop products that are a good fit with specific target groups.
Sometimes that means creating a healthy product. Sometimes it means creating a convenient product. And sometimes, it means balancing the healthy with the convenient and figuring out how to integrate such a product into daily routines and make it the go-to choice for consumers.
Take the plant-based market, for example. Plant-based beverages are becoming increasingly popular due to the health and sustainability benefits they offer. They can be made with different ingredients, such as nuts, seeds, and grains, so it’s important to consider which plant-based alternative has the biggest potential to become popular in whichever market you are operating.
Having the right product in place is only part of the journey. The key is to reach potential consumers and convince them to choose your product. A good product can win consumers over, but continued engagement is needed to maintain loyalty.
An example of our work in this area is setting up promotion campaigns that utilise our connected package technology. Consumers often respond positively to engaging and educational content such as recipes, workout routine videos, health tips, associated product benefits and packaging information.
Connection, however, goes beyond the actual product and how it is launched to consumers in the market. It is important to stay up to date on current trends to capitalise on any opportunities that arise, for example, by working more closely and sharing knowledge across markets.
An 'innovation entrepreneur' mindset is essential to succeed in the current environment. That means approaching new developments with an open mind and cultivating and maintaining an ability to adapt to an ever-evolving landscape.
The key is a continuous commitment to learning and growing. Staying at the top requires in-depth research and analysis, constant innovation – and a willingness to adapt to an evolving world. And fundamentally recognising that true transformation cannot be achieved alone.