CPG brands have to make the best of an incredibly trying environment. Some brands are better than others at keeping up with the fast-changing consumer behavior. The fact that they’re not just surviving but thriving in a highly volatile market isn’t lost on anyone.
Here’s what a fledgling natural CPG brand could learn from its more experienced counterparts.
They Research Extensively
The fastest-growing CPG brands improve their bottom line by sparing no expense on research. They take a qualitative approach to identify the current demand and the who, how, where, and when.
Once they have everything they need, they create a catalog of products diverse enough to meet all of these demands. They don’t discount minor trends from their decision-making like many companies do when taking a quantitative approach to consumer research because they understand the power of street cred in a post-pandemic world.
They Learn from Other Brands
Some top CPG brands have taken a unique approach to filling the holes in their product portfolio. They’ve started investing in smaller, younger brands that offer different products in the same market to expand their knowledge about these previously unknown products.
They don’t do this to take over these smaller companies. They do this because they want to fill the white spaces in their category. However, instead of trading organic growth for inorganic growth, these companies apply a blend of both to their sales strategy.
They Observe Their Own Consumer Behavior
The people working for CPG companies are part of the changing consumer behavior. They’re consumers, too, which means their instincts, demands, and desires are as good as any other consumer out there.
In other words, you are your best target audience. If you feel like having a high-protein smoothie, you should listen to this urge, research the demand, and create the product. As a CPG brand, you can get inspired from within and then see how your audience reacts to it. It’s a gamble, but you may just end up finding your niche.
Learn More from Our Natural Products & Specialty Food Consultants
Recruit our natural products consulting service to know what else the fastest-growing CPG companies are up to these days and incorporate it in your sales strategy. Hire natural products consultants with over two decades of experience at a fraction of what you might have to pay an experienced sales team.
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