Marketing Insights in a Covid- 1 9 world Category Consultants to - - PowerPoint PPT Presentation
Food & Drink Federation Webinar: 30 th April 2020 Generating Meaningful Marketing Insights in a Covid- 1 9 world Category Consultants to the Food & Drink Industry Who are Levercliff? How we generate m eaningful insights?
Food & Drink Federation Webinar: 30th April 2020
Generating Meaningful Marketing Insights in a Covid- 1 9 world Category Consultants to the Food & Drink Industry
9 affecting category m anagem ent?
What do we do? We help category Davids beat category Goliaths
Duncan Macaskill
2001 2003 201 4 2020 2005
David Craig
2002 2005 201 2 201 6 201 8 201 5 201 1
Custom ers & partners trust us
Som e of our custom ers Som e of our partners
We use a five step process to help businesses of any size gain a com petitive advantage. We call it Actionable Intelligence.
Getting the right Data
Step 1 :
POS
Data can help you tell powerful stories. your needs. Com panies som etim es buy too m uch, usefulness. Buy sm arter. Be resourceful.
Understand it
Step 2:
data and m aking it relevant to your business:
so-
To understand data, you need to think about what it is telling you, rather than just describing it. Why is that happening? What are the im plications for your business, your com petitors and the m arket?
Create Insight
Step 3:
understanding of som eone
are analysing and generating m eaningful understanding of current and future consum ers.
To create a true insight, you need to bring together all of the analysis, extracting the key nugget of business the insight.
An insight should take inspiration from the big consum er trends which are relevant to your industry.
Look Left and Right
And should in som e way relate to a consum er need. The consum er should always be at the heart of a consum er insight.
Convert to Opportunities
Step 4:
brands/ products/ form ats your custom er has?
need these products are m eeting?
needs have not been m et
Treat Everyday Low Med High Low Med High
Kids Fam ily Sharing Fam ily Adult Healthy Indulgence Celebration Afternoon Tea/ Snack Snack On- the- go
Cake Market Segm entation - Based on Cupcakes
Price Position Price Position
Own Label Aldi/ Lidl Brand x 4 Tesco Swirly x 4 Tesco Red Velvet x 4 Asda Giant Cupcake JS In- store ASDA In- store Tesco Red Velvet x 2 Coop Truly Irresistable x 4
GAP Low Price Kids GAP Mini Cup Cakes GAP GAP Individual Wrap GAP Celebration Cup Cakes
Brand Nestle Sm arties/ Jelly Tots Cakes Disney Range - Princess/ Toy Story Hello Kitty/ Peppa Pig Fabulous Bakin Boys Mini Cupcakes Fabulous Bakin Boys x 6 Fiona Cairns Weight Watchers Minis
Be specific about the
Visualising an opportunity
Build into an action plan
Step 5
which custom ers it should be targeting.
possible
A good category m anagem ent process can help to produce m eaningful insights.
Insight
Custom er Consum ers
Com petitors
Category
Category Managem ent form s a strong fram ework for producing insights and is relevant to both retail and foodservice channels.
But in a crisis the norm al rules do not apply in category m anagem ent.
Although tim es m ay not be norm al, categories still need to be m anaged. Insight has never been m ore relevant to help us understand what is happening.
We need to be sm arter to cut through the noise. Category Managem ent is key to generating insights and adjusting to suit the new m arket norm s.
Levercliff Covid- 1 9 Consum er Survey
Through our new consum er tracking survey we have identified the following insights:
Research
1 5 m inute quantitative research Sam ple size of 1 043 UK Representative Analysed by team
1 : The m ajority of consum ers are thinking about m oney.
65% are concerned about rising food prices and 49% concerned about reduced household incom e
Base: 1 043 m ixed
So what does it m ean?
There is likely to be a growth in own label, consum ers focusing on higher perceived value for m oney, considering trading down from prem ium to everyday, m anaging their basket sizes, reducing non- essential spending.
What should com panies do?
Refocus towards higher perceived value
everyday products, not forgetting about the need for affordable indulgences for a locked- down consum er lifestyle.
2: Consum ers are changing their frequency of shopping in line with Governm ent advice.
60% are shopping less frequently, of that, 56% are buying m ore
Base: 1043 then mixed So what does it m ean?
buying food for later, consum ers buying with shopping lists, dem and for larger pack sizes. These all affect categories.
What should com panies do?
Reconsider the relevance of your current product range to a consum er who is shopping less often. How would they respond to changes in pack size? Is your NPD pipeline filled with products that fit this potential shift in dem and?
3: How people are shopping has also changed.
Consumers are changing how they buy
Online Delivery
38%
Click & Collect
1 7%
% Say It Will Continue when Covid- 1 9 Restrictions end in the UK
1 9% 1 2% 1 1 % 80% plan to continue using these after the restrictions are lifted
Base: 1043 then mixed
since before
Specialists
1 1 %
The shopping experience is totally different.
So what does it m ean?
The online shopper buys differently. They are less tem pted by displays and im pulse, and m ore habit- driven. Shoppers can m ore easily control their total spend, and m anage shopping lists m ore dynam ically.
What should com panies do?
There is the potential to tap into a new online consum er m ostly younger consum ers. Have you looked at how clearly your packs appear
Can you boost to encourage trial? Do you know your online shopper?
and eating food at hom e has changed.
Consumers are changing how they cook
Scratch Cooking
51 %
Using Canned or Store Cupboard Foods
39%
Baking
37%
Using More Frozen Food
37%
Eating Together as a Family
34%
% Say It Will Continue when Covid- 1 9 Restrictions end in the UK
83% 37% 66% 43% 71 %
Base: 1 043 m ixed
continue now
Consum ers are shifting away from shopping
So what does it m ean?
Mature categories like Frozen, Bakery and Am bient ingredients have a new relevance to Convenience redefined as consum ers have m ore tim e to plan, cook and eat, looking for convenient ingredients rather than com plete dishes.
What should com panies do?
Re- consum er who is rediscovering taking tim e to do scratch cooking and sharing fam ily m eals. Mature categories have an opportunity to retain new consum ers who have been forced to adopt new habits.
5: Consum ers are indulging
setting in.
33% are being careful about snacking due to lack
expect to buy m ore healthier snacks
Base: 1 043 m ixed
So what does it m ean?
Com fort food has been the feature of the initial health and weight gain. Consum ers are likely to shift towards healthier alternatives soon.
What should com panies do?
long- term health and wellbeing trends, and different need states for different consum ers. But, think about how their daily routine now differs, and what snacking occasions they could now have.
These are just 5 of the insights from our report. Think about how a true insight can inform your thinking, your plans, your strategy.
So what does it m ean?
Meaningful Insights are im portant to businesses, especially in this current environm ent.
So what does it m ean?
They can help your business respond to changing consum er behaviours and new needs, now and in the future.
So what does it m ean?
But only if they are applied to your business in a tim ely and relevant way.
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Register your em ail address on the Levercliff website. www.levercliff.co.uk Category Consultants to the Food & Drink Industry